Angel Oak Mortgage REIT (NYSE:AOMR) Posts Earnings Results

Key Points

• Angel Oak Mortgage REIT reported quarterly earnings of $0.10 per share, missing the analysts' consensus estimate of $0.28 by $0.18.
• Shares of AOMR traded down to $8.80, with a market capitalization of $206.80 million and a PE ratio of 5.87.
• Institutional investors own 80.15% of Angel Oak Mortgage REIT, with significant increases in holdings by firms like Goldman Sachs Group and Jane Street Group.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) announced its earnings results on Tuesday. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.18), Zacks reports. Angel Oak Mortgage REIT had a net margin of 29.42% and a return on equity of 4.78%. The business had revenue of $10.42 million for the quarter, compared to the consensus estimate of $10.04 million.

Angel Oak Mortgage REIT Price Performance

Shares of AOMR traded up $0.17 during mid-day trading on Friday, hitting $9.14. 101,660 shares of the company traded hands, compared to its average volume of 80,348. Angel Oak Mortgage REIT has a one year low of $7.36 and a one year high of $12.25. The company has a current ratio of 17.69, a quick ratio of 5.96 and a debt-to-equity ratio of 7.53. The business has a 50-day moving average of $9.32 and a 200 day moving average of $9.44. The stock has a market capitalization of $217.17 million, a price-to-earnings ratio of 5.94 and a beta of 1.38.

Angel Oak Mortgage REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend yield of 14.0%. The ex-dividend date of this dividend is Friday, August 22nd. Angel Oak Mortgage REIT's dividend payout ratio is 83.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. B. Riley reiterated a "buy" rating and issued a $13.00 price target (up from $12.00) on shares of Angel Oak Mortgage REIT in a research report on Friday, May 16th. UBS Group set a $10.50 price target on Angel Oak Mortgage REIT and gave the company a "neutral" rating in a report on Thursday, July 10th. Jones Trading reaffirmed a "buy" rating and issued a $10.50 price target on shares of Angel Oak Mortgage REIT in a report on Tuesday. Finally, Wall Street Zen raised Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a report on Saturday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $11.60.

Institutional Trading of Angel Oak Mortgage REIT

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in Angel Oak Mortgage REIT by 83.6% in the first quarter. Goldman Sachs Group Inc. now owns 159,374 shares of the company's stock worth $1,519,000 after purchasing an additional 72,555 shares during the period. Jane Street Group LLC boosted its holdings in shares of Angel Oak Mortgage REIT by 23.6% during the 1st quarter. Jane Street Group LLC now owns 47,219 shares of the company's stock worth $450,000 after buying an additional 9,012 shares during the period. Geode Capital Management LLC boosted its holdings in Angel Oak Mortgage REIT by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 321,084 shares of the company's stock valued at $3,025,000 after purchasing an additional 5,312 shares during the period. Finally, Strs Ohio bought a new stake in shares of Angel Oak Mortgage REIT during the 1st quarter worth approximately $25,000. 80.15% of the stock is owned by institutional investors.

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.