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

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

Angel Oak Mortgage REIT has a dividend payout ratio of 95.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 Stock Performance

Shares of NYSE:AOMR traded up $0.50 during trading on Thursday, hitting $9.54. 288,426 shares of the stock were exchanged, compared to its average volume of 85,837. Angel Oak Mortgage REIT has a 1-year low of $8.55 and a 1-year high of $13.31. The company has a market capitalization of $222.50 million, a price-to-earnings ratio of 4.82 and a beta of 1.43. The company’s fifty day simple moving average is $10.11 and its 200-day simple moving average is $11.31. The company has a debt-to-equity ratio of 5.36, a quick ratio of 16.23 and a current ratio of 16.23.

Angel Oak Mortgage REIT (NYSE:AOMR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.23). The company had revenue of $25.90 million during the quarter, compared to analyst estimates of $25.50 million. Angel Oak Mortgage REIT had a net margin of 49.69% and a negative return on equity of 6.67%. Sell-side analysts expect that Angel Oak Mortgage REIT will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jonathan Morgan sold 4,377 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $12.17, for a total transaction of $53,268.09. Following the transaction, the director now owns 33,059 shares of the company’s stock, valued at $402,328.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Brandon Filson sold 22,894 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $11.02, for a total transaction of $252,291.88. Following the transaction, the chief financial officer now owns 75,818 shares of the company’s stock, valued at $835,514.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan Morgan sold 4,377 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $12.17, for a total value of $53,268.09. Following the transaction, the director now directly owns 33,059 shares in the company, valued at $402,328.03. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,571 shares of company stock valued at $403,502. 2.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, BTIG Research began coverage on Angel Oak Mortgage REIT in a research note on Wednesday, July 31st. They issued a “buy” rating and a $13.50 price target on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Angel Oak Mortgage REIT Company Profile

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.