Orchid Island Capital (NYSE:ORC) Issues Earnings Results

Orchid Island Capital (NYSE:ORC) released its quarterly earnings results on Thursday. The real estate investment trust reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05), Zacks reports. During the same quarter last year, the business earned ($0.28) earnings per share.

Orchid Island Capital Price Performance

Shares of Orchid Island Capital stock traded up $0.03 on Friday, hitting $7.91. The company had a trading volume of 2,375,938 shares, compared to its average volume of 1,599,797. Orchid Island Capital has a twelve month low of $5.90 and a twelve month high of $9.08. The stock has a 50-day moving average of $8.10 and a 200-day moving average of $8.29. The firm has a market capitalization of $564.30 million, a P/E ratio of -9.09 and a beta of 1.85.

Orchid Island Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued 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 (DPR) is presently -165.52%.

Analysts Set New Price Targets

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

About Orchid Island Capital

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.