Angel Oak Mortgage REIT, Inc. to Issue Quarterly Dividend of $0.32 (NYSE:AOMR)

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Shareholders of record on Tuesday, November 19th will be given a dividend of 0.32 per share on Wednesday, November 27th. This represents a $1.28 dividend on an annualized basis and a yield of 13.42%. The ex-dividend date is Tuesday, November 19th.

Angel Oak Mortgage REIT has a dividend payout ratio of 95.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Angel Oak Mortgage REIT to earn $1.27 per share next year, which means the company may not be able to cover its $1.28 annual dividend with an expected future payout ratio of 100.8%.

Angel Oak Mortgage REIT Trading Down 0.1 %

Shares of NYSE:AOMR opened at $9.54 on Friday. The company has a debt-to-equity ratio of 5.36, a quick ratio of 16.23 and a current ratio of 16.23. The stock’s 50-day moving average is $10.08 and its 200-day moving average is $11.30. The company has a market cap of $222.47 million, a P/E ratio of 4.82 and a beta of 1.43. Angel Oak Mortgage REIT has a 52-week low of $8.88 and a 52-week high of $13.31.

Angel Oak Mortgage REIT (NYSE:AOMR) last announced its earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.23). The business had revenue of $25.90 million for the quarter, compared to the consensus estimate of $25.50 million. Angel Oak Mortgage REIT had a net margin of 49.69% and a negative return on equity of 6.67%. Equities research analysts predict that Angel Oak Mortgage REIT will post 0.4 earnings per share for the current year.

Insider Transactions at Angel Oak Mortgage REIT

In related news, CFO Brandon Filson sold 22,894 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $11.02, for a total value of $252,291.88. Following the transaction, the chief financial officer now owns 75,818 shares in the company, valued at $835,514.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Angel Oak Mortgage REIT news, CFO Brandon Filson sold 22,894 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $11.02, for a total value of $252,291.88. Following the completion of the sale, the chief financial officer now owns 75,818 shares of the company’s stock, valued at approximately $835,514.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jonathan Morgan sold 5,623 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $11.99, for a total value of $67,419.77. Following the sale, the director now directly owns 37,436 shares in the company, valued at $448,857.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,571 shares of company stock worth $403,502 over the last 90 days. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on AOMR. Wells Fargo & Company lowered their price objective on shares of Angel Oak Mortgage REIT from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday. BTIG Research assumed coverage on shares of Angel Oak Mortgage REIT in a research note on Wednesday, July 31st. They set a “buy” rating and a $13.50 price target for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Angel Oak Mortgage REIT has an average rating of “Hold” and an average price target of $12.00.

About Angel Oak Mortgage REIT

Angel Oak Mortgage REIT, Inc, a real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market. It offers investment securities; residential mortgage loans; and commercial mortgage loans.