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

Angel Oak Mortgage REIT, Inc. (NYSE:AOMR) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 11.31%. The ex-dividend date of this dividend is Tuesday, May 21st.

Angel Oak Mortgage REIT has a 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 Price Performance

Angel Oak Mortgage REIT stock opened at $11.32 on Thursday. The company has a debt-to-equity ratio of 4.57, a quick ratio of 5.65 and a current ratio of 5.65. The company has a market capitalization of $282.66 million, a price-to-earnings ratio of 8.39 and a beta of 1.38. The company’s 50 day simple moving average is $10.79 and its 200-day simple moving average is $10.42. Angel Oak Mortgage REIT has a 1 year low of $7.26 and a 1 year high of $11.92.

Angel Oak Mortgage REIT (NYSE:AOMR) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.44). Angel Oak Mortgage REIT had a negative return on equity of 12.35% and a net margin of 35.14%. The firm had revenue of $24.55 million for the quarter, compared to analyst estimates of $25.19 million. As a group, equities research analysts expect that Angel Oak Mortgage REIT will post 0.91 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Angel Oak Mortgage REIT in a research report on Wednesday, March 6th. B. Riley restated a “neutral” rating and issued a $12.00 price objective on shares of Angel Oak Mortgage REIT in a report on Tuesday, March 26th. Finally, Wells Fargo & Company increased their target price on shares of Angel Oak Mortgage REIT from $9.00 to $10.00 and gave the stock 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.