Orchid Island Capital, Inc. (ORC) to Distribute Monthly Dividend of $0.10 on October 29th

Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Monday, September 14th. Investors of record on Wednesday, September 30th will be given a dividend of 0.10 per share by the real estate investment trust on Thursday, October 29th. This represents a c) annualized dividend and a yield of 19.8%. The ex-dividend date is Wednesday, September 30th.

Orchid Island Capital has decreased its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 1 consecutive 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 Stock Performance

NYSE:ORC opened at $6.08 on Wednesday. The business has a fifty day simple moving average of $6.61 and a two-hundred day simple moving average of $6.84. Orchid Island Capital has a 1 year low of $6.07 and a 1 year high of $8.40. The company has a market capitalization of $1.21 billion, a P/E ratio of 4.10 and a beta of 1.55. The company has a debt-to-equity ratio of 0.34, a current ratio of 509.34 and a quick ratio of 509.34.

Orchid Island Capital (NYSE:ORC) last announced its quarterly earnings data on Thursday, July 23rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The company had revenue of $59.97 million during the quarter, compared to analyst estimates of $74.26 million.

Hedge Funds Weigh In On Orchid Island Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd raised its stake in shares of Orchid Island Capital by 425.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 579,236 shares of the real estate investment trust’s stock worth $4,072,000 after acquiring an additional 469,076 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Orchid Island Capital in the second quarter worth $3,899,000. Cetera Investment Advisers lifted its stake in Orchid Island Capital by 12.6% in the first quarter. Cetera Investment Advisers now owns 431,038 shares of the real estate investment trust’s stock worth $3,030,000 after purchasing an additional 48,369 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Orchid Island Capital during the first quarter valued at about $2,894,000. Finally, Swiss National Bank grew its stake in shares of Orchid Island Capital by 26.0% during the first quarter. Swiss National Bank now owns 362,800 shares of the real estate investment trust’s stock valued at $2,550,000 after buying an additional 74,800 shares during the last quarter. 32.74% of the stock is currently owned by hedge funds and other institutional investors.

About Orchid Island Capital

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

The company seeks to generate income from its investments and finances portions of its portfolio through borrowings, including repurchase agreements.