Angel Oak Mortgage REIT (NYSE:AOMR) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Angel Oak Mortgage REIT (NYSE:AOMR) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Several other analysts have also issued reports on the stock. Weiss Ratings upgraded shares of Angel Oak Mortgage REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of Angel Oak Mortgage REIT from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday. BTIG Research reduced their price objective on shares of Angel Oak Mortgage REIT from $13.50 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, June 17th. Finally, JonesTrading reiterated a “buy” rating and issued a $10.50 price objective on shares of Angel Oak Mortgage REIT in a research note on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.06.

Angel Oak Mortgage REIT Trading Up 1.6%

NYSE AOMR opened at $9.02 on Friday. The firm has a market capitalization of $209.44 million, a P/E ratio of 12.03 and a beta of 1.25. The business has a fifty day simple moving average of $8.76 and a 200 day simple moving average of $8.69. Angel Oak Mortgage REIT has a 12 month low of $7.95 and a 12 month high of $10.14. The company has a current ratio of 7.16, a quick ratio of 13.09 and a debt-to-equity ratio of 8.76.

Angel Oak Mortgage REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 21st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.28 annualized dividend and a dividend yield of 14.2%. Angel Oak Mortgage REIT’s dividend payout ratio (DPR) is currently 170.67%.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in Angel Oak Mortgage REIT during the first quarter worth about $25,000. Kemnay Advisory Services Inc. purchased a new position in Angel Oak Mortgage REIT in the fourth quarter valued at about $26,000. BNP Paribas Financial Markets grew its position in shares of 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 valued at $37,000 after acquiring an additional 3,042 shares during the period. Royal Bank of Canada grew its position in shares of Angel Oak Mortgage REIT by 94.0% during the 1st quarter. Royal Bank of Canada now owns 4,062 shares of the company’s stock valued at $33,000 after acquiring an additional 1,968 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Angel Oak Mortgage REIT during the 3rd quarter valued at approximately $88,000. 80.15% of the stock is owned by hedge funds and other institutional investors.

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.