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 $12.00 to $11.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

AOMR has been the subject of a number of other research reports. Janney Montgomery Scott assumed coverage on shares of Angel Oak Mortgage REIT in a research note on Thursday, January 2nd. They issued a “buy” rating and a $13.00 price target for the company. B. Riley raised shares of Angel Oak Mortgage REIT to a “hold” rating in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

Angel Oak Mortgage REIT Stock Performance

Shares of AOMR opened at $9.85 on Wednesday. Angel Oak Mortgage REIT has a 12-month low of $8.88 and a 12-month high of $13.32. The company has a current ratio of 5.76, a quick ratio of 5.76 and a debt-to-equity ratio of 5.29. The company has a market cap of $231.47 million, a PE ratio of 3.35 and a beta of 1.48. The stock has a 50-day moving average price of $9.98 and a 200-day moving average price of $10.00.

Angel Oak Mortgage REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 21st were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 13.00%. The ex-dividend date was Friday, February 21st. Angel Oak Mortgage REIT’s payout ratio is currently 43.54%.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

A number of hedge funds have recently made changes to their positions in AOMR. Allspring Global Investments Holdings LLC purchased a new stake in Angel Oak Mortgage REIT during the third quarter valued at about $40,000. Wolverine Asset Management LLC purchased a new stake in Angel Oak Mortgage REIT during the 3rd quarter valued at about $616,000. Jacobs Levy Equity Management Inc. bought a new position in Angel Oak Mortgage REIT during the 3rd quarter worth approximately $1,515,000. Jacobs Asset Management LLC purchased a new position in Angel Oak Mortgage REIT in the 3rd quarter worth approximately $975,000. Finally, State Street Corp lifted its position in Angel Oak Mortgage REIT by 3.4% in the third quarter. State Street Corp now owns 333,989 shares of the company’s stock valued at $3,484,000 after purchasing an additional 10,909 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors.

About Angel Oak Mortgage REIT

Angel Oak Mortgage REIT, Inc, a real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market. It offers investment securities; residential mortgage loans; and commercial mortgage loans.