Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Stock Has Consensus Price Target of $10.06 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Six brokerages rate Angel Oak Mortgage REIT a consensus “Moderate Buy,” split evenly between three buy and three hold ratings. The average 12-month price target is $10.06, above the reported $7.45 share price.
• The stock offers a high dividend yield but carries payout concerns: AOMR declared a quarterly dividend of $0.32, equivalent to $1.28 annually and a 17.2% yield, while its payout ratio stands at 170.67%.
• Recent insider activity was mixed: CFO Brandon Filson sold 65,000 shares, reducing his position by 37.61%, while director W. Minami purchased 6,800 shares. Institutional investors and hedge funds own 80.15% of the company.

Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $10.06.

Several research analysts have recently weighed in on the stock. JonesTrading restated a "buy" rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings upgraded Angel Oak Mortgage REIT from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 4th. Wells Fargo & Company decreased their price target on shares of Angel Oak Mortgage REIT from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Finally, 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.

Angel Oak Mortgage REIT Stock Down 1.7%

Shares of AOMR stock opened at $7.45 on Friday. The firm's fifty day moving average price is $8.53 and its two-hundred day moving average price is $8.57. Angel Oak Mortgage REIT has a 1 year low of $7.44 and a 1 year high of $9.60. The company has a current ratio of 7.16, a quick ratio of 7.16 and a debt-to-equity ratio of 8.76. The firm has a market capitalization of $172.99 million, a P/E ratio of 9.93 and a beta of 1.26.

Angel Oak Mortgage REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 21st were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 17.2%. The ex-dividend date was Friday, August 21st. Angel Oak Mortgage REIT's payout ratio is 170.67%.

Insider Activity at Angel Oak Mortgage REIT

In other Angel Oak Mortgage REIT news, CFO Brandon Filson sold 65,000 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $7.93, for a total transaction of $515,450.00. Following the completion of the sale, the chief financial officer owned 107,815 shares of the company's stock, valued at approximately $854,972.95. This represents a 37.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director W. Minami purchased 6,800 shares of the company's stock in a transaction dated Thursday, September 10th. The stock was purchased at an average price of $8.10 per share, for a total transaction of $55,080.00. Following the transaction, the director directly owned 87,118 shares in the company, valued at approximately $705,655.80. This trade represents a 8.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.90% of the company's stock.

Institutional Trading of Angel Oak Mortgage REIT

A number of large investors have recently bought and sold shares of AOMR. Royal Bank of Canada lifted its stake in shares of Angel Oak Mortgage REIT by 94.0% in the 1st quarter. Royal Bank of Canada now owns 4,062 shares of the company's stock valued at $33,000 after purchasing an additional 1,968 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Angel Oak Mortgage REIT in the second quarter worth approximately $58,000. Bank of America Corp DE lifted its stake in Angel Oak Mortgage REIT by 23.1% in the first quarter. Bank of America Corp DE now owns 11,490 shares of the company's stock valued at $94,000 after buying an additional 2,155 shares during the period. Deutsche Bank AG bought a new position in shares of Angel Oak Mortgage REIT during the 2nd quarter worth approximately $141,000. Finally, State of Wyoming bought a new position in shares of Angel Oak Mortgage REIT during the 2nd quarter worth approximately $213,000. 80.15% of the stock is currently owned by institutional investors and hedge funds.

Angel Oak Mortgage REIT Company Profile

Angel Oak Mortgage REIT, Inc NYSE: AOMR is a real estate investment trust focused on investing in residential mortgage loans and other mortgage-related assets. The company primarily targets non-qualified mortgage (non-QM) loans, which are residential loans made to borrowers whose financial profiles may not fit traditional agency underwriting standards.

Its portfolio may include first-lien residential mortgage loans secured by properties in the United States, as well as residential mortgage-backed securities and other assets related to the housing finance market.

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