Angel Oak Mortgage REIT (NYSE:AOMR) Shares Down 1.4% – What’s Next?

Angel Oak Mortgage REIT Inc. (NYSE:AOMR)’s share price dropped 1.4% during trading on Monday . The stock traded as low as $8.80 and last traded at $8.8150. Approximately 105,613 shares traded hands during trading, a decline of 17% from the average daily volume of 126,500 shares. The stock had previously closed at $8.94.

Analysts Set New Price Targets

AOMR has been the subject of several analyst reports. UBS Group lowered their price target on Angel Oak Mortgage REIT from $10.00 to $9.75 and set a “neutral” rating for the company in a research note on Tuesday, November 18th. Zacks Research upgraded shares of Angel Oak Mortgage REIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Angel Oak Mortgage REIT in a research report on Monday, December 8th. Finally, Wall Street Zen lowered shares of Angel Oak Mortgage REIT from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Four 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.45.

Angel Oak Mortgage REIT Stock Down 1.4%

The firm has a market capitalization of $219.58 million, a P/E ratio of 12.42 and a beta of 1.36. The company has a debt-to-equity ratio of 6.87, a quick ratio of 6.83 and a current ratio of 6.83. The stock has a 50 day moving average of $8.95 and a 200-day moving average of $9.29.

Angel Oak Mortgage REIT (NYSE:AOMR) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.26). Angel Oak Mortgage REIT had a net margin of 12.93% and a return on equity of 6.42%. The business had revenue of $28.02 million during the quarter, compared to analysts’ expectations of $10.68 million. Research analysts predict that Angel Oak Mortgage REIT Inc. will post 0.03 earnings per share for the current fiscal year.

Angel Oak Mortgage REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, November 18th. This represents a $1.28 annualized dividend and a dividend yield of 14.5%. Angel Oak Mortgage REIT’s dividend payout ratio is 180.28%.

Insider Activity at Angel Oak Mortgage REIT

In other news, CFO Brandon Filson sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $9.78, for a total value of $489,000.00. Following the completion of the sale, the chief financial officer owned 70,488 shares of the company’s stock, valued at approximately $689,372.64. This represents a 41.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

A number of hedge funds have recently modified their holdings of AOMR. Victory Capital Management Inc. raised its holdings in Angel Oak Mortgage REIT by 256.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,508,687 shares of the company’s stock worth $14,136,000 after purchasing an additional 1,085,507 shares in the last quarter. Alpine Global Management LLC purchased a new stake in Angel Oak Mortgage REIT during the 3rd quarter valued at about $1,940,000. North Ground Capital grew its position in Angel Oak Mortgage REIT by 94.4% during the 3rd quarter. North Ground Capital now owns 388,836 shares of the company’s stock valued at $3,643,000 after purchasing an additional 188,836 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in Angel Oak Mortgage REIT by 160.3% in the 2nd quarter. Wolverine Asset Management LLC now owns 224,226 shares of the company’s stock worth $2,112,000 after acquiring an additional 138,090 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Angel Oak Mortgage REIT by 427.2% in the third quarter. JPMorgan Chase & Co. now owns 145,565 shares of the company’s stock worth $1,364,000 after acquiring an additional 117,956 shares during the period. Hedge funds and other institutional investors own 80.15% of the company’s stock.

About Angel Oak Mortgage REIT

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.