Wells Fargo & Company Issues Pessimistic Forecast for Angel Oak Mortgage REIT (NYSE:AOMR) Stock Price

Angel Oak Mortgage REIT (NYSE:AOMR) had its price objective cut by Wells Fargo & Company from $10.00 to $8.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 24.28% from the stock’s current price.

Several other research analysts have also issued reports on AOMR. 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 downgraded Angel Oak Mortgage REIT from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. JonesTrading reduced 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. B. Riley Financial decreased their target price on Angel Oak Mortgage REIT from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, BTIG Research lowered their target price on shares of Angel Oak Mortgage REIT from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.25.

Angel Oak Mortgage REIT Stock Performance

Angel Oak Mortgage REIT stock opened at $6.44 on Thursday. The company’s 50-day moving average price is $7.58 and its 200-day moving average price is $8.42. The company has a quick ratio of 7.16, a current ratio of 7.16 and a debt-to-equity ratio of 8.76. Angel Oak Mortgage REIT has a twelve month low of $6.14 and a twelve month high of $9.48. The company has a market cap of $149.47 million, a PE ratio of -15.17 and a beta of 1.30.

Angel Oak Mortgage REIT (NYSE:AOMR) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.28 earnings per share (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 negative net margin of 5.74% and a positive return on equity of 10.12%. On average, equities research analysts forecast 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 W D. Minami acquired 6,800 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average cost of $8.10 per share, for a total transaction of $55,080.00. Following the completion of the purchase, the director owned 87,118 shares in the company, valued at approximately $705,655.80. This trade represents a 8.47% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brandon Filson sold 65,000 shares of Angel Oak Mortgage REIT stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $7.93, for a total transaction of $515,450.00. Following the transaction, the chief financial officer directly owned 107,815 shares in the company, valued at approximately $854,972.95. The trade was a 37.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Angel Oak Mortgage REIT during the second quarter worth $12,210,000. Jacobs Asset Management LLC boosted its position in Angel Oak Mortgage REIT by 30.4% during 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. North Ground Capital purchased a new position in shares of Angel Oak Mortgage REIT in the 2nd quarter valued at $1,492,471. Bank of New York Mellon Corp purchased a new position in shares of Angel Oak Mortgage REIT in the 2nd quarter valued at $485,000. Finally, Odyssean LLC increased its holdings in shares of Angel Oak Mortgage REIT by 317.6% in the 2nd quarter. Odyssean LLC now owns 41,791 shares of the company’s stock valued at $379,000 after acquiring an additional 31,783 shares during the period. Institutional investors 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.