Orchid Island Capital, Inc. Declares Sep 25 Dividend of $0.12 (NYSE:ORC)

Key Points

• Orchid Island Capital, Inc. declared a dividend of $0.12 per share, with payments scheduled for October 30th to stockholders of record as of September 30th.
• The company has a concerning dividend payout ratio of 182.3%, indicating it cannot fully cover its dividend with earnings and is relying on its balance sheet.
• Orchid Island Capital's shares have shown modest trading increases, with a price of $7.22 as of the latest report and a market cap of approximately $914.36 million.

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) announced a sep 25 dividend on Monday, September 8th, RTT News reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.12 per share by the real estate investment trust on Thursday, October 30th.

Orchid Island Capital has a dividend payout ratio of 182.3% indicating that 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 Trading Up 0.3%

Shares of Orchid Island Capital stock traded up $0.03 on Monday, hitting $7.22. The stock had a trading volume of 3,853,740 shares, compared to its average volume of 3,800,062. The company's 50 day moving average price is $7.13 and its 200 day moving average price is $7.24. Orchid Island Capital has a 52-week low of $5.68 and a 52-week high of $9.01. The stock has a market cap of $914.36 million, a price-to-earnings ratio of 36.08 and a beta of 1.51.

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 EPS for the quarter, topping analysts' consensus estimates 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. Analysts predict that Orchid Island Capital will post 0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Orchid Island Capital

Institutional investors have recently modified their holdings of the company. Rogco LP purchased a new stake in shares of Orchid Island Capital in the first quarter valued at about $28,000. Bogart Wealth LLC raised its stake in Orchid Island Capital by 64.2% in the second quarter. Bogart Wealth LLC now owns 3,940 shares of the real estate investment trust's stock worth $28,000 after buying an additional 1,540 shares in the last quarter. US Bancorp DE grew its position in Orchid Island Capital by 1,123.1% during the 1st quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 3,504 shares during the last quarter. Quarry LP bought a new position in Orchid Island Capital during the 1st quarter valued at about $50,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Orchid Island Capital by 73.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,119 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 3,012 shares during the period. 32.74% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.