Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Plans $0.32 Quarterly Dividend

Key Points

• Angel Oak Mortgage REIT Inc. has announced a quarterly dividend of $0.32 per share, with an annual yield of 14.2%, scheduled for payment on August 29th.
• The company currently has a payout ratio of 92.1%, but projections suggest it may exceed 100% next year if earnings do not increase as expected.
• Several analysts have rated the stock, giving it an average rating of "Moderate Buy" with a target price of $11.60.

Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Investors of record on Friday, August 22nd will be given a dividend of 0.32 per share on Friday, August 29th. This represents a c) annualized dividend and a yield of 14.2%. The ex-dividend date of this dividend is Friday, August 22nd.

Angel Oak Mortgage REIT has a payout ratio of 92.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Research 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 Price Performance

NYSE AOMR traded up $0.36 on Wednesday, reaching $9.02. The company's stock had a trading volume of 118,170 shares, compared to its average volume of 122,072. Angel Oak Mortgage REIT has a twelve month low of $7.36 and a twelve month high of $12.61. The company has a debt-to-equity ratio of 6.38, a quick ratio of 5.96 and a current ratio of 5.96. The stock has a market cap of $211.85 million, a PE ratio of 6.01 and a beta of 1.38. The firm's 50 day moving average is $9.33 and its two-hundred day moving average is $9.46.

Analyst Ratings Changes

AOMR has been the topic of several recent research reports. Jones Trading reaffirmed a "buy" rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a research report on Tuesday. UBS Group set a $10.50 price objective on shares of Angel Oak Mortgage REIT and gave the company a "neutral" rating in a research report on Thursday, July 10th. B. Riley reaffirmed a "buy" rating and set a $13.00 price objective (up previously from $12.00) on shares of Angel Oak Mortgage REIT in a research report on Friday, May 16th. Finally, Wall Street Zen lowered shares of Angel Oak Mortgage REIT from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.60.

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.

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