Orchid Island Capital, Inc. (NYSE:ORC) Plans $0.10 Monthly Dividend

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Tuesday, June 9th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.10 per share by the real estate investment trust on Thursday, July 30th. This represents a c) annualized dividend and a yield of 18.1%. The ex-dividend date is Tuesday, June 30th.

Orchid Island Capital has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 1 years. Orchid Island Capital has a dividend payout ratio of 151.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Orchid Island Capital Trading Up 2.9%

Shares of ORC stock opened at $6.64 on Wednesday. Orchid Island Capital has a 12-month low of $6.41 and a 12-month high of $8.40. The company has a market capitalization of $1.33 billion, a P/E ratio of 8.85 and a beta of 1.55. The firm has a 50-day moving average price of $6.94 and a 200 day moving average price of $7.28. The company has a quick ratio of 509.34, a current ratio of 509.34 and a debt-to-equity ratio of 0.26.

Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, April 23rd. The real estate investment trust reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. The company had revenue of ($12.56) million during the quarter, compared to analyst estimates of $33.03 million.

Institutional Investors Weigh In On Orchid Island Capital

Institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its position in shares of Orchid Island Capital by 64.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,502 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Orchid Island Capital by 32,505.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 6,521 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 6,501 shares during the last quarter. McIlrath & Eck LLC boosted its stake in Orchid Island Capital by 157.2% during the 1st quarter. McIlrath & Eck LLC now owns 7,418 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 4,534 shares during the last quarter. Raymond James Financial Inc. bought a new position in Orchid Island Capital during the 2nd quarter worth approximately $55,000. Finally, CWM LLC boosted its stake in Orchid Island Capital by 72.0% during the 4th quarter. CWM LLC now owns 7,797 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 3,263 shares during the last quarter. Institutional investors and hedge funds own 32.74% of the company’s stock.

About Orchid Island Capital

Orchid Island Capital is a real estate investment trust that specializes in investing in residential mortgage?backed securities (RMBS), with a primary focus on mortgage pass?through securities guaranteed by the Government National Mortgage Association (Ginnie Mae). Structured to elect and maintain status as a REIT under the U.S. Internal Revenue Code, the company’s principal business strategy involves acquiring pools of U.S. residential mortgages in the secondary market and holding them to generate interest income.