Brokerages Set Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Price Target at $11.60

Key Points

• Angel Oak Mortgage REIT Inc. (NYSE:AOMR) has an average rating of "Moderate Buy" from five research firms, with a target price set at $11.60.
• The company recently announced a quarterly dividend of $0.32, which represents a 13.1% annualized dividend yield.
• Hedge funds and institutional investors have increased their stakes in Angel Oak Mortgage REIT significantly, with 80.15% of the company's stock now owned by these entities.

Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Get Free Report) has received a consensus rating of "Moderate Buy" from the six analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $11.60.

AOMR has been the subject of a number of recent research reports. UBS Group set a $10.50 price objective on Angel Oak Mortgage REIT and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Jones Trading reaffirmed a "buy" rating and set a $10.50 price target on shares of Angel Oak Mortgage REIT in a research note on Tuesday, August 5th. Wall Street Zen raised Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Zacks Research upgraded Angel Oak Mortgage REIT from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Finally, B. Riley reaffirmed a "buy" rating and issued a $13.00 price objective (up from $12.00) on shares of Angel Oak Mortgage REIT in a research note on Friday, May 16th.

Angel Oak Mortgage REIT Price Performance

Shares of NYSE:AOMR traded up $0.1450 during trading on Friday, hitting $9.7950. 120,926 shares of the stock were exchanged, compared to its average volume of 125,333. Angel Oak Mortgage REIT has a 12-month low of $7.36 and a 12-month high of $12.25. The company has a market cap of $232.73 million, a PE ratio of 6.36 and a beta of 1.38. The company has a fifty day moving average price of $9.38 and a two-hundred day moving average price of $9.41. The company has a current ratio of 17.69, a quick ratio of 17.69 and a debt-to-equity ratio of 7.53.

Angel Oak Mortgage REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 22nd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 13.1%. The ex-dividend date is Friday, August 22nd. Angel Oak Mortgage REIT's payout ratio is currently 83.12%.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Several hedge funds and other institutional investors have recently made changes to their positions in AOMR. BNP Paribas Financial Markets lifted its position in shares of Angel Oak Mortgage REIT by 343.0% during the second quarter. BNP Paribas Financial Markets now owns 3,929 shares of the company's stock worth $37,000 after purchasing an additional 3,042 shares in the last quarter. Bank of America Corp DE raised its position in shares of Angel Oak Mortgage REIT by 253.0% during the 2nd quarter. Bank of America Corp DE now owns 24,516 shares of the company's stock worth $231,000 after buying an additional 17,571 shares in the last quarter. Vivaldi Capital Management LP boosted its stake in Angel Oak Mortgage REIT by 5.7% during the second quarter. Vivaldi Capital Management LP now owns 116,379 shares of the company's stock valued at $1,096,000 after buying an additional 6,274 shares in the last quarter. Marshall Wace LLP raised its position in Angel Oak Mortgage REIT by 9.8% in the second quarter. Marshall Wace LLP now owns 196,082 shares of the company's stock worth $1,847,000 after acquiring an additional 17,579 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Angel Oak Mortgage REIT by 32.6% during the second quarter. Invesco Ltd. now owns 23,225 shares of the company's stock valued at $219,000 after purchasing an additional 5,711 shares during the last quarter. Institutional investors and hedge funds own 80.15% of the company's stock.

About Angel Oak Mortgage REIT

Angel Oak Mortgage REIT, Inc, a real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market. It offers investment securities; residential mortgage loans; and commercial mortgage loans.