Orchid Island Capital (NYSE:ORC) Issues Earnings Results, Meets Expectations

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

Orchid Island Capital Trading Up 0.4 %

ORC traded up $0.03 during trading on Friday, hitting $7.91. The stock had a trading volume of 2,375,938 shares, compared to its average volume of 1,599,797. The firm has a market cap of $564.30 million, a PE ratio of -9.09 and a beta of 1.85. Orchid Island Capital has a 12 month low of $5.90 and a 12 month high of $9.08. The company has a 50 day simple moving average of $8.10 and a 200-day simple moving average of $8.29.

Orchid Island Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.44 annualized dividend and a yield of 18.20%. Orchid Island Capital’s dividend payout ratio (DPR) is presently -165.52%.

Wall Street Analyst Weigh In

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.