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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) declared a quarterly dividend on Wednesday, November 6th, Zacks reports. Investors 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 annualized dividend and a yield of 13.32%. The ex-dividend date is Tuesday, November 19th.

Angel Oak Mortgage REIT has a 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 fall. 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 Up 0.6 %

NYSE:AOMR traded up $0.06 on Thursday, reaching $9.61. 7,915 shares of the company’s stock were exchanged, compared to its average volume of 85,476. The firm has a market capitalization of $224.13 million, a price-to-earnings 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. The company has a quick ratio of 16.23, a current ratio of 16.23 and a debt-to-equity ratio of 5.36. The business has a fifty day moving average of $10.11 and a 200-day moving average of $11.31.

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 analysts’ expectations of $25.50 million. Angel Oak Mortgage REIT had a negative return on equity of 6.67% and a net margin of 49.69%. As a group, analysts expect that Angel Oak Mortgage REIT will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Brandon Filson sold 22,894 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 75,818 shares in the company, valued at $835,514.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jonathan Morgan sold 4,377 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 33,059 shares in the company, valued at $402,328.03. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brandon Filson sold 22,894 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $11.02, for a total value of $252,291.88. Following the sale, the chief financial officer now owns 75,818 shares of the company’s stock, valued at approximately $835,514.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,571 shares of company stock valued at $403,502 in the last ninety days. Insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

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

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.