Orchid Island Capital (NYSE:ORC) Releases Quarterly Earnings Results, Meets Estimates

Orchid Island Capital (NYSE:ORC) posted its earnings results on Thursday. The real estate investment trust reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05), Zacks reports. During the same period in the prior year, the firm earned ($0.28) earnings per share.

Orchid Island Capital Stock Up 0.4 %

Shares of NYSE:ORC traded up $0.03 on Friday, hitting $7.91. 2,375,938 shares of the company traded hands, compared to its average volume of 1,599,797. The company has a market cap of $564.30 million, a PE ratio of -9.09 and a beta of 1.85. Orchid Island Capital has a 52 week low of $5.90 and a 52 week high of $9.08. The stock has a 50 day simple moving average of $8.10 and a 200-day simple moving average of $8.29.

Orchid Island Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a yield of 18.20%. The ex-dividend date is Thursday, October 31st. Orchid Island Capital’s payout ratio is -165.52%.

Analysts Set New Price Targets

Separately, JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a report on Wednesday, August 28th.

Orchid Island Capital Company Profile

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.