Orchid Island Capital, Inc. (NYSE:ORC) announced a monthly dividend on Tuesday, October 12th, Zacks reports. Investors of record on Friday, October 29th will be paid a dividend of 0.065 per share by the real estate investment trust on Friday, November 26th. This represents a $0.78 annualized dividend and a dividend yield of 15.57%. The ex-dividend date of this dividend is Thursday, October 28th.
Orchid Island Capital has decreased its dividend payment by 53.0% over the last three years and has raised its dividend annually for the last 2 consecutive years. Orchid Island Capital has a dividend payout ratio of 79.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Orchid Island Capital to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 78.0%.
Shares of Orchid Island Capital stock opened at $5.01 on Thursday. The firm has a market capitalization of $691.66 million, a PE ratio of 35.79 and a beta of 1.29. The firm’s 50 day moving average is $5.01 and its 200 day moving average is $5.29. Orchid Island Capital has a 1 year low of $4.80 and a 1 year high of $6.22.
Several equities research analysts recently issued reports on the stock. TheStreet lowered shares of Orchid Island Capital from a “c-” rating to a “d” rating in a report on Friday, July 30th. Jonestrading raised shares of Orchid Island Capital from a “sell” rating to a “hold” rating in a report on Friday, September 10th. Finally, Zacks Investment Research raised shares of Orchid Island Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 5th.
A hedge fund recently raised its stake in Orchid Island Capital stock. Royal Bank of Canada raised its position in Orchid Island Capital, Inc. (NYSE:ORC) by 45.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 27,327 shares of the real estate investment trust’s stock after purchasing an additional 8,545 shares during the period. Royal Bank of Canada’s holdings in Orchid Island Capital were worth $142,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 31.78% of the company’s stock.
About Orchid Island Capital
Orchid Island Capital, Inc operates as a specialty finance company, which engages in investing in residential mortgage-backed securities (RMBS). Its portfolio consists of traditional pass-through Agency RMBS and structured Agency RMBS. The traditional pass-through Agency RMBS include mortgage pass through certificates and collateralized mortgage obligations.
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