Orchid Island Capital (NYSE:ORC) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Orchid Island Capital (NYSE:ORC) issued its earnings results on Thursday. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.08, Zacks reports.

Orchid Island Capital Trading Up 2.6 %

Shares of ORC stock opened at $8.12 on Friday. The stock has a market capitalization of $648.06 million, a price-to-earnings ratio of 7.71 and a beta of 1.82. Orchid Island Capital has a 12-month low of $7.41 and a 12-month high of $9.08. The stock’s 50-day moving average price is $7.89 and its 200-day moving average price is $8.00.

Orchid Island Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, January 31st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.74%. Orchid Island Capital’s payout ratio is 137.14%.

Analyst Ratings Changes

Separately, JMP Securities reiterated a “market perform” rating on shares of Orchid Island Capital in a research report on Thursday, January 23rd.

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.