Orchid Island Capital, Inc. (NYSE:ORC) Plans $0.12 Jun 25 Dividend

Orchid Island Capital, Inc. (NYSE:ORC) declared a jun 25 dividend on Tuesday, June 10th, RTT News reports. Shareholders of record on Monday, June 30th will be given a dividend of 0.12 per share by the real estate investment trust on Wednesday, July 30th.

Orchid Island Capital has a payout ratio of 182.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Orchid Island Capital to earn $0.43 per share next year, which means the company may not be able to cover its $1.44 annual dividend with an expected future payout ratio of 334.9%.

Orchid Island Capital Stock Performance

Shares of ORC traded up $0.02 during mid-day trading on Wednesday, hitting $7.10. 1,043,371 shares of the company’s stock were exchanged, compared to its average volume of 2,675,923. The stock’s 50-day moving average is $6.85 and its 200-day moving average is $7.66. Orchid Island Capital has a fifty-two week low of $5.69 and a fifty-two week high of $9.01. The company has a market cap of $774.92 million, a price-to-earnings ratio of 11.83 and a beta of 1.49.

Orchid Island Capital (NYSE:ORC) last released its earnings results on Thursday, April 24th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $19.71 million for the quarter, compared to the consensus estimate of $11.96 million. As a group, equities research analysts anticipate that Orchid Island Capital will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ORC shares. Wall Street Zen upgraded Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Jones Trading reaffirmed a “hold” rating on shares of Orchid Island Capital in a research report on Wednesday, April 30th.

Institutional Investors Weigh In On Orchid Island Capital

Large investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in shares of Orchid Island Capital during the first quarter worth $84,000. Strs Ohio purchased a new stake in Orchid Island Capital during the 1st quarter worth about $111,000. Finally, Millennium Management LLC boosted its position in shares of Orchid Island Capital by 234.9% during the 1st quarter. Millennium Management LLC now owns 1,036,387 shares of the real estate investment trust’s stock worth $7,794,000 after acquiring an additional 726,907 shares in the last quarter. 32.74% of the stock is owned by hedge funds and other institutional investors.

About Orchid Island Capital

Orchid Island Capital, Inc, a specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States. The company’s RMBS is backed by single-family residential mortgage loans, referred as Agency RMBS. Its portfolio includes traditional pass-through Agency RMBS, such as mortgage pass through certificates and collateralized mortgage obligations; and structured Agency RMBS comprising interest only securities, inverse interest only securities, and principal only securities.