Angel Oak Mortgage REIT (NYSE:AOMR) Trading 1% Higher – Time to Buy?

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AOMR shares. BTIG Research cut their price objective on Angel Oak Mortgage REIT from $13.50 to $10.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. Weiss Ratings cut 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 equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.08.

Angel Oak Mortgage REIT Trading Up 1.0%

The firm has a market capitalization 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. The firm has a 50 day moving average price of $8.57 and a two-hundred day moving average price of $8.67.

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 analysts’ consensus estimates of $0.30 by ($0.12). Angel Oak Mortgage REIT had a return on equity of 5.25% and a net margin of 10.64%.The company had revenue of ($2.20) million for the quarter, compared to analyst estimates of $11.14 million. On average, equities research analysts expect that Angel Oak Mortgage REIT Inc. 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 was paid on Friday, May 29th. Stockholders of record on Friday, May 22nd were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 14.2%. The ex-dividend date of this dividend was Friday, May 22nd. Angel Oak Mortgage REIT’s dividend payout ratio (DPR) is 200.00%.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in Angel Oak Mortgage REIT during the 1st quarter valued at $25,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Angel Oak Mortgage REIT in the fourth quarter worth $26,000. Royal Bank of Canada grew its holdings in shares of Angel Oak Mortgage REIT by 94.0% during the first quarter. Royal Bank of Canada now owns 4,062 shares of the company’s stock valued at $33,000 after buying an additional 1,968 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Angel Oak Mortgage REIT by 343.0% during the second quarter. BNP Paribas Financial Markets now owns 3,929 shares of the company’s stock valued at $37,000 after buying an additional 3,042 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Angel Oak Mortgage REIT during the fourth quarter valued at $87,000. Institutional investors and hedge funds own 80.15% of the company’s stock.

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.