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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Wednesday, May 22nd will be given a dividend of 0.32 per share on Friday, May 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.30%. The ex-dividend date is Tuesday, May 21st.

Angel Oak Mortgage REIT has a payout ratio of 104.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Angel Oak Mortgage REIT to earn $1.32 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 97.0%.

Angel Oak Mortgage REIT Trading Down 0.3 %

Shares of NYSE:AOMR traded down $0.03 during midday trading on Wednesday, reaching $11.33. The company’s stock had a trading volume of 11,643 shares, compared to its average volume of 42,445. The business has a 50 day moving average price of $10.77 and a 200 day moving average price of $10.42. The company has a quick ratio of 5.65, a current ratio of 5.65 and a debt-to-equity ratio of 4.57. Angel Oak Mortgage REIT has a 1 year low of $7.26 and a 1 year high of $11.92. The firm has a market cap of $282.91 million, a price-to-earnings ratio of 8.41 and a beta of 1.38.

Angel Oak Mortgage REIT (NYSE:AOMR) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.44). Angel Oak Mortgage REIT had a negative return on equity of 12.35% and a net margin of 35.14%. The firm had revenue of $24.55 million for the quarter, compared to analyst estimates of $25.19 million. Research analysts forecast that Angel Oak Mortgage REIT will post 0.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AOMR. B. Riley reiterated a “neutral” rating and set a $12.00 target price on shares of Angel Oak Mortgage REIT in a research note on Tuesday, March 26th. Oppenheimer restated a “market perform” rating on shares of Angel Oak Mortgage REIT in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company raised their target price on shares of Angel Oak Mortgage REIT from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th.

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.