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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Wednesday, May 22nd will be given a dividend of 0.32 per share on Friday, May 31st. This represents a $1.28 annualized dividend and a dividend yield of 11.31%. The ex-dividend date 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 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 Stock Performance

NYSE AOMR opened at $11.32 on Thursday. Angel Oak Mortgage REIT has a 52-week low of $7.26 and a 52-week high of $11.92. The company has a fifty day moving average of $10.79 and a 200-day moving average of $10.42. The company has a market capitalization of $282.66 million, a P/E ratio of 8.39 and a beta of 1.38. The company has a debt-to-equity ratio of 4.57, a quick ratio of 5.65 and a current ratio of 5.65.

Angel Oak Mortgage REIT (NYSE:AOMR) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts predict that Angel Oak Mortgage REIT will post 0.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AOMR has been the subject of a number of recent analyst reports. B. Riley reiterated a “neutral” rating and set a $12.00 price target on shares of Angel Oak Mortgage REIT in a report on Tuesday, March 26th. Oppenheimer restated a “market perform” rating on shares of Angel Oak Mortgage REIT in a report on Wednesday, March 6th. Finally, Wells Fargo & Company lifted their target price on shares of Angel Oak Mortgage REIT from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Thursday, March 7th.

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.