Orchid Island Capital, Inc. (NYSE:ORC – Get Free Report) announced a monthly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Investors of record on Friday, November 29th will be given a dividend of 0.12 per share by the real estate investment trust on Monday, December 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 18.54%. The ex-dividend date is Friday, November 29th.
Orchid Island Capital has increased its dividend by an average of 164.3% per year over the last three years. Orchid Island Capital has a dividend payout ratio of 1,028.6% 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 $0.22 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 654.5%.
Orchid Island Capital Stock Performance
Shares of Orchid Island Capital stock traded down $0.03 during trading on Thursday, hitting $7.77. 1,133,814 shares of the company’s stock were exchanged, compared to its average volume of 1,625,225. The stock has a market capitalization of $608.93 million, a price-to-earnings ratio of 7.40 and a beta of 1.85. The business has a 50-day simple moving average of $7.97 and a 200-day simple moving average of $8.23. Orchid Island Capital has a 52-week low of $7.00 and a 52-week high of $9.08.
Analyst Upgrades and Downgrades
Separately, JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday, August 28th.
View Our Latest Report on Orchid Island Capital
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.
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