Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Short Interest Up 24.2% in March

Key Points

• Short interest up 24.2% in March to 364,670 shares (about 1.5% of shares) with a days-to-cover ratio of 4.7.
• Shares traded at $8.18 (market cap ~$203.8M) and the company pays a quarterly $0.32 dividend—an annualized 15.6% yield; the company recently beat EPS and revenue estimates ($0.29 EPS vs. $0.28 expected).
• Wall Street’s consensus is a Hold with an average target of $11.08, while institutional investors own roughly 80.15% of the stock and some funds have recently increased positions.

Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 364,670 shares, a growth of 24.2% from the February 26th total of 293,587 shares. Based on an average trading volume of 78,256 shares, the days-to-cover ratio is currently 4.7 days. Approximately 1.5% of the company's shares are short sold.

Angel Oak Mortgage REIT Trading Up 2.8%

Angel Oak Mortgage REIT stock traded up $0.22 during mid-day trading on Monday, hitting $8.18. The company's stock had a trading volume of 48,821 shares, compared to its average volume of 91,485. The firm has a market capitalization of $203.83 million, a PE ratio of 4.52 and a beta of 1.36. Angel Oak Mortgage REIT has a 1 year low of $7.36 and a 1 year high of $10.34. The company has a current ratio of 10.95, a quick ratio of 10.95 and a debt-to-equity ratio of 7.49. The stock's fifty day moving average is $8.71 and its two-hundred day moving average is $8.91.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) last posted its earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Angel Oak Mortgage REIT had a return on equity of 5.15% and a net margin of 30.65%.The company had revenue of $16.70 million for the quarter, compared to the consensus estimate of $11.33 million. On average, analysts anticipate that Angel Oak Mortgage REIT will post 0.03 EPS for the current year.

Angel Oak Mortgage REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 20th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 15.6%. The ex-dividend date was Friday, February 20th. Angel Oak Mortgage REIT's payout ratio is 70.72%.

Wall Street Analyst Weigh In

AOMR has been the topic of several recent research reports. JonesTrading reissued a "buy" rating and set a $10.50 price target on shares of Angel Oak Mortgage REIT in a research report on Thursday, February 26th. Weiss Ratings restated a "hold (c-)" rating on shares of Angel Oak Mortgage REIT in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Angel Oak Mortgage REIT currently has a consensus rating of "Hold" and an average target price of $11.08.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AOMR. Victory Capital Management Inc. lifted its holdings in shares of 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 worth $14,136,000 after acquiring an additional 1,085,507 shares during the last quarter. Alpine Global Management LLC acquired a new stake in Angel Oak Mortgage REIT in the 3rd quarter valued at approximately $1,940,000. North Ground Capital raised its position in Angel Oak Mortgage REIT by 94.4% in the third quarter. North Ground Capital now owns 388,836 shares of the company's stock valued at $3,643,000 after purchasing an additional 188,836 shares during the period. JPMorgan Chase & Co. raised its position in Angel Oak Mortgage REIT by 427.2% in the third quarter. JPMorgan Chase & Co. now owns 145,565 shares of the company's stock valued at $1,364,000 after purchasing an additional 117,956 shares during the period. Finally, Riverbridge Partners LLC lifted its stake in Angel Oak Mortgage REIT by 120.3% during the fourth quarter. Riverbridge Partners LLC now owns 182,770 shares of the company's stock worth $1,574,000 after purchasing an additional 99,811 shares in the last quarter. Hedge funds and other institutional investors own 80.15% of the company's stock.

About Angel Oak Mortgage REIT

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.