Orchid Island Capital Inc (NYSE:ORC) declared a monthly dividend on Thursday, March 8th, Zacks reports. Stockholders of record on Thursday, March 29th will be given a dividend of 0.09 per share by the real estate investment trust on Tuesday, April 10th. This represents a $1.08 annualized dividend and a dividend yield of 14.67%. The ex-dividend date of this dividend is Wednesday, March 28th.
Orchid Island Capital has decreased its dividend by an average of 8.0% annually over the last three years. Orchid Island Capital has a payout ratio of 65.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Orchid Island Capital to earn $1.50 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 88.0%.
Orchid Island Capital (NYSE ORC) remained flat at $$7.36 during mid-day trading on Friday. The stock had a trading volume of 281,896 shares, compared to its average volume of 1,403,210. Orchid Island Capital has a twelve month low of $6.77 and a twelve month high of $11.13. The stock has a market capitalization of $388.97, a P/E ratio of 368.50 and a beta of 0.32.
Orchid Island Capital (NYSE:ORC) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.49 earnings per share for the quarter. equities research analysts expect that Orchid Island Capital will post 1.45 earnings per share for the current year.
Orchid Island Capital declared that its board has authorized a stock buyback program on Thursday, February 8th that allows the company to repurchase 4,520,000 shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Several research firms have recently weighed in on ORC. ValuEngine lowered Orchid Island Capital from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Zacks Investment Research lowered Orchid Island Capital from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 14th.
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Orchid Island Capital Company Profile
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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