Owens Realty Mortgage (NYSEAMERICAN:ORM) announced that its Board of Directors has authorized a stock repurchase program, which allows the company to repurchase $10.00 million in outstanding shares on Tuesday, March 13th, EventVestor reports. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Separately, TheStreet cut shares of Owens Realty Mortgage from a “b” rating to a “c+” rating in a research report on Monday, December 4th.
Shares of Owens Realty Mortgage (NYSEAMERICAN:ORM) traded down $0.12 on Wednesday, reaching $14.04. 2,012 shares of the company traded hands, compared to its average volume of 28,522. Owens Realty Mortgage has a 12 month low of $13.71 and a 12 month high of $18.72. The company has a market capitalization of $142.29, a PE ratio of 12.21 and a beta of -0.44.
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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