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 Thursday, February 6th,RTT News reports. Stockholders of record on Friday, February 21st will be paid a dividend of 0.32 per share on Friday, February 28th. This represents a $1.28 annualized dividend and a dividend yield of 12.25%. The ex-dividend date is Friday, February 21st.

Angel Oak Mortgage REIT has raised its dividend payment by an average of 60.4% annually over the last three years. Angel Oak Mortgage REIT has a dividend payout ratio of 92.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Angel Oak Mortgage REIT to earn $1.21 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 105.8%.

Angel Oak Mortgage REIT Trading Up 1.1 %

Angel Oak Mortgage REIT stock opened at $10.45 on Friday. The stock has a market capitalization of $245.68 million, a P/E ratio of 3.55 and a beta of 1.47. The company has a debt-to-equity ratio of 5.29, a quick ratio of 5.76 and a current ratio of 5.76. Angel Oak Mortgage REIT has a 52 week low of $8.88 and a 52 week high of $13.31. The stock has a 50-day simple moving average of $9.68 and a 200 day simple moving average of $10.27.

Analysts Set New Price Targets

Several brokerages have weighed in on AOMR. Janney Montgomery Scott assumed coverage on Angel Oak Mortgage REIT in a report on Thursday, January 2nd. They issued a “buy” rating and a $13.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Angel Oak Mortgage REIT from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, November 7th. Finally, B. Riley raised shares of Angel Oak Mortgage REIT to a “hold” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Angel Oak Mortgage REIT currently has a consensus rating of “Moderate Buy” and an average target price of $12.20.

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.