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

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 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 Down 0.9%

Shares of Orchid Island Capital stock traded down $0.07 on Friday, reaching $7.04. 2,292,219 shares of the company were exchanged, compared to its average volume of 2,710,119. The stock has a fifty day moving average price of $6.89 and a 200-day moving average price of $7.65. The firm has a market capitalization of $768.36 million, a price-to-earnings ratio of 11.73 and a beta of 1.49. Orchid Island Capital has a fifty-two week low of $5.69 and a fifty-two week high of $9.01.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ORC shares. Wall Street Zen raised Orchid Island Capital from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Jones Trading reiterated a "hold" rating on shares of Orchid Island Capital in a report on Wednesday, April 30th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ORC. AQR Capital Management LLC purchased a new position in shares of Orchid Island Capital during the first quarter valued at $84,000. Millennium Management LLC grew its holdings in shares of Orchid Island Capital by 234.9% during the first quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust's stock valued at $7,794,000 after buying an additional 726,907 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Orchid Island Capital during the first quarter valued at $111,000. Hedge funds and other institutional investors own 32.74% of the company's stock.

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.