Orchid Island Capital (NYSE:ORC) Announces Quarterly Earnings Results

Orchid Island Capital (NYSE:ORC) posted its quarterly earnings results on Thursday. The real estate investment trust reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($1.19), reports. The company had revenue of $59.13 million during the quarter, compared to analyst estimates of $73.41 million.

Orchid Island Capital Trading Up 0.5%

Shares of ORC stock opened at $4.89 on Friday. The firm has a market capitalization of $977.04 million, a price-to-earnings ratio of 5.60 and a beta of 1.60. The firm’s 50 day moving average is $5.92 and its 200-day moving average is $6.50. Orchid Island Capital has a 1 year low of $4.75 and a 1 year high of $8.40.

Orchid Island Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, October 30th will be given a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 24.5%. The ex-dividend date is Friday, October 30th. Orchid Island Capital’s dividend payout ratio (DPR) is presently 81.08%.

Wall Street Analyst Weigh In

ORC has been the subject of several analyst reports. BTIG Research started coverage on Orchid Island Capital in a research report on Thursday, July 9th. They set a “neutral” rating for the company. Weiss Ratings lowered shares of Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Orchid Island Capital currently has a consensus rating of “Reduce” and an average price target of $7.50.

About Orchid Island Capital

Orchid Island Capital, Inc is a real estate investment trust (REIT) that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio is focused mainly on agency securities, which are backed by residential mortgage loans and guaranteed by government-sponsored entities such as Fannie Mae and Freddie Mac or by Ginnie Mae.

The company seeks to generate income from its mortgage investments, primarily through the difference between the returns on its assets and the cost of financing those assets.