Angel Oak Mortgage REIT’s (AOMR) “Buy” Rating Reiterated at JonesTrading

JonesTrading restated their buy rating on shares of Angel Oak Mortgage REIT (NYSE:AOMR) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $10.50 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. BTIG Research cut their target price on shares of Angel Oak Mortgage REIT from $13.50 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. Weiss Ratings cut shares of Angel Oak Mortgage REIT from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. Three equities research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $10.06.

Angel Oak Mortgage REIT Stock Down 0.2%

AOMR opened at $8.87 on Tuesday. Angel Oak Mortgage REIT has a 1 year low of $7.95 and a 1 year high of $10.14. The firm has a 50 day moving average price of $8.74 and a 200 day moving average price of $8.69. The company has a debt-to-equity ratio of 8.76, a quick ratio of 13.09 and a current ratio of 7.16. The company has a market cap of $206.05 million, a PE ratio of 11.83 and a beta of 1.25.

Angel Oak Mortgage REIT (NYSE:AOMR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Angel Oak Mortgage REIT had a net margin of 11.85% and a return on equity of 7.74%. The business had revenue of ($2.20) million for the quarter, compared to analyst estimates of $11.14 million. Sell-side analysts expect that Angel Oak Mortgage REIT will post 1.17 earnings per share for the current year.

Angel Oak Mortgage REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 21st will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.28 annualized dividend and a yield of 14.4%. Angel Oak Mortgage REIT’s dividend payout ratio (DPR) is 170.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AOMR. Strs Ohio purchased a new position in shares of Angel Oak Mortgage REIT in the first quarter valued at $25,000. Kemnay Advisory Services Inc. purchased a new stake in Angel Oak Mortgage REIT during the 4th quarter worth $26,000. Royal Bank of Canada lifted its holdings in Angel Oak Mortgage REIT by 94.0% in the 1st quarter. Royal Bank of Canada now owns 4,062 shares of the company’s stock worth $33,000 after buying an additional 1,968 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Angel Oak Mortgage REIT by 343.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,929 shares of the company’s stock worth $37,000 after buying an additional 3,042 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Angel Oak Mortgage REIT in the 4th quarter valued at about $87,000. 80.15% of the stock is owned by institutional investors and hedge funds.

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.