Angel Oak Mortgage REIT (NYSE:AOMR) Stock Price Up 1% – What’s Next?

Shares of Angel Oak Mortgage REIT Inc. (NYSE:AOMR) traded up 1% during trading on Friday . The company traded as high as $9.06 and last traded at $9.0260. Approximately 73,885 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 163,704 shares. The stock had previously closed at $8.94.

Analysts Set New Price Targets

A number of research analysts have recently commented on AOMR shares. Weiss Ratings downgraded shares of Angel Oak Mortgage REIT from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. BTIG Research cut their target price on shares of Angel Oak Mortgage REIT from $13.50 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Angel Oak Mortgage REIT presently has an average rating of “Hold” and a consensus price target of $10.08.

Angel Oak Mortgage REIT Stock Up 1.0%

The firm has a fifty day simple moving average of $8.57 and a 200-day simple moving average of $8.67. The firm has a market cap of $224.93 million, a price-to-earnings ratio of 14.10 and a beta of 1.25. The company has a debt-to-equity ratio of 8.44, a quick ratio of 13.09 and a current ratio of 13.09.

Angel Oak Mortgage REIT (NYSE:AOMR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). The company had revenue of ($2.20) million for the quarter, compared to the consensus estimate of $11.14 million. Angel Oak Mortgage REIT had a return on equity of 5.25% and a net margin of 10.64%. As a group, sell-side analysts expect that Angel Oak Mortgage REIT Inc. will post 1.17 EPS for the current year.

Angel Oak Mortgage REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 22nd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date was Friday, May 22nd. Angel Oak Mortgage REIT’s payout ratio is currently 200.00%.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

A number of large investors have recently made changes to their positions in AOMR. JPMorgan Chase & Co. increased its holdings in shares of Angel Oak Mortgage REIT by 427.2% during the third quarter. JPMorgan Chase & Co. now owns 145,565 shares of the company’s stock worth $1,364,000 after purchasing an additional 117,956 shares during the period. Alpine Global Management LLC bought a new stake in shares of Angel Oak Mortgage REIT in the third quarter valued at approximately $1,940,000. Riverbridge Partners LLC boosted its stake in shares of Angel Oak Mortgage REIT by 120.3% in the fourth quarter. Riverbridge Partners LLC now owns 182,770 shares of the company’s stock valued at $1,574,000 after buying an additional 99,811 shares during the period. Jacobs Asset Management LLC grew its position in Angel Oak Mortgage REIT by 43.8% during the fourth quarter. Jacobs Asset Management LLC now owns 287,500 shares of the company’s stock worth $2,475,000 after buying an additional 87,500 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its position in Angel Oak Mortgage REIT by 40.5% during the fourth quarter. Wolverine Asset Management LLC now owns 289,090 shares of the company’s stock worth $2,489,000 after buying an additional 83,381 shares in the last quarter. Institutional investors own 80.15% of the company’s stock.

Angel Oak Mortgage REIT Company Profile

Angel Oak Mortgage REIT, Inc (NYSE: AOMR) is a real estate investment trust that specializes in a diversified portfolio of residential mortgage assets. The company primarily invests in non-agency residential mortgage-backed securities (RMBS), residential whole loans and credit risk transfer securities issued by government-sponsored enterprises. By focusing on these structured credit instruments, Angel Oak Mortgage REIT seeks to generate attractive risk-adjusted returns through a combination of net interest income and potential capital appreciation.

The firm employs leverage through repurchase financing facilities and actively manages duration and credit exposure to adapt to changing market conditions.