Owens Realty Mortgage Inc (ORM) Plans Quarterly Dividend of $0.16
Owens Realty Mortgage Inc (NYSEAMERICAN:ORM) declared a quarterly dividend on Wednesday, March 14th, Wall Street Journal reports. Shareholders of record on Saturday, March 31st will be given a dividend of 0.16 per share by the financial services provider on Friday, April 13th. This represents a $0.64 annualized dividend and a yield of 4.42%. The ex-dividend date is Wednesday, March 28th. This is a positive change from Owens Realty Mortgage’s previous quarterly dividend of $0.10.
Owens Realty Mortgage (ORM) traded up $0.33 during midday trading on Wednesday, reaching $14.49. The company’s stock had a trading volume of 53,978 shares, compared to its average volume of 29,577. The stock has a market cap of $142.29, a PE ratio of 12.10 and a beta of -0.44. Owens Realty Mortgage has a fifty-two week low of $13.71 and a fifty-two week high of $18.72.
Owens Realty Mortgage declared that its board has authorized a stock repurchase plan on Tuesday, March 13th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
Separately, TheStreet cut Owens Realty Mortgage from a “b” rating to a “c+” rating in a report on Monday, December 4th.
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About Owens Realty Mortgage
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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