Orchid Island Capital, Inc. (NYSE:ORC) Shareholders to Get $0.10 Monthly Dividend

Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Tuesday, November 10th. Stockholders of record on Monday, November 30th will be paid a dividend of $0.10 per share by the real estate investment trust on Thursday, December 31st. This represents a $1.20 annualized dividend and a dividend yield of 24.8%. The ex-dividend date of this dividend is Monday, November 30th.

Orchid Island Capital has decreased its dividend by an average of 0.2% per year over the last three years and has raised 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 Stock Down 1.3%

Orchid Island Capital stock traded down $0.07 during midday trading on Wednesday, reaching $4.83. The stock had a trading volume of 1,082,528 shares, compared to its average volume of 5,977,788. The firm has a market cap of $933.12 million, a price-to-earnings ratio of 96.90 and a beta of 1.64. Orchid Island Capital has a 52-week low of $4.70 and a 52-week high of $8.40. The company has a fifty day moving average of $5.47 and a 200 day moving average of $6.63.

Orchid Island Capital (NYSE:ORC) last announced its earnings results on Thursday, October 22nd. 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). The business had revenue of $59.13 million during the quarter, compared to analyst estimates of $73.41 million.

Institutional Investors Weigh In On Orchid Island Capital

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new stake in Orchid Island Capital during the second quarter worth $3,899,000. Independent Financial Group LLC purchased a new position in shares of Orchid Island Capital in the 1st quarter valued at $1,687,000. Jennison Associates LLC bought a new position in shares of Orchid Island Capital in the 1st quarter worth $1,187,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Orchid Island Capital in the 1st quarter worth $2,894,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Orchid Island Capital in the 2nd quarter worth $690,000. Institutional investors own 32.74% of the company’s stock.

Orchid Island Capital Company Profile

Orchid Island Capital, Inc. is a mortgage real estate investment trust that invests primarily in residential mortgage-backed securities (RMBS). Its portfolio focuses on agency RMBS, whose principal and interest payments are guaranteed by U.S. government-sponsored enterprises or agencies, including Fannie Mae, Freddie Mac and Ginnie Mae. The company’s investments include mortgage pass-through securities and structured mortgage securities tied to U.S. residential loans. Orchid Island Capital seeks to generate income from its portfolio and finances its investments through borrowings, including repurchase agreements.