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

Key Points

• B. Riley cut Angel Oak Mortgage REIT’s price target to $10 from $13 but maintained a Buy rating, implying about 51% upside from the stock’s then-current price.
• Analyst sentiment overall remained moderately positive: MarketBeat reported a consensus “Moderate Buy” rating and an average price target of $9.65.
• Quarterly results missed expectations: EPS was $0.28 versus the $0.32 consensus, and reported revenue was negative $10.63 million compared with estimates of $11.39 million.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) had its price target lowered by stock analysts at B. Riley Financial from $13.00 to $10.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley Financial's price target would indicate a potential upside of 50.83% from the company's current price.

AOMR has been the topic of several other reports. BTIG Research lowered their price objective on shares of Angel Oak Mortgage REIT from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, October 6th. Weiss Ratings cut shares of Angel Oak Mortgage REIT from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday. JonesTrading decreased their target price on shares of Angel Oak Mortgage REIT from $10.50 to $9.50 and set a "buy" rating for the company 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. Finally, 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 report on Wednesday, August 5th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.65.

Angel Oak Mortgage REIT Price Performance

AOMR stock opened at $6.63 on Wednesday. The company has a market capitalization of $153.95 million, a P/E ratio of 8.73 and a beta of 1.30. Angel Oak Mortgage REIT has a twelve month low of $6.14 and a twelve month high of $9.48. The business has a 50 day simple moving average of $7.62 and a 200-day simple moving average of $8.44. The company has a current ratio of 7.16, a quick ratio of 7.16 and a debt-to-equity ratio of 8.76.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) last announced its 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). Angel Oak Mortgage REIT had a return on equity of 7.74% and a net margin of 11.85%. The business had revenue of ($10.63) million for the quarter, compared to analysts' expectations of $11.39 million. As a group, equities analysts anticipate that Angel Oak Mortgage REIT will post 1.14 EPS for the current year.

Insider Activity

In related news, CFO Brandon Filson sold 65,000 shares of the 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 transaction, the chief financial officer directly owned 107,815 shares of the company's stock, valued at $854,972.95. This represents a 37.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director W D. Minami acquired 6,800 shares of Angel Oak Mortgage REIT stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average price of $8.10 per share, with a total value of $55,080.00. Following the transaction, the director owned 87,118 shares of the company's stock, valued at $705,655.80. This trade represents a 8.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in AOMR. BlackRock Inc. purchased a new stake in shares of Angel Oak Mortgage REIT in the second quarter valued at approximately $12,210,000. North Ground Capital purchased a new position in Angel Oak Mortgage REIT in the second quarter worth $1,492,471. Jacobs Asset Management LLC lifted its holdings in 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 acquiring an additional 87,500 shares during the period. Bank of New York Mellon Corp acquired a new stake in Angel Oak Mortgage REIT in the second quarter valued at $485,000. Finally, Odyssean LLC lifted its holdings in Angel Oak Mortgage REIT by 317.6% in the second quarter. Odyssean LLC now owns 41,791 shares of the company's stock valued at $379,000 after acquiring an additional 31,783 shares during the period. Institutional investors and hedge funds own 80.15% of the company's stock.

Trending Headlines about Angel Oak Mortgage REIT

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.

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