Orchid Island Capital said on April 12, 2023 that its board of directors declared a regular monthly dividend of $0.16 per share ($1.92 annualized). Previously, the company paid $0.16 per share.
Shares must be purchased before the ex-div date of April 27, 2023 to qualify for the dividend. Shareholders of record as of April 28, 2023 will receive the payment on May 26, 2023.
At the current share price of $11.06 / share, the stock's dividend yield is 17.36%. Looking back five years and taking a sample every week, the average dividend yield has been 60.17%, the lowest has been 7.19%, and the highest has been 194.33%. The standard deviation of yields is 30.04 (n=237).
The current dividend yield is 1.42 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.29. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.42%.
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What is the Fund Sentiment?
There are 184 funds or institutions reporting positions in Orchid Island Capital.
This is an increase
of
84
owner(s) or 84.00% in the last quarter.
Average portfolio weight of all funds dedicated to ORC is 0.04%,
a decrease
of 10.39%.
Total shares owned by institutions increased
in the last three months by 223.21% to 11,285K shares.
The put/call ratio of ORC is 0.34, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 95.98% Upside
As of March 27, 2023, the average one-year price target for Orchid Island Capital is $21.68. The forecasts range from a low of $21.46 to a high of $22.31. The average price target represents an increase of 95.98% from its latest reported closing price of $11.06.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Orchid Island Capital is $60MM. The projected annual non-GAAP EPS is $1.41.
What are Other Shareholders Doing?
TSGUX - Small-Mid Cap Equity Fund holds 2K shares representing 0.01% ownership of the company. No change in the last quarter.
EQ ADVISORS TRUST - EQ holds 47K shares representing 0.12% ownership of the company. No change in the last quarter.
EQ ADVISORS TRUST - ATM Small Cap Managed Volatility Portfolio Class K holds 13K shares representing 0.03% ownership of the company. In it's prior filing, the firm reported owning 14K shares, representing a decrease of 8.56%. The firm increased its portfolio allocation in ORC by 15.43% over the last quarter.
Advisor Group Holdings holds 6K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 81K shares, representing a decrease of 1,165.49%. The firm decreased its portfolio allocation in ORC by 91.10% over the last quarter.
FLXSX - Fidelity Flex Small Cap Index Fund holds 4K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 4K shares, representing an increase of 0.18%. The firm increased its portfolio allocation in ORC by 10.23% over the last quarter.
Orchid Island Capital Background Information
(This description is provided by the company.)
Orchid Island Capital, Inc. is a specialty finance company that invests on a leveraged basis in Agency RMBS. Orchid Island Capital, Inc. has elected to be taxed as a real estate investment trust for U.S. federal income tax purposes. Our investment strategy focuses on, and our portfolio consists of, two categories of Agency RMBS: (i) traditional pass-through Agency RMBS, such as mortgage pass-through certificates and collateralized mortgage obligations issued by Fannie Mae, Freddie Mac or Ginnie Mae, and (ii) structured Agency RMBS, such as IOs, IIOs and POs, among other types of structured Agency RMBS. The Company is managed by Bimini Advisors, LLC, an investment adviser registered with the SEC.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
