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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) announced a quarterly dividend on Thursday, February 6th,RTT News reports. Shareholders of record on Friday, February 21st will be given a dividend of 0.32 per share on Friday, February 28th. This represents a $1.28 dividend on an annualized basis and a yield of 12.41%.

Angel Oak Mortgage REIT has raised its dividend by an average of 60.4% annually over the last three years. Angel Oak Mortgage REIT has a payout ratio of 92.1% meaning 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 $1.21 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 105.8%.

Angel Oak Mortgage REIT Price Performance

NYSE:AOMR traded down $0.01 during mid-day trading on Thursday, reaching $10.32. 51,444 shares of the stock were exchanged, compared to its average volume of 63,943. The business has a fifty day moving average price of $9.65 and a 200 day moving average price of $10.28. The firm has a market capitalization of $242.51 million, a PE ratio of 3.51 and a beta of 1.47. Angel Oak Mortgage REIT has a 1-year low of $8.88 and a 1-year high of $13.31. The company has a current ratio of 5.76, a quick ratio of 5.76 and a debt-to-equity ratio of 5.29.

Analyst Upgrades and Downgrades

AOMR has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price 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, November 7th. B. Riley upgraded Angel Oak Mortgage REIT to a “hold” rating in a research note on Tuesday, January 7th. Finally, Janney Montgomery Scott initiated coverage on Angel Oak Mortgage REIT in a research note on Thursday, January 2nd. They issued a “buy” rating and a $13.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.20.

Insider Buying and Selling

In related news, Director W D. Minami acquired 5,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $9.73 per share, for a total transaction of $48,650.00. Following the completion of the transaction, the director now directly owns 45,259 shares of the company’s stock, valued at approximately $440,370.07. The trade was a 12.42 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

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.