Orchid Island Capital, Inc. (ORC) to Distribute Monthly Dividend of $0.10 on November 27th

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Wednesday, October 14th. Investors of record on Friday, October 30th will be given a dividend of $0.10 per share by the real estate investment trust on Friday, November 27th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 23.2%. The ex-dividend date of this dividend is Friday, October 30th.

Orchid Island Capital has decreased its dividend by an average of 0.2% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Orchid Island Capital has a payout ratio of 151.9% indicating that 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 Up 1.9%

ORC stock opened at $5.17 on Friday. The stock has a market cap of $1.03 billion, a PE ratio of 5.84 and a beta of 1.60. The firm’s 50-day simple moving average is $6.09 and its 200 day simple moving average is $6.57. Orchid Island Capital has a fifty-two week low of $4.85 and a fifty-two week high of $8.40.

Orchid Island Capital (NYSE:ORC) last posted its earnings results 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 business had revenue of $59.97 million for the quarter, compared to analysts’ expectations of $74.26 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd lifted its holdings in Orchid Island Capital by 425.8% in 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 purchasing an additional 469,076 shares during the period. Bank of New York Mellon Corp acquired a new position in Orchid Island Capital during the 2nd quarter valued at about $3,899,000. Cetera Investment Advisers increased its stake in Orchid Island Capital by 12.6% during the 1st quarter. Cetera Investment Advisers now owns 431,038 shares of the real estate investment trust’s stock valued at $3,030,000 after buying an additional 48,369 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Orchid Island Capital during the 1st quarter valued at about $2,894,000. Finally, Swiss National Bank raised its position in shares of Orchid Island Capital by 26.0% during the 1st quarter. Swiss National Bank now owns 362,800 shares of the real estate investment trust’s stock worth $2,550,000 after buying an additional 74,800 shares in the last quarter. 32.74% of the stock is owned by institutional investors and hedge funds.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc is a real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS) issued or guaranteed by U.S. government-sponsored entities. Its portfolio generally consists of agency securities backed by mortgages insured or guaranteed by the Government National Mortgage Association (Ginnie Mae), Federal National Mortgage Association (Fannie Mae), and Federal Home Loan Mortgage Corporation (Freddie Mac).

The company seeks to generate income from its investments and manage interest-rate and prepayment risks through portfolio construction, financing arrangements, and hedging strategies.