Insider Buying: Angel Oak Mortgage REIT (NYSE:AOMR) Director Purchases 7,400 Shares of Stock

Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Director Landon Parsons bought 7,400 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average price of $6.28 per share, with a total value of $46,472.00. Following the completion of the purchase, the director owned 57,232 shares in the company, valued at approximately $359,416.96. The trade was a 14.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Angel Oak Mortgage REIT Price Performance

Shares of Angel Oak Mortgage REIT stock traded down $0.27 during midday trading on Thursday, hitting $6.19. 132,809 shares of the company were exchanged, compared to its average volume of 119,348. The firm has a market cap of $143.69 million, a P/E ratio of -14.39 and a beta of 1.30. The company has a debt-to-equity ratio of 8.76, a current ratio of 7.16 and a quick ratio of 7.16. The firm has a 50 day simple moving average of $7.58 and a 200-day simple moving average of $8.42. Angel Oak Mortgage REIT Inc. has a 52 week low of $6.10 and a 52 week high of $9.48.

Angel Oak Mortgage REIT (NYSE:AOMR) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The business had revenue of ($10.63) million during the quarter, compared to the consensus estimate of $11.39 million. Angel Oak Mortgage REIT had a negative net margin of 5.74% and a positive return on equity of 10.12%. Research analysts forecast that Angel Oak Mortgage REIT Inc. will post 1.14 earnings per share for the current year.

Angel Oak Mortgage REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 23rd will be issued a $0.32 dividend. The ex-dividend date is Monday, November 23rd. This represents a $1.28 annualized dividend and a yield of 20.7%. Angel Oak Mortgage REIT’s dividend payout ratio (DPR) is currently 170.67%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. B. Riley Financial dropped their price objective on Angel Oak Mortgage REIT from $13.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company reduced 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. Wall Street Zen upgraded shares of Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded shares of Angel Oak Mortgage REIT from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Finally, BTIG Research cut their price objective on shares of Angel Oak Mortgage REIT from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Angel Oak Mortgage REIT presently has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AOMR. BlackRock Inc. acquired a new stake in shares of Angel Oak Mortgage REIT during the second quarter worth $12,210,000. North Ground Capital acquired a new position in Angel Oak Mortgage REIT in the second quarter valued at about $1,492,471. Jacobs Asset Management LLC lifted its stake in Angel Oak Mortgage REIT by 30.4% in the first 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. Bank of New York Mellon Corp bought a new position in Angel Oak Mortgage REIT during the second quarter worth about $485,000. Finally, Odyssean LLC boosted its holdings in Angel Oak Mortgage REIT by 317.6% during the second quarter. Odyssean LLC now owns 41,791 shares of the company’s stock worth $379,000 after buying an additional 31,783 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors.

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.

Angel Oak Mortgage REIT is externally managed by Angel Oak Capital Advisors, an investment management firm specializing in mortgage credit and related strategies.