Angel Oak Mortgage REIT (NYSE:AOMR) Shares Up 1% – Here’s What Happened

Angel Oak Mortgage REIT Inc. (NYSE:AOMR) shares were up 1% on Friday . The company traded as high as $9.06 and last traded at $9.0260. 73,885 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 163,704 shares. The stock had previously closed at $8.94.

Wall Street Analyst Weigh In

AOMR has been the topic of a number of research analyst reports. BTIG Research lowered 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 report on Wednesday, June 17th. 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. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Angel Oak Mortgage REIT currently has an average rating of “Hold” and a consensus target price of $10.08.

Angel Oak Mortgage REIT Trading Up 1.0%

The company has a 50 day moving average of $8.57 and a 200 day moving average of $8.67. The firm has a market cap of $224.93 million, a P/E ratio of 14.10 and a beta of 1.25. The company has a debt-to-equity ratio of 8.44, a quick ratio of 13.09 and a current ratio of 13.09.

Angel Oak Mortgage REIT (NYSE:AOMR) last posted its earnings results on Tuesday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Angel Oak Mortgage REIT had a net margin of 10.64% and a return on equity of 5.25%. The business had revenue of ($2.20) million during the quarter, compared to analyst estimates of $11.14 million. Analysts predict that Angel Oak Mortgage REIT Inc. will post 1.17 EPS for the current fiscal year.

Angel Oak Mortgage REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 22nd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 14.2%. The ex-dividend date of this dividend was Friday, May 22nd. Angel Oak Mortgage REIT’s dividend payout ratio is presently 200.00%.

Institutional Trading of Angel Oak Mortgage REIT

Several large investors have recently made changes to their positions in AOMR. JPMorgan Chase & Co. increased its holdings in shares of Angel Oak Mortgage REIT by 427.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 145,565 shares of the company’s stock valued at $1,364,000 after acquiring an additional 117,956 shares during the last quarter. Alpine Global Management LLC bought a new stake in Angel Oak Mortgage REIT during the third quarter worth approximately $1,940,000. Riverbridge Partners LLC grew its holdings in Angel Oak Mortgage REIT by 120.3% during the fourth quarter. Riverbridge Partners LLC now owns 182,770 shares of the company’s stock valued at $1,574,000 after purchasing an additional 99,811 shares during the last quarter. Jacobs Asset Management LLC raised its position in shares of Angel Oak Mortgage REIT by 43.8% in the fourth quarter. Jacobs Asset Management LLC now owns 287,500 shares of the company’s stock valued at $2,475,000 after purchasing an additional 87,500 shares during the period. Finally, Wolverine Asset Management LLC raised its position in shares of Angel Oak Mortgage REIT by 40.5% in the fourth quarter. Wolverine Asset Management LLC now owns 289,090 shares of the company’s stock valued at $2,489,000 after purchasing an additional 83,381 shares during the period. Institutional investors own 80.15% of the company’s stock.

About Angel Oak Mortgage REIT

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.