Angel Oak Mortgage REIT (NYSE:AOMR) Stock Gets Downgrade from Zacks Research

Angel Oak Mortgage REIT (NYSE:AOMR) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, Zacks reports.

A number of other equities analysts have also recently issued reports on AOMR. BTIG Research dropped 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 research note on Tuesday, October 6th. JonesTrading reduced 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 research note on Tuesday, November 3rd. Wall Street Zen upgraded shares of Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings cut shares of Angel Oak Mortgage REIT from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, November 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Angel Oak Mortgage REIT from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Thursday, November 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.25.

Angel Oak Mortgage REIT Trading Down 0.6%

Angel Oak Mortgage REIT stock opened at $6.20 on Monday. The company has a current ratio of 10.21, a quick ratio of 10.21 and a debt-to-equity ratio of 10.53. The business’s fifty day simple moving average is $7.40 and its two-hundred day simple moving average is $8.36. Angel Oak Mortgage REIT has a 12 month low of $5.94 and a 12 month high of $9.30. The company has a market capitalization of $145.17 million, a price-to-earnings ratio of -14.43 and a beta of 1.30.

Angel Oak Mortgage REIT (NYSE:AOMR) last released 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 positive return on equity of 10.57% and a negative net margin of 5.74%. The company had revenue of ($10.63) million during the quarter, compared to analysts’ expectations of $11.39 million. As a group, equities analysts predict that Angel Oak Mortgage REIT will post 1.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director W. Minami bought 6,800 shares of the stock in a transaction on Thursday, September 10th. The shares were acquired at an average price of $8.10 per share, for a total transaction of $55,080.00. Following the purchase, the director owned 87,118 shares of the company’s stock, valued at approximately $705,655.80. The trade was a 8.47% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction of $515,450.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders acquired a total of 52,926 shares of company stock worth $391,997 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Angel Oak Mortgage REIT in the 2nd quarter worth approximately $12,210,000. Jacobs Asset Management LLC lifted its holdings in shares of 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 buying an additional 87,500 shares during the period. Riverbridge Partners LLC boosted its stake in shares of Angel Oak Mortgage REIT by 9.4% in the 3rd quarter. Riverbridge Partners LLC now owns 217,721 shares of the company’s stock worth $1,589,000 after buying an additional 18,643 shares during the last quarter. North Ground Capital purchased a new position in shares of Angel Oak Mortgage REIT in the 2nd quarter worth $1,492,471. Finally, Bank of New York Mellon Corp purchased a new position in shares of Angel Oak Mortgage REIT in the 2nd quarter worth $485,000. Institutional investors 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.