Orchid Island Capital, Inc. (NYSE:ORC) Plans $0.12 Monthly Dividend

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Wednesday, March 19th, Wall Street Journal reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.12 per share by the real estate investment trust on Tuesday, April 29th. This represents a $1.44 annualized dividend and a dividend yield of 17.47%. The ex-dividend date of this dividend is Monday, March 31st.

Orchid Island Capital has raised its dividend by an average of 8.3% annually over the last three years. Orchid Island Capital has a payout ratio of 334.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Orchid Island Capital to earn $0.43 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 334.9%.

Orchid Island Capital Price Performance

NYSE:ORC opened at $8.25 on Friday. The firm has a market cap of $769.21 million, a price-to-earnings ratio of 13.74 and a beta of 1.90. The company has a 50 day moving average price of $8.30 and a 200-day moving average price of $8.06. Orchid Island Capital has a 1-year low of $7.41 and a 1-year high of $9.08.

Orchid Island Capital (NYSE:ORC) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.08. On average, sell-side analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ORC. StockNews.com raised shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research report on Wednesday. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research note on Thursday, January 23rd.

About Orchid Island Capital

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.