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

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) announced a jun 25 dividend on Tuesday, June 10th, RTT News reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.12 per share by the real estate investment trust on Wednesday, July 30th. This represents a dividend yield of 20.5%. The ex-dividend date is Monday, June 30th.

Orchid Island Capital has a dividend 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 1.1%

Shares of ORC stock traded up $0.08 on Thursday, reaching $7.10. The company's stock had a trading volume of 2,354,963 shares, compared to its average volume of 3,581,898. The company has a market capitalization of $775.46 million, a P/E ratio of 11.83 and a beta of 1.49. Orchid Island Capital has a 12-month low of $5.68 and a 12-month high of $9.01. The stock's 50 day simple moving average is $6.86 and its 200-day simple moving average is $7.66.

Orchid Island Capital (NYSE:ORC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $19.71 million during the quarter, compared to analysts' expectations of $11.96 million. Research analysts expect that Orchid Island Capital will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Orchid Island Capital

Several institutional investors have recently modified their holdings of ORC. AQR Capital Management LLC purchased a new stake in Orchid Island Capital in the first quarter worth approximately $84,000. Strs Ohio bought a new stake in shares of Orchid Island Capital in the 1st quarter worth approximately $111,000. Finally, Millennium Management LLC boosted its stake in shares of Orchid Island Capital by 234.9% in the 1st quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust's stock valued at $7,794,000 after purchasing an additional 726,907 shares in the last quarter. 32.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Orchid Island Capital from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Jones Trading reaffirmed a "hold" rating on shares of Orchid Island Capital in a report on Wednesday, April 30th.

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.