Angel Oak Mortgage REIT (NYSE:AOMR) Stock Bumped Down to “Strong Sell” by Zacks Research

Zacks Research downgraded shares of Angel Oak Mortgage REIT (NYSE:AOMR) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks reports.

AOMR has been the topic of a number of other reports. Weiss Ratings lowered Angel Oak Mortgage REIT from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, November 3rd. JonesTrading dropped 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. B. Riley Financial dropped their price objective on shares of Angel Oak Mortgage REIT from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. Wells Fargo & Company cut their price objective on shares of Angel Oak Mortgage REIT from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Thursday, November 5th. Finally, BTIG Research decreased their target price on shares of Angel Oak Mortgage REIT from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.25.

Angel Oak Mortgage REIT Stock Down 0.6%

AOMR stock opened at $6.20 on Monday. The company has a 50 day moving average price of $7.40 and a two-hundred day moving average price of $8.36. The company has a debt-to-equity ratio of 10.53, a quick ratio of 10.21 and a current ratio of 10.21. The stock has a market capitalization of $145.17 million, a P/E ratio of -14.43 and a beta of 1.30. Angel Oak Mortgage REIT has a one year low of $5.94 and a one year high of $9.30.

Angel Oak Mortgage REIT (NYSE:AOMR) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share 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 business had revenue of ($10.63) million for the quarter, compared to analysts’ expectations of $11.39 million. As a group, sell-side analysts expect that Angel Oak Mortgage REIT will post 1.14 EPS for the current year.

Angel Oak Mortgage REIT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 20.6%. The ex-dividend date of this dividend is Monday, November 23rd. Angel Oak Mortgage REIT’s payout ratio is -297.67%.

Insider Transactions at Angel Oak Mortgage REIT

In other news, Director W. Minami acquired 6,800 shares of Angel Oak Mortgage REIT stock in a transaction dated 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 purchase, the director directly owned 87,118 shares of the company’s stock, valued at approximately $705,655.80. This trade represents a 8.47% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Landon Parsons bought 7,400 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were acquired at an average cost of $6.28 per share, with a total value of $46,472.00. Following the transaction, the director owned 57,232 shares in the company, valued at approximately $359,416.96. This represents a 14.85% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 52,926 shares of company stock valued at $391,997. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Several hedge funds and other institutional investors have recently made changes to their positions in AOMR. BlackRock Inc. acquired a new stake in Angel Oak Mortgage REIT in the 2nd quarter valued at $12,210,000. Jacobs Asset Management LLC lifted its stake in shares of Angel Oak Mortgage REIT by 30.4% during the first 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 boosted its position in shares of Angel Oak Mortgage REIT by 9.4% in the third 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 period. North Ground Capital purchased a new stake in shares of Angel Oak Mortgage REIT in the second quarter worth about $1,492,471. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Angel Oak Mortgage REIT in the second quarter worth about $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.