Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Thursday, January 13th, Zacks reports. Stockholders of record on Monday, January 31st will be given a dividend of 0.055 per share by the real estate investment trust on Thursday, February 24th. This represents a $0.66 annualized dividend and a dividend yield of 15.64%. The ex-dividend date of this dividend is Friday, January 28th.
Orchid Island Capital has decreased its dividend by 27.1% over the last three years and has raised its dividend annually for the last 1 consecutive years. Orchid Island Capital has a payout ratio of 83.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Orchid Island Capital to earn $0.96 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 81.3%.
NYSE:ORC opened at $4.22 on Friday. Orchid Island Capital has a 1 year low of $4.16 and a 1 year high of $6.22. The stock has a fifty day moving average price of $4.64 and a two-hundred day moving average price of $4.90.
A number of equities analysts recently issued reports on the company. Zacks Investment Research upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Tuesday, January 4th. JMP Securities assumed coverage on Orchid Island Capital in a report on Wednesday. They set a “market perform” rating on the stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its stake in shares of Orchid Island Capital by 424.8% in the 2nd quarter. Morgan Stanley now owns 923,573 shares of the real estate investment trust’s stock valued at $4,794,000 after purchasing an additional 747,586 shares during the period. Bank of New York Mellon Corp increased its holdings in Orchid Island Capital by 34.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 396,915 shares of the real estate investment trust’s stock worth $1,941,000 after purchasing an additional 101,509 shares in the last quarter. UBS Group AG grew its holdings in shares of Orchid Island Capital by 65.2% in the 3rd quarter. UBS Group AG now owns 252,321 shares of the real estate investment trust’s stock valued at $1,234,000 after acquiring an additional 99,619 shares in the last quarter. American International Group Inc. grew its holdings in shares of Orchid Island Capital by 27.3% in the 3rd quarter. American International Group Inc. now owns 67,653 shares of the real estate investment trust’s stock valued at $331,000 after acquiring an additional 14,516 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Orchid Island Capital by 224.0% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 34,356 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 23,753 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.
About Orchid Island Capital
Orchid Island Capital, Inc operates as a specialty finance company, which engages in investing in residential mortgage-backed securities (RMBS). Its portfolio consists of traditional pass-through Agency RMBS and structured Agency RMBS. The traditional pass-through Agency RMBS include mortgage pass through certificates and collateralized mortgage obligations.
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