Orchid Island Capital (NYSE:ORC) Announces Quarterly Earnings Results

Orchid Island Capital (NYSE:ORC) posted its earnings results on Thursday. The real estate investment trust reported ($0.05) earnings per share for the quarter, meeting the consensus estimate of ($0.05), Zacks reports. During the same period in the prior year, the business earned ($0.28) EPS.

Orchid Island Capital Stock Performance

Shares of NYSE:ORC traded up $0.03 during midday trading on Friday, hitting $7.91. The company’s stock had a trading volume of 2,375,938 shares, compared to its average volume of 1,599,797. The stock has a market capitalization of $564.30 million, a price-to-earnings ratio of -9.09 and a beta of 1.85. The stock’s 50 day simple moving average is $8.10 and its 200 day simple moving average is $8.29. Orchid Island Capital has a fifty-two week low of $5.90 and a fifty-two week high of $9.08.

Orchid Island Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 18.20%. The ex-dividend date is Thursday, October 31st. Orchid Island Capital’s dividend payout ratio is currently -165.52%.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Orchid Island Capital in a research report on Wednesday, August 28th.

Orchid Island Capital Company Profile

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.