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

Orchid Island Capital (NYSE:ORC) issued its quarterly earnings data 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 Stock Up 2.0 %

Shares of Orchid Island Capital stock traded up $0.16 on Thursday, reaching $8.04. The stock had a trading volume of 4,419,938 shares, compared to its average volume of 2,600,359. Orchid Island Capital has a 1 year low of $7.41 and a 1 year high of $9.08. The company has a 50 day moving average price of $7.89 and a 200 day moving average price of $8.00. The stock has a market capitalization of $641.59 million, a P/E ratio of 7.65 and a beta of 1.82.

Orchid Island Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Friday, January 31st will be issued a $0.12 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 17.92%. The ex-dividend date is Friday, January 31st. Orchid Island Capital’s dividend payout ratio is currently 137.14%.

Analysts Set New Price Targets

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

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.