Angel Oak Mortgage REIT (NYSE:AOMR) Given New $9.50 Price Target at JonesTrading

Angel Oak Mortgage REIT (NYSE:AOMR) had its price objective lowered by research analysts at JonesTrading from $10.50 to $9.50 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. JonesTrading‘s target price would indicate a potential upside of 51.39% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on AOMR. Wall Street Zen upgraded shares of Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Wells Fargo & Company lowered their price objective on Angel Oak Mortgage REIT from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Weiss Ratings cut Angel Oak Mortgage REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Finally, BTIG Research reduced their price objective on shares of 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 equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.56.

Angel Oak Mortgage REIT Price Performance

AOMR stock traded down $0.88 during trading on Tuesday, hitting $6.28. The stock had a trading volume of 319,697 shares, compared to its average volume of 117,972. The company’s 50-day moving average price is $7.66 and its two-hundred day moving average price is $8.45. Angel Oak Mortgage REIT has a twelve month low of $6.14 and a twelve month high of $9.48. The stock has a market capitalization of $145.67 million, a P/E ratio of 8.32 and a beta of 1.28. The company has a debt-to-equity ratio of 8.76, a current ratio of 7.16 and a quick ratio of 7.16.

Angel Oak Mortgage REIT (NYSE:AOMR) last issued its earnings results on Tuesday, November 3rd. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). Angel Oak Mortgage REIT had a net margin of 11.85% and a return on equity of 7.74%. The business had revenue of ($10.63) million during the quarter, compared to analyst estimates of $11.39 million. As a group, research analysts predict that Angel Oak Mortgage REIT will post 1.14 EPS for the current fiscal year.

Insider Activity at Angel Oak Mortgage REIT

In other Angel Oak Mortgage REIT news, Director Michael Fierman bought 38,726 shares of the company’s stock in a transaction on Friday, September 25th. The shares were bought at an average price of $7.50 per share, for a total transaction of $290,445.00. Following the transaction, the director owned 105,247 shares of the company’s stock, valued at approximately $789,352.50. This trade represents a 58.22% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brandon Filson sold 65,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $7.93, for a total value of $515,450.00. Following the transaction, the chief financial officer directly owned 107,815 shares of the company’s stock, valued at approximately $854,972.95. This trade represents a 37.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada raised its position in Angel Oak Mortgage REIT by 94.0% in the first quarter. Royal Bank of Canada now owns 4,062 shares of the company’s stock worth $33,000 after acquiring an additional 1,968 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Angel Oak Mortgage REIT during the second quarter worth about $58,000. Bank of America Corp DE boosted its stake in shares of Angel Oak Mortgage REIT by 23.1% during the 1st quarter. Bank of America Corp DE now owns 11,490 shares of the company’s stock worth $94,000 after acquiring an additional 2,155 shares in the last quarter. Deutsche Bank AG acquired a new stake in Angel Oak Mortgage REIT in the second quarter valued at $141,000. Finally, State of Wyoming acquired a new stake in Angel Oak Mortgage REIT in the 2nd quarter valued at about $213,000. Institutional investors and hedge funds own 80.15% of the company’s stock.

About Angel Oak Mortgage REIT

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.