Angel Oak Mortgage REIT (NYSE:AOMR) Stock: Insider Landon Parsons Acquires 7,400 Shares

Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Director Landon Parsons purchased 7,400 shares of the stock in a transaction dated Thursday, November 5th. The shares were purchased at an average cost of $6.28 per share, for a total transaction of $46,472.00. Following the completion of the acquisition, the director directly owned 57,232 shares in the company, valued at approximately $359,416.96. This trade represents a 14.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Angel Oak Mortgage REIT Stock Down 3.6%

Angel Oak Mortgage REIT stock opened at $5.95 on Friday. Angel Oak Mortgage REIT Inc. has a fifty-two week low of $5.94 and a fifty-two week high of $9.30. The company has a debt-to-equity ratio of 8.76, a quick ratio of 7.16 and a current ratio of 7.16. The company has a market cap of $138.07 million, a PE ratio of -13.83 and a beta of 1.30. The business’s 50-day simple moving average is $7.49 and its two-hundred day simple moving average is $8.39.

Angel Oak Mortgage REIT (NYSE:AOMR) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $11.39 million. Angel Oak Mortgage REIT had a return on equity of 7.74% and a net margin of 11.85%. Equities analysts anticipate that Angel Oak Mortgage REIT Inc. will post 1.14 EPS for the current year.

Angel Oak Mortgage REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, November 23rd. This represents a $1.28 annualized dividend and a yield of 21.5%. Angel Oak Mortgage REIT’s dividend payout ratio (DPR) is presently -297.67%.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

A number of large investors have recently modified their holdings of AOMR. BlackRock Inc. acquired a new stake in Angel Oak Mortgage REIT in the 2nd quarter valued at about $12,210,000. North Ground Capital acquired a new position in Angel Oak Mortgage REIT during the 2nd quarter valued at about $1,492,471. Jacobs Asset Management LLC grew its holdings in shares of Angel Oak Mortgage REIT by 30.4% in the 1st quarter. Jacobs Asset Management LLC now owns 375,000 shares of the company’s stock valued at $3,082,000 after acquiring an additional 87,500 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Angel Oak Mortgage REIT by 6.6% during the 1st quarter. Renaissance Technologies LLC now owns 31,223 shares of the company’s stock worth $257,000 after purchasing an additional 1,923 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Angel Oak Mortgage REIT in the 2nd quarter valued at $213,000. Hedge funds and other institutional investors own 80.15% of the company’s stock.

Analyst Ratings Changes

AOMR has been the subject of a number of research reports. Wells Fargo & Company lowered their price objective on shares of Angel Oak Mortgage REIT from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Thursday. Wall Street Zen upgraded Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings cut Angel Oak Mortgage REIT from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. BTIG Research cut their price target on shares of Angel Oak Mortgage REIT from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Finally, JonesTrading dropped 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 note on Tuesday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

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.