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

Key Points

• Orchid Island Capital, Inc. announced a monthly dividend of $0.12 per share, with an annualized yield of 19.8%, showing significant reliance on its balance sheet as it currently has a payout ratio of 182.3%.
• The firm reported earnings of $0.16 per share for the last quarter, surpassing estimates slightly, but is projected to face challenges as analysts expect future earnings to be insufficient to cover its annual dividend payment.
• As of the latest trading, Orchid Island Capital's stock price is around $7.27, with a market cap of $1.06 billion and a P/E ratio of 36.34.

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) announced a monthly dividend on Wednesday, October 15th. Stockholders of record on Friday, October 31st will be given a dividend of 0.12 per share by the real estate investment trust on Wednesday, November 26th. This represents a c) annualized dividend and a dividend yield of 19.8%. The ex-dividend date is Friday, October 31st.

Orchid Island Capital has a payout ratio of 182.3% 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 Stock Down 0.0%

ORC stock opened at $7.27 on Thursday. The company's 50-day simple moving average is $7.11 and its 200-day simple moving average is $7.03. Orchid Island Capital has a 52-week low of $5.68 and a 52-week high of $9.01. The firm has a market cap of $1.06 billion, a P/E ratio of 36.34 and a beta of 1.53.

Orchid Island Capital (NYSE:ORC - Get Free Report) last posted its earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The firm had revenue of $23.15 million for the quarter, compared to analysts' expectations of $23.25 million. On average, analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

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.

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