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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Wednesday, May 22nd will be paid a dividend of 0.32 per share on Friday, May 31st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 11.30%. The ex-dividend date of this dividend is Tuesday, May 21st.

Angel Oak Mortgage REIT has a dividend 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. Equities research 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 Trading Down 0.3 %

AOMR stock traded down $0.03 during trading on Wednesday, hitting $11.33. The company had a trading volume of 11,643 shares, compared to its average volume of 42,445. The firm has a 50-day moving average price of $10.77 and a 200-day moving average price of $10.42. Angel Oak Mortgage REIT has a 12 month low of $7.26 and a 12 month high of $11.92. The company has a quick ratio of 5.65, a current ratio of 5.65 and a debt-to-equity ratio of 4.57. The stock has a market cap of $282.91 million, a price-to-earnings ratio of 8.41 and a beta of 1.38.

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 analysts’ consensus estimates of $0.16 by ($0.44). The firm had revenue of $24.55 million for the quarter, compared to the consensus estimate of $25.19 million. Angel Oak Mortgage REIT had a negative return on equity of 12.35% and a net margin of 35.14%. As a group, analysts predict that Angel Oak Mortgage REIT will post 0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AOMR. B. Riley reaffirmed a “neutral” rating and set a $12.00 price target on shares of Angel Oak Mortgage REIT in a research report on Tuesday, March 26th. Oppenheimer reaffirmed a “market perform” rating on shares of Angel Oak Mortgage REIT in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company increased their price objective on shares of Angel Oak Mortgage REIT from $9.00 to $10.00 and gave the stock an “overweight” rating in a research 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.