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

Orchid Island Capital, Inc. (NYSE:ORC - Get Free Report) declared a monthly dividend on Thursday, July 10th, Wall Street Journal reports. Shareholders of record on Thursday, July 31st will be given a dividend of 0.12 per share by the real estate investment trust on Thursday, August 28th. This represents a $1.44 annualized dividend and a yield of 20.11%. The ex-dividend date is Thursday, July 31st.

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 Performance

Shares of NYSE ORC traded down $0.04 during mid-day trading on Friday, reaching $7.16. The company had a trading volume of 2,403,262 shares, compared to its average volume of 2,860,236. Orchid Island Capital has a one year low of $5.69 and a one year high of $9.01. The firm has a market cap of $867.86 million, a price-to-earnings ratio of 17.90 and a beta of 1.49. The business's 50-day simple moving average is $7.05 and its 200 day simple moving average is $7.53.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ORC shares. Jones Trading restated a "hold" rating on shares of Orchid Island Capital in a research report on Wednesday, April 30th. Wall Street Zen upgraded Orchid Island Capital from a "sell" rating to a "hold" rating in a research report on Friday, May 16th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ORC. AQR Capital Management LLC bought a new position in Orchid Island Capital in the first quarter valued at about $84,000. Millennium Management LLC grew its position in Orchid Island Capital by 234.9% in 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 acquiring an additional 726,907 shares during the last quarter. Finally, Strs Ohio bought a new position in Orchid Island Capital in the first quarter valued at about $111,000. 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.