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

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 given a dividend of 0.12 per share by the real estate investment trust on Thursday, October 30th. This represents a dividend yield of 2,000.0%. The ex-dividend date of this dividend is Tuesday, September 30th.

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 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 Up 0.1%

Shares of ORC stock traded up $0.01 during mid-day trading on Friday, hitting $7.08. 2,411,032 shares of the company's stock were exchanged, compared to its average volume of 4,234,784. Orchid Island Capital has a fifty-two week low of $5.68 and a fifty-two week high of $9.01. The stock has a 50-day simple moving average of $7.13 and a two-hundred day simple moving average of $7.20. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 35.38 and a beta of 1.51.

Orchid Island Capital (NYSE:ORC - Get Free Report) last issued its earnings results on Thursday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.01. The firm had revenue of $23.15 million during the quarter, compared to analyst estimates of $23.25 million. As a group, analysts anticipate that Orchid Island Capital will post 0.37 earnings per share for the current fiscal year.

Institutional Trading of Orchid Island Capital

Hedge funds and other institutional investors have recently modified their holdings of the business. Rogco LP purchased a new stake in shares of Orchid Island Capital during the first quarter worth about $28,000. US Bancorp DE increased its holdings in Orchid Island Capital by 1,123.1% in the first quarter. US Bancorp DE now owns 3,816 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 3,504 shares during the last quarter. Bogart Wealth LLC increased its holdings 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 valued at $28,000 after buying an additional 1,540 shares during the last quarter. Quarry LP bought a new stake in Orchid Island Capital in the first quarter valued at about $50,000. Finally, Raymond James Financial Inc. bought a new stake in Orchid Island Capital in the second quarter valued at about $55,000. 32.74% of the stock is owned by hedge funds and other institutional investors.

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.