Angel Oak Mortgage REIT Inc. (NYSE:AOMR – Get Free Report) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $10.06.
Several equities analysts recently weighed in on AOMR shares. JonesTrading reaffirmed a “buy” rating and issued a $10.50 price target on shares of Angel Oak Mortgage REIT in a research report on Tuesday, August 4th. BTIG Research dropped their target price on Angel Oak Mortgage REIT from $13.50 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Weiss Ratings upgraded shares of Angel Oak Mortgage REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Wells Fargo & Company decreased their price objective on shares of Angel Oak Mortgage REIT from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th.
Read Our Latest Stock Analysis on Angel Oak Mortgage REIT
Angel Oak Mortgage REIT Price Performance
Angel Oak Mortgage REIT Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 21st were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 17.2%. The ex-dividend date of this dividend was Friday, August 21st. Angel Oak Mortgage REIT’s payout ratio is 170.67%.
Insider Transactions at Angel Oak Mortgage REIT
In related news, CFO Brandon Filson sold 65,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director W. Minami acquired 6,800 shares of the stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $8.10 per share, for a total transaction of $55,080.00. Following the transaction, the director owned 87,118 shares of the company’s stock, valued at approximately $705,655.80. This trade represents a 8.47% increase in their position. The SEC filing for this purchase provides additional information. Company 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 stock. BlackRock Inc. purchased a new position in Angel Oak Mortgage REIT in the second quarter worth $12,210,000. North Ground Capital bought a new stake in Angel Oak Mortgage REIT during the second quarter worth about $1,492,471. Jacobs Asset Management LLC boosted its holdings in shares of Angel Oak Mortgage REIT by 30.4% in the 1st quarter. Jacobs Asset Management LLC now owns 375,000 shares of the company’s stock worth $3,082,000 after purchasing an additional 87,500 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Angel Oak Mortgage REIT during the 2nd quarter valued at about $485,000. Finally, Odyssean LLC lifted its position in Angel Oak Mortgage REIT by 317.6% in the 2nd quarter. Odyssean LLC now owns 41,791 shares of the company’s stock worth $379,000 after buying an additional 31,783 shares during the last quarter. Institutional investors 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 focused on investing in residential mortgage loans and other mortgage-related assets. The company primarily targets non-qualified mortgage (non-QM) loans, which are residential loans made to borrowers whose financial profiles may not fit traditional agency underwriting standards.
Its portfolio may include first-lien residential mortgage loans secured by properties in the United States, as well as residential mortgage-backed securities and other assets related to the housing finance market.
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