Orchid Island Capital Inc (ORC) Announces Monthly Dividend of $0.14
Orchid Island Capital Inc (NYSE:ORC) announced a monthly dividend on Thursday, August 10th, Wall Street Journal reports. Shareholders of record on Thursday, August 31st will be paid a dividend of 0.14 per share by the real estate investment trust on Friday, September 8th. This represents a $1.68 annualized dividend and a yield of 17.55%. The ex-dividend date is Tuesday, August 29th.
Orchid Island Capital has increased its dividend by an average of 3.4% per year over the last three years.
Shares of Orchid Island Capital (NYSE:ORC) traded down 0.21% during mid-day trading on Thursday, reaching $9.57. The company’s stock had a trading volume of 514,645 shares. Orchid Island Capital has a 52-week low of $9.18 and a 52-week high of $12.60. The company has a 50-day moving average price of $9.85 and a 200 day moving average price of $10.35. The company’s market cap is $433.55 million.
Orchid Island Capital (NYSE:ORC) last announced its earnings results on Monday, July 31st. The real estate investment trust reported ($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.68. Orchid Island Capital had a negative return on equity of 10.28% and a negative net margin of 486.53%. Equities analysts expect that Orchid Island Capital will post $1.09 earnings per share for the current year.
A number of equities analysts have recently commented on ORC shares. BidaskClub cut Orchid Island Capital from a “buy” rating to a “hold” rating in a report on Friday, July 28th. TheStreet cut Orchid Island Capital from a “c” rating to a “d” rating in a report on Monday, July 31st.
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In other Orchid Island Capital news, Director W Coleman Bitting purchased 2,912 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was purchased at an average cost of $10.10 per share, with a total value of $29,411.20. Following the purchase, the director now owns 18,650 shares of the company’s stock, valued at $188,365. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.
About Orchid Island Capital
Orchid Island Capital, Inc is a specialty finance company that invests in residential mortgage-backed securities (RMBS). The Company’s business objective is to provide attractive risk-adjusted total returns to its investors over the long term through a combination of capital appreciation and the payment of regular monthly distributions.
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