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

Key Points

• Angel Oak Mortgage REIT declared a quarterly dividend of $0.32 per share, payable November 30 to shareholders of record November 23. The annualized dividend is $1.28, a reported yield of 20.4%.
• The dividend is currently covered by earnings, but the payout ratio is high at 92.1%; analysts expect a 92.8% payout ratio next year.
• The company reported quarterly EPS of $0.28, below the $0.32 consensus estimate. Analysts’ average rating is “Hold,” with a consensus price target of $9.56.

Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Monday, November 23rd will be given a dividend of $0.32 per share on Monday, November 30th. This represents a $1.28 annualized dividend and a yield of 20.4%. The ex-dividend date of this dividend is Monday, November 23rd.

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 fall. Equities analysts expect Angel Oak Mortgage REIT to earn $1.38 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 92.8%.

Angel Oak Mortgage REIT Stock Performance

Angel Oak Mortgage REIT stock traded down $0.88 during trading on Tuesday, reaching $6.28. The company had a trading volume of 387,974 shares, compared to its average volume of 118,407. The firm has a market capitalization of $145.67 million, a price-to-earnings ratio of 8.37 and a beta of 1.28. The company has a current ratio of 7.16, a quick ratio of 7.16 and a debt-to-equity ratio of 8.76. The firm's 50-day simple moving average is $7.66 and its 200 day simple moving average is $8.45. Angel Oak Mortgage REIT has a 52 week low of $6.14 and a 52 week high of $9.48.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of ($10.63) million during the quarter, compared to the consensus estimate of $11.39 million. Angel Oak Mortgage REIT had a return on equity of 7.74% and a net margin of 11.85%. Sell-side analysts forecast that Angel Oak Mortgage REIT will post 1.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JonesTrading decreased their target price on Angel Oak Mortgage REIT from $10.50 to $9.50 and set a "buy" rating on the stock in a research report on Tuesday. Weiss Ratings cut Angel Oak Mortgage REIT from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, October 8th. Wall Street Zen raised Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Wells Fargo & Company decreased their price objective on Angel Oak Mortgage REIT from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Finally, BTIG Research lowered their target price on Angel Oak Mortgage REIT from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, October 6th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Angel Oak Mortgage REIT currently has an average rating of "Hold" and a consensus price target of $9.56.

Angel Oak Mortgage REIT Company Profile

Angel Oak Mortgage REIT, Inc is a real estate investment trust focused on investing in residential mortgage assets. The company primarily targets non-qualified mortgage loans, or non-QM loans, which are residential mortgages made to creditworthy borrowers whose financial profiles may not fit traditional agency underwriting standards.

Its investment portfolio may also include residential mortgage-backed securities and other mortgage-related assets. Angel Oak Mortgage REIT seeks to generate income through interest payments and other returns from these investments, with an emphasis on loans secured by residential properties in the United States.

Angel Oak Mortgage REIT is externally managed by Angel Oak Capital Advisors, an investment management firm specializing in mortgage credit and related strategies.

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