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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) declared a quarterly dividend on Thursday, February 6th,RTT News reports. Investors 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% per year over the last three years. Angel Oak Mortgage REIT has a dividend payout ratio of 92.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research 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 Trading Down 0.0 %

AOMR stock traded down $0.01 during trading on Thursday, reaching $10.32. The company had a trading volume of 51,444 shares, compared to its average volume of 63,943. The company has a market cap of $242.51 million, a P/E ratio of 3.51 and a beta of 1.47. The company has a debt-to-equity ratio of 5.29, a current ratio of 5.76 and a quick ratio of 5.76. Angel Oak Mortgage REIT has a 52 week low of $8.88 and a 52 week high of $13.31. The business has a 50 day moving average of $9.65 and a 200 day moving average of $10.28.

Insider Activity at Angel Oak Mortgage REIT

In other news, Director W D. Minami purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $9.73 per share, for a total transaction of $48,650.00. Following the completion of the transaction, the director now owns 45,259 shares in the company, valued at $440,370.07. This represents a 12.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 2.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on AOMR. Wells Fargo & Company cut their price objective on shares of Angel Oak Mortgage REIT from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, November 7th. B. Riley upgraded shares of Angel Oak Mortgage REIT to a “hold” rating in a report on Tuesday, January 7th. Finally, Janney Montgomery Scott began coverage on shares of Angel Oak Mortgage REIT in a report on Thursday, January 2nd. They set a “buy” rating and a $13.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Angel Oak Mortgage REIT has a consensus rating of “Moderate Buy” and an average target price of $12.20.

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.