Orchid Island Capital Inc (NYSE:ORC) declared a monthly dividend on Wednesday, February 12th, Zacks reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, March 27th. This represents a $0.96 dividend on an annualized basis and a yield of 15.43%. The ex-dividend date is Thursday, February 27th.
Orchid Island Capital has decreased its dividend payment by an average of 17.0% annually over the last three years. Orchid Island Capital has a payout ratio of 109.1% indicating that 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 $0.83 per share next year, which means the company may not be able to cover its $0.96 annual dividend with an expected future payout ratio of 115.7%.
NYSE:ORC opened at $6.22 on Friday. The company has a market cap of $391.03 million, a P/E ratio of -16.81 and a beta of 0.49. Orchid Island Capital has a fifty-two week low of $5.04 and a fifty-two week high of $7.15. The firm’s 50 day moving average is $6.07 and its two-hundred day moving average is $5.86.
A number of equities analysts have weighed in on ORC shares. ValuEngine downgraded shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Zacks Investment Research raised shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, December 31st.
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 are backed primarily by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS; and structured Agency RMBS, including collateralized mortgage obligations, interest only securities, inverse interest only securities, and principal only securities.
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