Angel Oak Mortgage REIT (NYSE:AOMR) Shares Up 2.1% – Here’s Why

Angel Oak Mortgage REIT Inc. (NYSE:AOMR) rose 2.1% during mid-day trading on Wednesday . The stock traded as high as $8.40 and last traded at $8.34. Approximately 156,319 shares changed hands during mid-day trading, an increase of 45% from the average daily volume of 107,506 shares. The stock had previously closed at $8.17.

Analyst Upgrades and Downgrades

AOMR has been the subject of several analyst reports. JonesTrading reissued a “buy” rating and set a $10.50 price target on shares of Angel Oak Mortgage REIT in a research report on Thursday, February 26th. Weiss Ratings cut Angel Oak Mortgage REIT from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $10.13.

Angel Oak Mortgage REIT Price Performance

The stock has a market capitalization of $207.83 million, a PE ratio of 13.03 and a beta of 1.32. The firm’s fifty day moving average price is $8.56 and its two-hundred day moving average price is $8.70. The company has a quick ratio of 13.09, a current ratio of 13.09 and a debt-to-equity ratio of 8.44.

Angel Oak Mortgage REIT (NYSE:AOMR) last announced its earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.12). The firm had revenue of ($2.20) million during the quarter, compared to analysts’ expectations of $11.14 million. Angel Oak Mortgage REIT had a return on equity of 5.25% and a net margin of 10.64%. On average, equities analysts predict that Angel Oak Mortgage REIT Inc. will post 1.15 earnings per share for the current year.

Angel Oak Mortgage REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 22nd will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 15.3%. The ex-dividend date is Friday, May 22nd. Angel Oak Mortgage REIT’s payout ratio is 200.00%.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings in Angel Oak Mortgage REIT by 256.5% during the third quarter. Victory Capital Management Inc. now owns 1,508,687 shares of the company’s stock valued at $14,136,000 after purchasing an additional 1,085,507 shares during the period. Vanguard Group Inc. raised its stake in shares of Angel Oak Mortgage REIT by 4.2% in the third quarter. Vanguard Group Inc. now owns 874,035 shares of the company’s stock worth $8,190,000 after buying an additional 35,580 shares during the period. State Street Corp raised its stake in shares of Angel Oak Mortgage REIT by 0.4% in the fourth quarter. State Street Corp now owns 419,396 shares of the company’s stock worth $3,611,000 after buying an additional 1,716 shares during the period. Jacobs Asset Management LLC lifted its position in shares of Angel Oak Mortgage REIT by 30.4% during the 1st quarter. Jacobs Asset Management LLC now owns 375,000 shares of the company’s stock valued at $3,082,000 after buying an additional 87,500 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Angel Oak Mortgage REIT by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 326,048 shares of the company’s stock valued at $2,808,000 after acquiring an additional 12,215 shares during the period. 80.15% of the stock is currently owned by hedge funds and other institutional investors.

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.