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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 13.06%. The ex-dividend date of this dividend is Tuesday, November 19th.

Angel Oak Mortgage REIT has a dividend payout ratio of 95.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Down 0.6 %

Shares of NYSE:AOMR opened at $9.80 on Friday. The company has a market cap of $230.41 million, a price-to-earnings ratio of 3.33 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 current ratio of 5.76, a quick ratio of 5.76 and a debt-to-equity ratio of 5.29. The company has a 50-day moving average price of $9.93 and a 200 day moving average price of $11.27.

Insiders Place Their Bets

In other news, CFO Brandon Filson sold 22,894 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were 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 directly owns 75,818 shares of the company’s stock, valued at approximately $835,514.36. The trade was a 23.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan Morgan sold 4,377 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 33,059 shares in the company, valued at $402,328.03. This represents a 11.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,948 shares of company stock valued at $336,083 over the last 90 days. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AOMR. Wells Fargo & Company lowered their price objective on Angel Oak Mortgage REIT from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, November 7th. BTIG Research initiated coverage on Angel Oak Mortgage REIT in a research report on Wednesday, July 31st. They issued a “buy” rating and a $13.50 price target for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.