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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Investors of record on Thursday, August 22nd will be given a dividend of 0.32 per share on Friday, August 30th. This represents a $1.28 annualized dividend and a yield of 10.19%. The ex-dividend date of this dividend is Thursday, August 22nd.

Angel Oak Mortgage REIT has a payout ratio of 97.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Angel Oak Mortgage REIT to earn $1.20 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 106.7%.

Angel Oak Mortgage REIT Price Performance

NYSE:AOMR traded up $0.25 during trading hours on Wednesday, hitting $12.56. 1,598 shares of the stock traded hands, compared to its average volume of 64,795. The stock has a 50 day moving average price of $12.24 and a 200 day moving average price of $11.40. The company has a quick ratio of 5.69, a current ratio of 5.69 and a debt-to-equity ratio of 4.35. The company has a market cap of $313.99 million, a price-to-earnings ratio of 6.83 and a beta of 1.44. Angel Oak Mortgage REIT has a 1 year low of $7.60 and a 1 year high of $13.31.

Angel Oak Mortgage REIT (NYSE:AOMR) last released its earnings results on Tuesday, May 7th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.08). Angel Oak Mortgage REIT had a negative return on equity of 7.29% and a net margin of 47.28%. The company had revenue of $25.21 million during the quarter, compared to analysts’ expectations of $26.60 million. Sell-side analysts forecast that Angel Oak Mortgage REIT will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AOMR has been the subject of several research reports. UBS Group increased their price objective on shares of Angel Oak Mortgage REIT from $10.00 to $10.50 and gave the company a “neutral” rating in a report on Tuesday, May 14th. BTIG Research assumed coverage on Angel Oak Mortgage REIT in a research note on Wednesday, July 31st. They set a “buy” rating and a $13.50 price target for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.50.

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.