Orchid Island Capital, Inc. Plans Monthly Dividend of $0.14 (ORC)
Orchid Island Capital, Inc. (NYSE:ORC) declared a monthly dividend on Friday, September 15th, Wall Street Journal reports. Investors of record on Friday, September 29th will be given a dividend of 0.14 per share by the real estate investment trust on Tuesday, October 10th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 16.87%. The ex-dividend date of this dividend is Thursday, September 28th.
Orchid Island Capital has increased its dividend payment by an average of 3.4% annually over the last three years.
Orchid Island Capital (NYSE:ORC) traded up 0.81% during trading on Friday, hitting $9.96. 3,720,808 shares of the company were exchanged. The company’s market capitalization is $451.22 million. Orchid Island Capital has a 12 month low of $9.18 and a 12 month high of $12.60. The stock’s 50-day moving average is $9.68 and its 200-day moving average is $10.01.
Orchid Island Capital (NYSE:ORC) last released its quarterly earnings data on Monday, July 31st. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.68). Equities research analysts anticipate that Orchid Island Capital will post $0.78 earnings per share for the current year.
Several equities research analysts recently issued reports on ORC shares. BidaskClub cut shares of Orchid Island Capital from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. TheStreet cut shares of Orchid Island Capital from a “c” rating to a “d” rating in a research report on Monday, July 31st.
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In other news, Director W Coleman Bitting acquired 2,912 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was purchased at an average cost of $10.10 per share, for a total transaction of $29,411.20. Following the completion of the transaction, the director now owns 18,650 shares in the company, valued at $188,365. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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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