Orchid Island Capital Inc (NYSE:ORC) declared a monthly dividend on Thursday, April 18th, Wall Street Journal reports. Investors of record on Tuesday, April 30th will be given a dividend of 0.08 per share by the real estate investment trust on Friday, May 31st. This represents a $0.96 dividend on an annualized basis and a yield of 14.06%. The ex-dividend date is Monday, April 29th.
Orchid Island Capital has decreased its dividend payment by an average of 14.1% annually over the last three years. Orchid Island Capital has a payout ratio of 64.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Orchid Island Capital to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 89.7%.
ORC stock traded down $0.05 during trading on Thursday, reaching $6.83. The company had a trading volume of 236,879 shares, compared to its average volume of 529,963. Orchid Island Capital has a 52 week low of $5.83 and a 52 week high of $8.35. The company has a market cap of $334.80 million, a P/E ratio of 4.95 and a beta of 0.40.
Orchid Island Capital (NYSE:ORC) last released its quarterly earnings results on Thursday, February 21st. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter. As a group, equities research analysts anticipate that Orchid Island Capital will post 1.04 earnings per share for the current year.
A number of equities analysts recently issued reports on ORC shares. Zacks Investment Research raised shares of Orchid Island Capital from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a research note on Saturday, February 23rd. ValuEngine raised shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd.
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Orchid Island Capital Company Profile
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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