Wells Fargo & Company Cuts Angel Oak Mortgage REIT (NYSE:AOMR) Price Target to $10.00

Angel Oak Mortgage REIT (NYSE:AOMR) had its target price trimmed by Wells Fargo & Company from $11.00 to $10.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on AOMR. Weiss Ratings downgraded Angel Oak Mortgage REIT from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. BTIG Research dropped their price objective on 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. Finally, JonesTrading reaffirmed a “buy” rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.06.

Angel Oak Mortgage REIT Trading Up 1.6%

NYSE:AOMR opened at $9.02 on Wednesday. The company has a debt-to-equity ratio of 8.76, a current ratio of 7.16 and a quick ratio of 13.09. Angel Oak Mortgage REIT has a one year low of $7.95 and a one year high of $10.14. The company has a market cap of $209.44 million, a PE ratio of 12.03 and a beta of 1.25. The firm has a 50-day moving average of $8.76 and a 200-day moving average of $8.69.

Angel Oak Mortgage REIT (NYSE:AOMR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.12). The business had revenue of ($2.20) million during the quarter, compared to the consensus estimate of $11.14 million. Angel Oak Mortgage REIT had a net margin of 11.85% and a return on equity of 7.74%. As a group, equities research analysts expect that Angel Oak Mortgage REIT will post 1.17 EPS for the current fiscal year.

Angel Oak Mortgage REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 21st will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 14.2%. The ex-dividend date of this dividend is Friday, August 21st. Angel Oak Mortgage REIT’s dividend payout ratio is 170.67%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Angel Oak Mortgage REIT during the second quarter valued at $12,210,000. Vanguard Group Inc. increased its stake in Angel Oak Mortgage REIT by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 874,035 shares of the company’s stock worth $8,190,000 after acquiring an additional 35,580 shares during the last quarter. State Street Corp raised its holdings in shares of Angel Oak Mortgage REIT by 0.4% in the 4th quarter. State Street Corp now owns 419,396 shares of the company’s stock valued at $3,611,000 after acquiring an additional 1,716 shares in the last quarter. Jacobs Asset Management LLC boosted 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 acquiring an additional 87,500 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position 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 last quarter. 80.15% of the stock is 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.