Brokerages Set Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Price Target at $10.06

Angel Oak Mortgage REIT Inc. (NYSE:AOMR) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $10.0625.

Several research firms recently issued reports on AOMR. Wall Street Zen upgraded Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded Angel Oak Mortgage REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Wells Fargo & Company lowered their price target on Angel Oak Mortgage REIT from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. JonesTrading reiterated a “buy” rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a research note on Tuesday, August 4th. Finally, 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.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

A number of institutional investors and hedge funds have recently modified their holdings of AOMR. Jacobs Asset Management LLC boosted its stake in shares of Angel Oak Mortgage REIT by 43.8% during the 4th quarter. Jacobs Asset Management LLC now owns 287,500 shares of the company’s stock worth $2,475,000 after acquiring an additional 87,500 shares during the period. BlackRock Inc. acquired a new position in shares of Angel Oak Mortgage REIT during the 2nd quarter worth approximately $12,210,000. North Ground Capital bought a new stake in Angel Oak Mortgage REIT in the 2nd quarter valued at $1,492,471. Wolverine Asset Management LLC raised its stake in Angel Oak Mortgage REIT by 40.5% in the 4th quarter. Wolverine Asset Management LLC now owns 289,090 shares of the company’s stock valued at $2,489,000 after acquiring an additional 83,381 shares during the period. Finally, Odyssean LLC lifted its holdings in Angel Oak Mortgage REIT by 317.6% during the 2nd quarter. Odyssean LLC now owns 41,791 shares of the company’s stock valued at $379,000 after purchasing an additional 31,783 shares during the last quarter. 80.15% of the stock is owned by institutional investors.

Angel Oak Mortgage REIT Trading Up 0.2%

Angel Oak Mortgage REIT stock opened at $8.33 on Monday. The company has a market cap of $193.42 million, a price-to-earnings ratio of 11.11 and a beta of 1.26. The firm has a 50-day moving average of $8.82 and a 200-day moving average of $8.63. The company has a debt-to-equity ratio of 8.76, a current ratio of 7.16 and a quick ratio of 7.16. Angel Oak Mortgage REIT has a one year low of $7.95 and a one year high of $10.14.

Angel Oak Mortgage REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 21st were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 15.4%. The ex-dividend date of this dividend was Friday, August 21st. Angel Oak Mortgage REIT’s dividend payout ratio (DPR) is 170.67%.

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.