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

Key Points

• Orchid Island Capital declared a monthly dividend of $0.10 per share, payable September 29 to shareholders of record on August 31. The dividend implies an annualized yield of approximately 18.1%.
• The dividend appears financially strained, with a 151.9% payout ratio; the company’s earnings do not currently cover distributions, and its dividend has declined slightly on average over the past three years.
• Orchid Island Capital reported quarterly EPS of $0.26, below the $0.28 consensus estimate, while revenue of $59.97 million also missed expectations. Analysts’ average rating is “Reduce,” with a consensus price target of $7.50.

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) declared a monthly dividend on Wednesday, August 12th. Shareholders of record on Monday, August 31st will be paid a dividend of 0.10 per share by the real estate investment trust on Tuesday, September 29th. This represents a c) dividend on an annualized basis and a yield of 18.1%. The ex-dividend date of this dividend is Monday, August 31st.

Orchid Island Capital has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 1 consecutive 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 Stock Up 0.9%

NYSE:ORC opened at $6.63 on Thursday. The company has a current ratio of 509.34, a quick ratio of 509.34 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average of $6.69 and a 200-day moving average of $7.04. The firm has a market capitalization of $1.32 billion, a PE ratio of 4.48 and a beta of 1.55. Orchid Island Capital has a 52 week low of $6.31 and a 52 week high of $8.40.

Orchid Island Capital (NYSE:ORC - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $59.97 million during the quarter, compared to analyst estimates of $74.26 million.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ORC shares. Wall Street Zen cut Orchid Island Capital from a "hold" rating to a "sell" rating in a research note on Tuesday, May 5th. BTIG Research initiated coverage on shares of Orchid Island Capital in a report on Thursday, July 9th. They issued a "neutral" rating on the stock. Finally, Weiss Ratings upgraded shares of Orchid Island Capital from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $7.50.

Orchid Island Capital Company Profile

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage‐backed securities (RMBS), with a primary focus on mortgage pass‐through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company's principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source