Angel Oak Mortgage REIT (NYSE:AOMR) Shares Down 1.4% – Here’s Why

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

Wall Street Analyst Weigh In

AOMR has been the subject of a number of research analyst reports. Zacks Research upgraded Angel Oak Mortgage REIT from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Angel Oak Mortgage REIT in a research report on Monday, December 8th. Wall Street Zen cut Angel Oak Mortgage REIT from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, 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 report on Tuesday, November 18th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.45.

Angel Oak Mortgage REIT Stock Performance

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 firm’s 50 day simple moving average is $8.95 and its 200 day simple moving average is $9.29. The firm has a market capitalization of $219.58 million, a price-to-earnings ratio of 12.42 and a beta of 1.36.

Angel Oak Mortgage REIT (NYSE:AOMR) last posted its earnings results on Thursday, November 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.26). The company had revenue of $28.02 million for the quarter, compared to analyst estimates of $10.68 million. Angel Oak Mortgage REIT had a return on equity of 6.42% and a net margin of 12.93%. Sell-side analysts forecast 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 14.5%. Angel Oak Mortgage REIT’s dividend payout ratio is presently 180.28%.

Insider Buying and Selling at Angel Oak Mortgage REIT

In other news, CFO Brandon Filson sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $9.78, for a total transaction of $489,000.00. Following the transaction, the chief financial officer directly owned 70,488 shares in the company, valued at $689,372.64. The trade was a 41.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in shares of Angel Oak Mortgage REIT in the first quarter valued at $25,000. BNP Paribas Financial Markets boosted its position 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 valued at $37,000 after buying an additional 3,042 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Angel Oak Mortgage REIT in the third quarter valued at $88,000. State of Wyoming purchased a new position in Angel Oak Mortgage REIT in the first quarter valued at $116,000. Finally, Russell Investments Group Ltd. grew its stake in Angel Oak Mortgage REIT by 249.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 14,005 shares of the company’s stock worth $132,000 after purchasing an additional 9,994 shares in the last quarter. Hedge funds and other institutional investors own 80.15% of the company’s stock.

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.