Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Short Interest Up 33.3% in August

Key Points

• Short interest in Angel Oak Mortgage REIT Inc. (NYSE:AOMR) increased by 33.3% in August, totaling 236,200 shares, indicating growing market skepticism.
• The company recently declared a quarterly dividend of $0.32 per share, reflecting a dividend yield of 13.0% and an annualized payout of $1.28.
• Analysts have generally upgraded their ratings on AOMR, with four giving a Buy rating and a consensus price target of $11.60.

Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Get Free Report) was the target of a large growth in short interest during the month of August. As of August 15th, there was short interest totaling 236,200 shares, a growth of 33.3% from the July 31st total of 177,200 shares. Approximately 1.3% of the company's shares are short sold. Based on an average daily volume of 128,200 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 128,200 shares, the short-interest ratio is presently 1.8 days. Approximately 1.3% of the company's shares are short sold.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AOMR shares. B. Riley reissued a "buy" rating and issued a $13.00 target price (up previously from $12.00) on shares of Angel Oak Mortgage REIT in a research report on Friday, May 16th. Wall Street Zen raised Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. UBS Group set a $10.50 price target on Angel Oak Mortgage REIT and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Jones Trading restated a "buy" rating and issued a $10.50 price target on shares of Angel Oak Mortgage REIT in a research note on Tuesday, August 5th. Finally, Zacks Research upgraded Angel Oak Mortgage REIT from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $11.60.

Insider Buying and Selling

In other Angel Oak Mortgage REIT news, major shareholder Davidson Kempner Capital Manag sold 595,000 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $9.75, for a total transaction of $5,801,250.00. Following the completion of the transaction, the insider owned 4,134,210 shares of the company's stock, valued at $40,308,547.50. This represents a 12.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Hedge funds and other institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in shares of Angel Oak Mortgage REIT by 161.2% during the 4th quarter. Ameriprise Financial Inc. now owns 82,223 shares of the company's stock valued at $763,000 after buying an additional 50,739 shares during the period. M&T Bank Corp bought a new position in shares of Angel Oak Mortgage REIT during the 1st quarter valued at $110,000. Bank of New York Mellon Corp lifted its holdings in shares of Angel Oak Mortgage REIT by 29.4% during the 1st quarter. Bank of New York Mellon Corp now owns 235,002 shares of the company's stock valued at $2,240,000 after buying an additional 53,463 shares during the period. Millennium Management LLC lifted its holdings in shares of Angel Oak Mortgage REIT by 52.0% during the 4th quarter. Millennium Management LLC now owns 102,221 shares of the company's stock valued at $949,000 after buying an additional 34,977 shares during the period. Finally, North Ground Capital raised its holdings in Angel Oak Mortgage REIT by 42.5% in the 1st quarter. North Ground Capital now owns 168,128 shares of the company's stock worth $1,589,000 after purchasing an additional 50,157 shares during the period. 80.15% of the stock is owned by institutional investors.

Angel Oak Mortgage REIT Stock Down 0.8%

AOMR traded down $0.08 during trading on Friday, hitting $9.76. 79,193 shares of the company's stock traded hands, compared to its average volume of 223,031. The company's 50 day simple moving average is $9.57 and its two-hundred day simple moving average is $9.34. 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 has a 12-month low of $7.36 and a 12-month high of $10.88. The stock has a market capitalization of $231.95 million, a price-to-earnings ratio of 6.34 and a beta of 1.38.

Angel Oak Mortgage REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 22nd were 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 was Friday, August 22nd. Angel Oak Mortgage REIT's dividend payout ratio (DPR) is currently 83.12%.

Angel Oak Mortgage REIT Company Profile

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.