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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR - Get Free Report) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors 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 yield of 13.42%. 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. Equities research 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 %

Angel Oak Mortgage REIT stock traded down $0.01 during mid-day trading on Thursday, hitting $9.54. 141,206 shares of the stock were exchanged, compared to its average volume of 86,093. The stock has a market capitalization of $222.50 million, a price-to-earnings ratio of 4.85 and a beta of 1.43. Angel Oak Mortgage REIT has a 12 month low of $8.88 and a 12 month 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 firm's fifty day simple moving average is $10.11 and its two-hundred day simple moving average is $11.31.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.23). The firm 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%. Analysts forecast that Angel Oak Mortgage REIT will post 0.4 EPS for the current year.

Insider Activity

In other Angel Oak Mortgage REIT news, Director Jonathan Morgan sold 5,623 shares of the stock in a transaction that occurred 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 transaction, the director now owns 37,436 shares in the company, valued at approximately $448,857.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Angel Oak Mortgage REIT news, Director Jonathan Morgan sold 5,623 shares of the company's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $11.99, for a total transaction of $67,419.77. Following the transaction, the director now owns 37,436 shares in the company, valued at approximately $448,857.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brandon Filson sold 22,894 shares of Angel Oak Mortgage REIT stock in a transaction dated Thursday, September 5th. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 35,571 shares of company stock worth $403,502 in the last three months. Company insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company dropped their price objective on 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 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Angel Oak Mortgage REIT currently has an average rating of "Hold" and a consensus target price of $12.00.

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.