Orchid Island Capital, Inc. Announces Monthly Dividend of $0.10 (NYSE:ORC)

Key Points

• Orchid Island Capital declared a monthly dividend of $0.10 per share, payable October 29 to shareholders of record on September 30. The dividend implies an annualized yield of approximately 19.2%.
• The dividend may be difficult to sustain from earnings alone: ORC’s payout ratio is 151.9%, and its dividend has declined by an average of 0.2% annually over the past three years.
• Shares opened at $6.25, near their 52-week low of $6.22, while the latest quarterly results missed expectations with earnings of $0.26 per share versus $0.28 expected and revenue of $59.97 million versus $74.26 million forecast.

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) declared a monthly dividend on Monday, September 14th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, October 29th. This represents a c) annualized dividend and a yield of 19.2%. The ex-dividend date of this dividend is Wednesday, September 30th.

Orchid Island Capital has decreased its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. Orchid Island Capital has a dividend payout ratio of 151.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Orchid Island Capital Trading Down 1.2%

Shares of ORC opened at $6.25 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 509.34 and a quick ratio of 509.34. Orchid Island Capital has a 1 year low of $6.22 and a 1 year high of $8.40. The company has a 50 day simple moving average of $6.62 and a two-hundred day simple moving average of $6.85. The firm has a market cap of $1.25 billion, a P/E ratio of 4.23 and a beta of 1.55.

Orchid Island Capital (NYSE:ORC - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $59.97 million for the quarter, compared to analysts' expectations of $74.26 million.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Independent Financial Group LLC purchased a new position in Orchid Island Capital in the first quarter valued at about $1,687,000. Bank of New York Mellon Corp purchased a new stake in shares of Orchid Island Capital during the second quarter valued at about $3,899,000. Jennison Associates LLC bought a new stake in shares of Orchid Island Capital in the 1st quarter valued at about $1,187,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Orchid Island Capital in the 1st quarter worth approximately $2,894,000. Finally, UBS Group AG raised its stake in shares of Orchid Island Capital by 54.6% during the 4th quarter. UBS Group AG now owns 1,156,156 shares of the real estate investment trust's stock worth $8,324,000 after acquiring an additional 408,339 shares in the last quarter. 32.74% of the stock is owned by institutional investors.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc is a real estate investment trust (REIT) focused on investing in residential mortgage-backed securities (RMBS). Its portfolio primarily consists of agency RMBS, which are securities issued or guaranteed by U.S. government-sponsored entities such as Fannie Mae and Freddie Mac, or by government agencies such as Ginnie Mae.

The company seeks to generate income from its investments and finances portions of its portfolio through borrowings, including repurchase agreements.

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