Angel Oak Mortgage REIT's (AOMR) Buy Rating Reiterated at JonesTrading

Key Points

• JonesTrading reiterated its “buy” rating on Angel Oak Mortgage REIT and set a $10.50 price target, implying 16.52% upside from the stock’s $9.01 price.
• Analyst sentiment is mixed: two analysts rate the stock Buy, two Hold and one Sell, resulting in a consensus “Hold” rating and an average price target of $10.08.
• Angel Oak Mortgage REIT reported quarterly earnings of $0.35 per share, beating estimates by $0.02, while institutional investors own approximately 80.15% of the company.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report)'s stock had its "buy" rating restated by JonesTrading in a report issued on Tuesday,Benzinga reports. They presently have a $10.50 price target on the stock. JonesTrading's target price would indicate a potential upside of 16.52% from the stock's current price.

Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Angel Oak Mortgage REIT from a "hold (c)" rating to a "sell (d+)" rating in a research report on Friday, May 15th. BTIG Research lowered their price target on shares of Angel Oak Mortgage REIT from $13.50 to $10.00 and set a "buy" rating for the company in a report on Wednesday, June 17th. Two 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's stock. According to data from MarketBeat, Angel Oak Mortgage REIT presently has an average rating of "Hold" and a consensus price target of $10.08.

Angel Oak Mortgage REIT Stock Up 2.6%

Shares of NYSE AOMR traded up $0.23 on Tuesday, hitting $9.01. The company had a trading volume of 85,847 shares, compared to its average volume of 106,520. The business has a 50 day moving average of $8.70 and a two-hundred day moving average of $8.70. The firm has a market capitalization of $224.55 million, a P/E ratio of 14.09 and a beta of 1.25. The company has a quick ratio of 13.09, a current ratio of 13.09 and a debt-to-equity ratio of 8.44. Angel Oak Mortgage REIT has a 12-month low of $7.95 and a 12-month high of $10.14.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.02. Angel Oak Mortgage REIT had a return on equity of 5.25% and a net margin of 10.64%. As a group, equities research analysts forecast that Angel Oak Mortgage REIT will post 1.17 earnings per share for the current fiscal year.

Institutional Trading of Angel Oak Mortgage REIT

A number of hedge funds have recently made changes to their positions in AOMR. Strs Ohio acquired a new stake in Angel Oak Mortgage REIT in the first quarter valued at $25,000. Kemnay Advisory Services Inc. acquired a new position in Angel Oak Mortgage REIT during the 4th quarter worth $26,000. Royal Bank of Canada grew its holdings in Angel Oak Mortgage REIT by 94.0% during the 1st quarter. Royal Bank of Canada now owns 4,062 shares of the company's stock worth $33,000 after acquiring an additional 1,968 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Angel Oak Mortgage REIT by 343.0% in the 2nd 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 during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Angel Oak Mortgage REIT in the 4th quarter valued at about $87,000. Institutional investors and hedge funds 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.