Brokerages Set Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Target Price at $10.06

Shares of Angel Oak Mortgage REIT Inc. (NYSE:AOMR) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $10.0625.

AOMR has been the topic of a number of recent research reports. Weiss Ratings raised Angel Oak Mortgage REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Wells Fargo & Company lowered their price objective on Angel Oak Mortgage REIT from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. JonesTrading reiterated a “buy” rating and set a $10.50 target price on shares of Angel Oak Mortgage REIT in a research report on Tuesday, August 4th. BTIG Research reduced 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 report on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 8th.

Angel Oak Mortgage REIT Trading Down 0.9%

Shares of AOMR stock opened at $8.90 on Thursday. The firm has a market capitalization of $206.66 million, a P/E ratio of 11.87 and a beta of 1.25. Angel Oak Mortgage REIT has a twelve month low of $7.95 and a twelve month high of $10.14. The company has a quick ratio of 7.16, a current ratio of 7.16 and a debt-to-equity ratio of 8.76. The stock’s fifty day simple moving average is $8.81 and its 200 day simple moving average is $8.69.

Angel Oak Mortgage REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.4%. The ex-dividend date is Friday, August 21st. Angel Oak Mortgage REIT’s payout ratio is 170.67%.

Institutional Trading of Angel Oak Mortgage REIT

A number of institutional investors and hedge funds have recently bought and sold shares of AOMR. JPMorgan Chase & Co. lifted its holdings in Angel Oak Mortgage REIT by 427.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,565 shares of the company’s stock worth $1,364,000 after buying an additional 117,956 shares during the period. Jacobs Asset Management LLC increased its stake in shares of Angel Oak Mortgage REIT by 43.8% in the fourth quarter. Jacobs Asset Management LLC now owns 287,500 shares of the company’s stock valued at $2,475,000 after buying an additional 87,500 shares during the period. Wolverine Asset Management LLC increased its stake in shares of Angel Oak Mortgage REIT by 40.5% in the fourth quarter. Wolverine Asset Management LLC now owns 289,090 shares of the company’s stock valued at $2,489,000 after buying an additional 83,381 shares during the period. Deutsche Bank AG bought a new position in shares of Angel Oak Mortgage REIT during the second quarter worth about $141,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Angel Oak Mortgage REIT during the second quarter worth about $485,000. 80.15% of the stock is currently 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.