Angel Oak Mortgage REIT (NYSE:AOMR) Stock Price Target Cut by JonesTrading

Key Points

• JonesTrading lowered its price target on Angel Oak Mortgage REIT from $10.50 to $9.50 but maintained a Buy rating, implying 51.39% upside from the prior close. Analysts’ consensus rating is Hold, with an average target of $9.56.
• The stock fell to $6.28 on Tuesday, near its 52-week low of $6.14. The company reported quarterly EPS of $0.28, missing the $0.32 consensus estimate.
• Insider transactions were mixed: a director bought 6,800 shares, while the CFO sold 65,000 shares, reducing his position by 37.61%.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) had its price target reduced by equities research analysts at JonesTrading from $10.50 to $9.50 in a report released on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the stock. JonesTrading's price objective points to a potential upside of 51.39% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company cut 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. Weiss Ratings lowered Angel Oak Mortgage REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. Wall Street Zen upgraded shares of Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, BTIG Research decreased their price objective on Angel Oak Mortgage REIT from $10.00 to $9.00 and set a "buy" rating for the company in a report on Tuesday, October 6th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Angel Oak Mortgage REIT currently has an average rating of "Hold" and a consensus target price of $9.56.

Angel Oak Mortgage REIT Price Performance

NYSE AOMR traded down $0.88 during trading hours on Tuesday, hitting $6.28. The company had a trading volume of 319,697 shares, compared to its average volume of 117,972. The company has a debt-to-equity ratio of 8.76, a quick ratio of 7.16 and a current ratio of 7.16. The firm has a market capitalization of $145.67 million, a price-to-earnings ratio of 8.32 and a beta of 1.28. Angel Oak Mortgage REIT has a 52 week low of $6.14 and a 52 week high of $9.48. The firm has a 50 day simple moving average of $7.66 and a 200 day simple moving average of $8.45.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.04). The firm had revenue of ($10.63) million during the quarter, compared to the consensus estimate of $11.39 million. Angel Oak Mortgage REIT had a net margin of 11.85% and a return on equity of 7.74%. Equities research analysts expect that Angel Oak Mortgage REIT will post 1.14 earnings per share for the current year.

Insider Activity

In other Angel Oak Mortgage REIT news, Director W. Minami bought 6,800 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average price of $8.10 per share, with a total value of $55,080.00. Following the purchase, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brandon Filson sold 65,000 shares of the business's stock in a transaction on 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 transaction, the chief financial officer directly owned 107,815 shares in the company, valued at $854,972.95. This trade represents a 37.61% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Angel Oak Mortgage REIT in the 2nd quarter valued at about $58,000. Odyssean LLC raised its stake 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 acquiring an additional 31,783 shares during the last quarter. North Ground Capital acquired a new stake in shares of Angel Oak Mortgage REIT during the second quarter worth about $1,492,471. BlackRock Inc. acquired a new position in Angel Oak Mortgage REIT in the 2nd quarter worth approximately $12,210,000. Finally, Deutsche Bank AG acquired a new stake in shares of Angel Oak Mortgage REIT in the second quarter worth $141,000. 80.15% of the stock is currently owned by institutional investors.

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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