Angel Oak Mortgage REIT (NYSE:AOMR) Coverage Initiated by Analysts at Janney Montgomery Scott

Janney Montgomery Scott assumed coverage on shares of Angel Oak Mortgage REIT (NYSE:AOMR) in a research report released on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $13.00 target price on the stock.

Separately, Wells Fargo & Company lowered their price objective on shares of Angel Oak Mortgage REIT from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Angel Oak Mortgage REIT has a consensus rating of “Moderate Buy” and an average target price of $12.20.

Angel Oak Mortgage REIT Stock Performance

Shares of AOMR opened at $9.32 on Thursday. The company has a 50-day moving average of $9.43 and a two-hundred day moving average of $10.66. The stock has a market cap of $219.12 million, a price-to-earnings ratio of 3.17 and a beta of 1.46. The company has a debt-to-equity ratio of 5.29, a current ratio of 5.76 and a quick ratio of 5.76. Angel Oak Mortgage REIT has a one year low of $8.88 and a one year high of $13.31.

Angel Oak Mortgage REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 13.73%. The ex-dividend date of this dividend was Tuesday, November 19th. Angel Oak Mortgage REIT’s dividend payout ratio is currently 43.54%.

Insider Activity at Angel Oak Mortgage REIT

In other news, Director W D. Minami acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average cost of $9.73 per share, for a total transaction of $48,650.00. Following the completion of the acquisition, the director now owns 45,259 shares in the company, valued at approximately $440,370.07. The trade was a 12.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AOMR. National Bank of Canada FI acquired a new stake in shares of Angel Oak Mortgage REIT during the 3rd quarter valued at about $26,000. Allspring Global Investments Holdings LLC acquired a new stake in Angel Oak Mortgage REIT in the third quarter valued at approximately $40,000. Public Employees Retirement System of Ohio acquired a new stake in Angel Oak Mortgage REIT in the third quarter valued at approximately $43,000. Renaissance Technologies LLC grew its position in Angel Oak Mortgage REIT by 21.2% in the second quarter. Renaissance Technologies LLC now owns 25,200 shares of the company’s stock worth $330,000 after acquiring an additional 4,400 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Angel Oak Mortgage REIT by 35.0% during the 2nd quarter. Ritholtz Wealth Management now owns 39,212 shares of the company’s stock worth $514,000 after purchasing an additional 10,171 shares during the last quarter. 80.15% of the stock is owned by institutional investors and hedge funds.

Angel Oak Mortgage REIT Company Profile

Angel Oak Mortgage REIT, Inc, a real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market. It offers investment securities; residential mortgage loans; and commercial mortgage loans.