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

Posted by ABMN Staff on Aug 29th, 2024

Orchid Island Capital, Inc. (NYSE:ORC – Get Free Report) declared a monthly dividend on Wednesday, August 14th, NASDAQ reports. Shareholders of record on Friday, August 30th will be paid a dividend of 0.12 per share by the real estate investment trust on Friday, September 27th. This represents a $1.44 dividend on an annualized basis and a yield of 17.37%. The ex-dividend date is Friday, August 30th.

Orchid Island Capital has raised its dividend by an average of 164.3% per year over the last three years. Orchid Island Capital has a payout ratio of 2,057.1% 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 $0.09 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 1,600.0%.

Orchid Island Capital Stock Performance

NYSE:ORC traded up $0.01 during trading on Thursday, reaching $8.29. The company’s stock had a trading volume of 134,240 shares, compared to its average volume of 1,458,507. The firm has a market cap of $439.15 million, a price-to-earnings ratio of -15.61 and a beta of 1.86. The firm has a 50 day moving average of $8.29 and a 200-day moving average of $8.45. Orchid Island Capital has a 12 month low of $5.90 and a 12 month high of $9.69.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ORC shares. Janney Montgomery Scott started coverage on Orchid Island Capital in a research note on Thursday, June 6th. They issued a “buy” rating and a $9.50 price objective for the company. JMP Securities restated a “market perform” rating on shares of Orchid Island Capital in a research note on Wednesday.

Read Our Latest Stock Report on Orchid Island Capital

About Orchid Island Capital

(Get Free Report)

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.