Angel Oak Mortgage REIT (NYSE:AOMR) Price Target Cut to $10.00 by Analysts at B. Riley Financial

Angel Oak Mortgage REIT (NYSE:AOMR) had its price objective dropped by B. Riley Financial from $13.00 to $10.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial‘s price target suggests a potential upside of 50.83% from the stock’s current price.

Several other research firms also recently weighed in on AOMR. Weiss Ratings downgraded Angel Oak Mortgage REIT from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Wall Street Zen raised Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company decreased their target price 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. BTIG Research cut their price target on Angel Oak Mortgage REIT from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Finally, JonesTrading decreased their price objective on shares of Angel Oak Mortgage REIT from $10.50 to $9.50 and set a “buy” rating on the stock in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Angel Oak Mortgage REIT has a consensus rating of “Moderate Buy” and a consensus target price of $9.65.

Angel Oak Mortgage REIT Trading Up 5.6%

Shares of Angel Oak Mortgage REIT stock opened at $6.63 on Wednesday. Angel Oak Mortgage REIT has a 12-month low of $6.14 and a 12-month high of $9.48. The company has a current ratio of 7.16, a quick ratio of 7.16 and a debt-to-equity ratio of 8.76. The stock has a market cap of $153.95 million, a PE ratio of 8.73 and a beta of 1.30. The company has a 50-day moving average of $7.62 and a two-hundred day moving average of $8.44.

Angel Oak Mortgage REIT (NYSE:AOMR) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of ($10.63) million for the quarter, compared to analyst estimates of $11.39 million. Angel Oak Mortgage REIT had a net margin of 11.85% and a return on equity of 7.74%. On average, research analysts anticipate that Angel Oak Mortgage REIT will post 1.14 EPS for the current fiscal year.

Insider Activity at Angel Oak Mortgage REIT

In related news, CFO Brandon Filson sold 65,000 shares of Angel Oak Mortgage REIT stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $7.93, for a total transaction of $515,450.00. Following the completion of the sale, the chief financial officer owned 107,815 shares in the company, valued at approximately $854,972.95. This trade represents a 37.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Fierman acquired 38,726 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The shares were bought at an average price of $7.50 per share, with a total value of $290,445.00. Following the transaction, the director owned 105,247 shares in the company, valued at $789,352.50. This represents a 58.22% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Angel Oak Mortgage REIT during the second quarter worth about $12,210,000. Jacobs Asset Management LLC raised its position 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 buying an additional 87,500 shares during the last quarter. North Ground Capital acquired a new position in shares of Angel Oak Mortgage REIT in the second quarter valued at approximately $1,492,471. Bank of New York Mellon Corp purchased a new position in shares of Angel Oak Mortgage REIT during the second quarter valued at approximately $485,000. Finally, Odyssean LLC lifted its stake in shares of Angel Oak Mortgage REIT by 317.6% during the second quarter. Odyssean LLC now owns 41,791 shares of the company’s stock valued at $379,000 after buying an additional 31,783 shares during the period. 80.15% of the stock is owned by institutional investors and hedge funds.

Key Angel Oak Mortgage REIT News

Here are the key news stories impacting Angel Oak Mortgage REIT this week:

• Positive Sentiment: The company declared a quarterly dividend of $0.32 per share, payable November 30 to shareholders of record November 23. The annualized payout is $1.28 per share. Dividend information
• Positive Sentiment: JonesTrading lowered its price target to $9.50 from $10.50 but kept its Buy rating, signaling continued potential upside in the analyst’s view. JonesTrading ratings
• Negative Sentiment: Third-quarter results missed expectations: reported EPS was $0.28 versus the $0.32 consensus, while reported revenue of negative $10.63 million compared with estimates of positive $11.39 million. Coverage also highlighted a GAAP loss and mounting challenges in the non-QM mortgage business. Q3 earnings coverage GAAP loss and non-QM challenges

About Angel Oak Mortgage REIT

Angel Oak Mortgage REIT, Inc is a real estate investment trust focused on investing in residential mortgage assets. The company primarily targets non-qualified mortgage loans, or non-QM loans, which are residential mortgages made to creditworthy borrowers whose financial profiles may not fit traditional agency underwriting standards.

Its investment portfolio may also include residential mortgage-backed securities and other mortgage-related assets. Angel Oak Mortgage REIT seeks to generate income through interest payments and other returns from these investments, with an emphasis on loans secured by residential properties in the United States.

Angel Oak Mortgage REIT is externally managed by Angel Oak Capital Advisors, an investment management firm specializing in mortgage credit and related strategies.