Orchid Island Capital Inc (NYSE:ORC) declared a monthly dividend on Thursday, December 14th, Wall Street Journal reports. Stockholders of record on Friday, December 29th will be paid a dividend of 0.14 per share by the real estate investment trust on Wednesday, January 10th. This represents a $1.68 annualized dividend and a dividend yield of 17.70%. The ex-dividend date of this dividend is Thursday, December 28th.

Orchid Island Capital has raised its dividend by an average of 3.4% annually over the last three years. Orchid Island Capital has a dividend payout ratio of 83.6% 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 $1.55 per share next year, which means the company may not be able to cover its $1.68 annual dividend with an expected future payout ratio of 108.4%.

Shares of Orchid Island Capital (NYSE ORC) traded up $0.02 during mid-day trading on Wednesday, hitting $9.49. 356,114 shares of the stock traded hands, compared to its average volume of 956,554. The stock has a market capitalization of $435.31, a P/E ratio of -16.65 and a beta of 0.49. Orchid Island Capital has a fifty-two week low of $9.18 and a fifty-two week high of $12.60.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Orchid Island Capital from a “hold” rating to a “strong-buy” rating and set a $11.00 target price for the company in a research note on Thursday, November 2nd. ValuEngine downgraded shares of Orchid Island Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $11.00.

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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.

Dividend History for Orchid Island Capital (NYSE:ORC)

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