Angel Oak Mortgage REIT (NYSE:AOMR) Stock Gets Price Target Cut from B. Riley Financial

Angel Oak Mortgage REIT (NYSE:AOMR) had its price target trimmed by B. Riley Financial from $13.00 to $10.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Angel Oak Mortgage REIT from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. BTIG Research dropped 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 note on Tuesday, October 6th. JonesTrading cut their price objective on shares of Angel Oak Mortgage REIT from $10.50 to $9.50 and set a “buy” rating for the company in a report on Tuesday. Wall Street Zen raised shares of Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company decreased their target price on shares of Angel Oak Mortgage REIT from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Angel Oak Mortgage REIT Stock Performance

Shares of NYSE AOMR traded down $0.22 during trading hours on Wednesday, reaching $5.95. 167,307 shares of the stock were exchanged, compared to its average volume of 99,459. The firm has a market capitalization of $138.07 million, a price-to-earnings ratio of -13.83 and a beta of 1.30. The stock’s fifty day simple moving average is $7.49 and its 200 day simple moving average is $8.39. The company has a debt-to-equity ratio of 8.76, a quick ratio of 7.16 and a current ratio of 7.16. Angel Oak Mortgage REIT has a 52 week low of $5.94 and a 52 week high of $9.30.

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

Angel Oak Mortgage REIT Dividend Announcement

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

Insiders Place Their Bets

In other Angel Oak Mortgage REIT news, Director W D. Minami acquired 6,800 shares of Angel Oak Mortgage REIT stock in a transaction that occurred on Thursday, September 10th. The shares were acquired at an average cost of $8.10 per share, with a total value of $55,080.00. Following the completion of the purchase, the director directly owned 87,118 shares of the company’s stock, valued at $705,655.80. This represents a 8.47% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brandon Filson sold 65,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $7.93, for a total value of $515,450.00. Following the completion of the sale, the chief financial officer directly owned 107,815 shares in the company, valued at $854,972.95. This trade represents a 37.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 52,926 shares of company stock worth $391,997. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Angel Oak Mortgage REIT in the second quarter worth about $12,210,000. Jacobs Asset Management LLC increased 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 worth $3,082,000 after purchasing an additional 87,500 shares in the last quarter. Riverbridge Partners LLC increased its position in Angel Oak Mortgage REIT by 9.4% during the 3rd quarter. Riverbridge Partners LLC now owns 217,721 shares of the company’s stock worth $1,589,000 after purchasing an additional 18,643 shares in the last quarter. North Ground Capital acquired a new position in Angel Oak Mortgage REIT during the 2nd quarter worth approximately $1,492,471. Finally, Bank of New York Mellon Corp bought a new position in Angel Oak Mortgage REIT in the 2nd quarter valued at approximately $485,000. Institutional investors and hedge funds own 80.15% of the company’s stock.

Angel Oak Mortgage REIT Company Profile

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.