Angel Oak Mortgage REIT, Inc. (AOMR) To Go Ex-Dividend on May 21st

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders 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 yield of 11.16%. 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. 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 Stock Up 1.1 %

Shares of AOMR stock traded up $0.12 during trading hours on Thursday, reaching $11.47. 8,939 shares of the company’s stock were exchanged, compared to its average volume of 42,127. Angel Oak Mortgage REIT has a 1 year low of $7.26 and a 1 year high of $11.92. The company has a current ratio of 5.65, a quick ratio of 5.65 and a debt-to-equity ratio of 4.57. The stock has a market cap of $286.41 million, a PE ratio of 8.39 and a beta of 1.38. The stock’s fifty day moving average price is $10.79 and its two-hundred day moving average price is $10.42.

Angel Oak Mortgage REIT (NYSE:AOMR) last released its earnings results on Tuesday, March 5th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $24.55 million for the quarter, compared to analysts’ expectations of $25.19 million. Research analysts predict that Angel Oak Mortgage REIT will post 0.91 EPS for the current year.

Analysts Set New Price Targets

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

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.