Orchid Island Capital (NYSE:ORC) Issues Earnings Results

Orchid Island Capital (NYSE:ORC) posted its quarterly earnings data 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 business had revenue of $59.13 million for the quarter, compared to analyst estimates of $73.41 million.

Orchid Island Capital Price Performance

Shares of Orchid Island Capital stock opened at $4.89 on Friday. The stock has a market cap of $977.04 million, a P/E ratio of 5.60 and a beta of 1.60. The stock’s 50 day simple moving average is $5.92 and its 200-day simple 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ORC shares. Weiss Ratings cut shares of Orchid Island Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. BTIG Research assumed coverage on shares of Orchid Island Capital in a research note on Thursday, July 9th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price 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.