Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Stock Has Average Target Price of $9.81 According to Brokerages

Angel Oak Mortgage REIT Inc. (NYSE:AOMR) has been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.81.

Several research analysts have issued reports on AOMR shares. Wall Street Zen upgraded Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. JonesTrading reiterated a “buy” rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a report on Tuesday, August 4th. Weiss Ratings cut shares of Angel Oak Mortgage REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. BTIG Research cut their target price on 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. Finally, Wells Fargo & Company dropped their price objective on Angel Oak Mortgage REIT from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th.

Insider Activity at Angel Oak Mortgage REIT

In related news, Director W D. Minami purchased 6,800 shares of Angel Oak Mortgage REIT stock in a transaction that occurred on Thursday, September 10th. The stock was bought at an average price of $8.10 per share, for a total transaction of $55,080.00. Following the completion of the transaction, the director owned 87,118 shares in the company, valued at $705,655.80. This represents a 8.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brandon Filson sold 65,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $7.93, for a total transaction of $515,450.00. Following the transaction, the chief financial officer directly owned 107,815 shares of the company’s stock, valued at $854,972.95. This represents a 37.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of Angel Oak Mortgage REIT

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Angel Oak Mortgage REIT in the 2nd quarter worth about $12,210,000. North Ground Capital purchased a new position in Angel Oak Mortgage REIT in the 2nd quarter valued at approximately $1,492,471. Jacobs Asset Management LLC lifted its position 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 acquiring an additional 87,500 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Angel Oak Mortgage REIT in the second quarter valued at $485,000. Finally, Odyssean LLC raised its stake in shares of Angel Oak Mortgage REIT by 317.6% during the 2nd quarter. Odyssean LLC now owns 41,791 shares of the company’s stock valued at $379,000 after purchasing an additional 31,783 shares during the period. 80.15% of the stock is currently owned by institutional investors.

Angel Oak Mortgage REIT Trading Up 0.1%

NYSE:AOMR opened at $7.38 on Tuesday. Angel Oak Mortgage REIT has a 12 month low of $6.96 and a 12 month high of $9.48. The company has a current ratio of 7.16, a quick ratio of 7.16 and a debt-to-equity ratio of 8.76. The stock has a market capitalization of $171.29 million, a price-to-earnings ratio of 9.84 and a beta of 1.28. The firm has a fifty day simple moving average of $7.81 and a two-hundred day simple moving average of $8.49.

Angel Oak Mortgage REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 21st were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 21st. This represents a $1.28 annualized dividend and a dividend yield of 17.4%. Angel Oak Mortgage REIT’s dividend payout ratio is currently 170.67%.

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.