Angel Oak Mortgage REIT’s (AOMR) Buy Rating Reiterated at JonesTrading

JonesTrading reiterated their buy rating on shares of Angel Oak Mortgage REIT (NYSE:AOMR) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $10.50 price target on the stock.

Other analysts have also recently issued research reports about the stock. UBS Group dropped their price objective on shares of Angel Oak Mortgage REIT from $10.00 to $9.75 and set a “neutral” rating on the stock in a report on Tuesday, November 18th. Wall Street Zen lowered shares of Angel Oak Mortgage REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Angel Oak Mortgage REIT in a research report on Monday, December 29th. Finally, Zacks Research raised Angel Oak Mortgage REIT from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.06.

Angel Oak Mortgage REIT Trading Up 0.1%

Shares of NYSE AOMR opened at $8.59 on Thursday. Angel Oak Mortgage REIT has a 12-month low of $7.36 and a 12-month high of $10.34. The company has a market cap of $213.88 million, a price-to-earnings ratio of 4.74 and a beta of 1.36. The company has a current ratio of 6.83, a quick ratio of 6.83 and a debt-to-equity ratio of 6.87. The stock’s 50 day simple moving average is $8.85 and its 200 day simple moving average is $9.11.

Angel Oak Mortgage REIT (NYSE:AOMR) last issued its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The firm had revenue of $16.70 million for the quarter, compared to analyst estimates of $11.33 million. Angel Oak Mortgage REIT had a return on equity of 5.22% and a net margin of 30.65%. Equities research analysts expect that Angel Oak Mortgage REIT will post 0.03 EPS for the current year.

Angel Oak Mortgage REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 20th were issued a $0.32 dividend. The ex-dividend date was Friday, February 20th. This represents a $1.28 annualized dividend and a dividend yield of 14.9%. Angel Oak Mortgage REIT’s dividend payout ratio (DPR) is 70.72%.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

A number of institutional investors have recently added to or reduced their stakes in AOMR. Invesco Ltd. increased its position in shares of Angel Oak Mortgage REIT by 20.1% during the 4th quarter. Invesco Ltd. now owns 35,816 shares of the company’s stock valued at $308,000 after purchasing an additional 5,994 shares during the period. EP Wealth Advisors LLC bought a new position in Angel Oak Mortgage REIT during the fourth quarter valued at about $154,000. State of Wisconsin Investment Board boosted its stake in Angel Oak Mortgage REIT by 22.3% during the fourth quarter. State of Wisconsin Investment Board now owns 87,884 shares of the company’s stock valued at $757,000 after buying an additional 16,000 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in Angel Oak Mortgage REIT during the fourth quarter worth about $26,000. Finally, Jacobs Asset Management LLC grew its stake in shares of Angel Oak Mortgage REIT by 43.8% in the 4th quarter. Jacobs Asset Management LLC now owns 287,500 shares of the company’s stock worth $2,475,000 after purchasing an additional 87,500 shares during the last quarter. 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.