Owens Realty Mortgage (NYSEAMERICAN:ORM) declared that its board has authorized a share buyback plan, which permits the company to buyback $10.00 million in outstanding shares on Tuesday, March 13th, EventVestor reports. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
Shares of Owens Realty Mortgage (ORM) traded down $0.12 on Wednesday, hitting $14.04. 2,012 shares of the stock were exchanged, compared to its average volume of 28,522. The stock has a market capitalization of $142.29, a price-to-earnings ratio of 12.21 and a beta of -0.44. Owens Realty Mortgage has a 1 year low of $13.71 and a 1 year high of $18.72.
Separately, TheStreet cut shares of Owens Realty Mortgage from a “b” rating to a “c+” rating in a research report on Monday, December 4th.
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Owens Realty Mortgage, Inc is a specialty finance company that focuses on the origination, investment and management of commercial real estate loans, primarily in the Western United States. The Company’s segments include commercial real estate, residential real estate and land loans. The Company provides short-term loans to small and middle-market investors and developers that require speed and flexibility.
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