Angel Oak Mortgage REIT (NYSE:AOMR) Stock Price Up 2.1% – Should You Buy?

Angel Oak Mortgage REIT Inc. (NYSE:AOMR)’s share price rose 2.1% on Wednesday . The company traded as high as $8.40 and last traded at $8.34. Approximately 156,319 shares were traded during trading, an increase of 45% from the average daily volume of 107,506 shares. The stock had previously closed at $8.17.

Wall Street Analysts Forecast Growth

AOMR has been the topic of a number of recent research reports. Weiss Ratings lowered Angel Oak Mortgage REIT from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, May 15th. JonesTrading reaffirmed a “buy” rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a research report on Thursday, February 26th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Angel Oak Mortgage REIT currently has a consensus rating of “Hold” and an average price target of $10.13.

Angel Oak Mortgage REIT Stock Down 0.7%

The company has a debt-to-equity ratio of 8.44, a current ratio of 13.09 and a quick ratio of 13.09. The company has a market cap of $205.69 million, a price-to-earnings ratio of 12.90 and a beta of 1.32. The firm’s 50 day simple moving average is $8.56 and its 200-day simple moving average is $8.69.

Angel Oak Mortgage REIT (NYSE:AOMR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of ($2.20) million during the quarter, compared to analyst estimates of $11.14 million. As a group, sell-side analysts anticipate that Angel Oak Mortgage REIT Inc. will post 1.15 earnings per share for the current year.

Angel Oak Mortgage REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 22nd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 15.5%. The ex-dividend date of this dividend is Friday, May 22nd. Angel Oak Mortgage REIT’s dividend payout ratio is presently 200.00%.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its holdings in Angel Oak Mortgage REIT by 256.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,508,687 shares of the company’s stock valued at $14,136,000 after purchasing an additional 1,085,507 shares in the last quarter. JPMorgan Chase & Co. raised its stake 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 worth $1,364,000 after buying an additional 117,956 shares in the last quarter. Alpine Global Management LLC acquired a new stake in shares of Angel Oak Mortgage REIT in the 3rd quarter valued at approximately $1,940,000. Riverbridge Partners LLC lifted its holdings in shares of Angel Oak Mortgage REIT by 120.3% in the 4th quarter. Riverbridge Partners LLC now owns 182,770 shares of the company’s stock valued at $1,574,000 after buying an additional 99,811 shares during the period. Finally, Wolverine Asset Management LLC boosted its stake 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 buying an additional 83,381 shares in the last quarter. 80.15% of the stock is owned by hedge funds and other 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.