Angel Oak Mortgage REIT (NYSE:AOMR) Announces Earnings Results, Misses Estimates By $0.26 EPS

Angel Oak Mortgage REIT (NYSE:AOMR) released its quarterly earnings results on Thursday. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.26), FiscalAI reports. Angel Oak Mortgage REIT had a return on equity of 4.78% and a net margin of 29.42%.The business had revenue of $28.02 million for the quarter, compared to the consensus estimate of $10.68 million.

Angel Oak Mortgage REIT Trading Down 0.9%

NYSE:AOMR traded down $0.08 during mid-day trading on Thursday, hitting $9.07. 107,891 shares of the company’s stock were exchanged, compared to its average volume of 89,674. The company has a 50 day simple moving average of $9.46 and a 200-day simple moving average of $9.43. The company has a current ratio of 17.69, a quick ratio of 17.69 and a debt-to-equity ratio of 7.53. Angel Oak Mortgage REIT has a fifty-two week low of $7.36 and a fifty-two week high of $10.88. The firm has a market capitalization of $215.41 million, a P/E ratio of 5.89 and a beta of 1.36.

Angel Oak Mortgage REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th will be given a dividend of $0.32 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.28 annualized dividend and a yield of 14.1%. Angel Oak Mortgage REIT’s dividend payout ratio (DPR) is currently 83.12%.

Insider Activity at Angel Oak Mortgage REIT

In other Angel Oak Mortgage REIT news, CFO Brandon Filson sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $9.78, for a total transaction of $489,000.00. Following the completion of the transaction, the chief financial officer owned 70,488 shares in the company, valued at approximately $689,372.64. This trade represents a 41.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Davidson Kempner Capital Manag sold 595,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $9.75, for a total transaction of $5,801,250.00. Following the transaction, the insider owned 4,134,210 shares of the company’s stock, valued at approximately $40,308,547.50. The trade was a 12.58% decrease in their position. The SEC filing for this sale provides additional information. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Angel Oak Mortgage REIT during the 1st quarter worth approximately $25,000. BNP Paribas Financial Markets raised its holdings in Angel Oak Mortgage REIT by 343.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,929 shares of the company’s stock worth $37,000 after purchasing an additional 3,042 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Angel Oak Mortgage REIT by 249.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,005 shares of the company’s stock worth $132,000 after purchasing an additional 9,994 shares during the last quarter. Invesco Ltd. raised its holdings in Angel Oak Mortgage REIT by 32.6% during the 2nd quarter. Invesco Ltd. now owns 23,225 shares of the company’s stock worth $219,000 after purchasing an additional 5,711 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Angel Oak Mortgage REIT by 253.0% during the 2nd quarter. Bank of America Corp DE now owns 24,516 shares of the company’s stock worth $231,000 after purchasing an additional 17,571 shares during the last quarter. Institutional investors own 80.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AOMR shares. Zacks Research raised shares of Angel Oak Mortgage REIT from a “strong sell” rating to a “hold” rating in a report on Tuesday. UBS Group set a $10.50 target price on shares of Angel Oak Mortgage REIT and gave the company a “neutral” rating in a report on Thursday, July 10th. Jones Trading reissued a “buy” rating and issued a $10.50 target price on shares of Angel Oak Mortgage REIT in a report on Tuesday, August 5th. Wall Street Zen raised shares of Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Angel Oak Mortgage REIT in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Angel Oak Mortgage REIT currently has an average rating of “Moderate Buy” and a consensus price target of $11.60.

Angel Oak Mortgage REIT Company Profile

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.