JonesTrading Reaffirms Buy Rating for Angel Oak Mortgage REIT (NYSE:AOMR)

Angel Oak Mortgage REIT (NYSE:AOMR)‘s stock had its “buy” rating reissued by research analysts at JonesTrading in a report released on Tuesday,Benzinga reports. They presently have a $10.50 target price on the stock. JonesTrading’s target price would suggest a potential upside of 16.52% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings downgraded shares of Angel Oak Mortgage REIT from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. BTIG Research dropped their price objective on shares of Angel Oak Mortgage REIT from $13.50 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, June 17th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Angel Oak Mortgage REIT currently has a consensus rating of “Hold” and an average target price of $10.08.

Angel Oak Mortgage REIT Stock Performance

Shares of NYSE AOMR traded up $0.23 during trading on Tuesday, reaching $9.01. The stock had a trading volume of 85,847 shares, compared to its average volume of 106,520. Angel Oak Mortgage REIT has a one year low of $7.95 and a one year high of $10.14. The company has a debt-to-equity ratio of 8.44, a quick ratio of 13.09 and a current ratio of 13.09. The stock has a market cap of $224.55 million, a PE ratio of 14.09 and a beta of 1.25. The firm’s 50 day moving average price is $8.70 and its two-hundred day moving average price is $8.70.

Angel Oak Mortgage REIT (NYSE:AOMR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.02. Angel Oak Mortgage REIT had a return on equity of 5.25% and a net margin of 10.64%. On average, research analysts forecast that Angel Oak Mortgage REIT will post 1.17 earnings per share for the current fiscal year.

Institutional Trading of Angel Oak Mortgage REIT

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Angel Oak Mortgage REIT by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 874,035 shares of the company’s stock valued at $8,190,000 after purchasing an additional 35,580 shares during the period. State Street Corp increased 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 valued at $3,611,000 after purchasing an additional 1,716 shares during the period. Jacobs Asset Management LLC increased its stake in shares of Angel Oak Mortgage REIT by 30.4% in the first quarter. Jacobs Asset Management LLC now owns 375,000 shares of the company’s stock valued at $3,082,000 after purchasing an additional 87,500 shares during the period. Geode Capital Management LLC raised its holdings in shares of Angel Oak Mortgage REIT by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 326,048 shares of the company’s stock valued at $2,808,000 after buying an additional 12,215 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its holdings in shares of Angel Oak Mortgage REIT by 40.5% during the fourth quarter. Wolverine Asset Management LLC now owns 289,090 shares of the company’s stock valued at $2,489,000 after buying an additional 83,381 shares during the last quarter. 80.15% of the stock is currently owned by 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.