Angel Oak Mortgage REIT Inc. (NYSE:AOMR) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts rate Angel Oak Mortgage REIT “Hold” overall: Of six analysts, three recommend buying, two recommend holding, and one recommends selling. The average 12-month price target is $9.81 versus a recent share price of $7.08.
• Insider activity was mixed: Director Michael Fierman bought 38,726 shares, while CFO Brandon Filson sold 65,000 shares. Institutional investors own approximately 80.15% of the company.
• The stock offers a high dividend yield but carries payout concerns: AOMR pays an annualized dividend of $1.28, yielding about 18.1%, while its dividend payout ratio is 170.67%.

Shares of Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Get Free Report) have been assigned a consensus rating of "Hold" from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $9.81.

Several analysts recently issued reports on the company. Wall Street Zen raised Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. 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. BTIG Research dropped their target price on Angel Oak Mortgage REIT from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Tuesday, October 6th. Weiss Ratings lowered Angel Oak Mortgage REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. Finally, Wells Fargo & Company cut their target price on Angel Oak Mortgage REIT from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 5th.

Insider Buying and Selling

In other news, Director Michael Fierman bought 38,726 shares of Angel Oak Mortgage REIT stock in a transaction on Friday, September 25th. The stock was purchased at an average cost of $7.50 per share, with a total value of $290,445.00. Following the purchase, the director directly owned 105,247 shares of the company's stock, valued at approximately $789,352.50. This trade represents a 58.22% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brandon Filson sold 65,000 shares of the company's stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $7.93, for a total transaction of $515,450.00. Following the completion of the transaction, the chief financial officer owned 107,815 shares of the company's stock, valued at approximately $854,972.95. This trade represents a 37.61% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.90% of the company's stock.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

Hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in 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 worth $33,000 after buying an additional 1,968 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Angel Oak Mortgage REIT during the 2nd quarter valued at $58,000. Bank of America Corp DE raised its stake in Angel Oak Mortgage REIT by 23.1% during the 1st quarter. Bank of America Corp DE now owns 11,490 shares of the company's stock valued at $94,000 after acquiring an additional 2,155 shares in the last quarter. Deutsche Bank AG acquired a new position in Angel Oak Mortgage REIT during the 2nd quarter worth $141,000. Finally, State of Wyoming acquired a new position in Angel Oak Mortgage REIT during the 2nd quarter worth $213,000. Institutional investors own 80.15% of the company's stock.

Angel Oak Mortgage REIT Stock Performance

Shares of AOMR stock opened at $7.08 on Tuesday. The company has a quick ratio of 7.16, a current ratio of 7.16 and a debt-to-equity ratio of 8.76. The business has a 50 day moving average of $7.97 and a two-hundred day moving average of $8.44. Angel Oak Mortgage REIT has a 52 week low of $6.96 and a 52 week high of $9.48. The company has a market cap of $164.28 million, a P/E ratio of 9.43 and a beta of 1.28.

Angel Oak Mortgage REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 21st were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 18.1%. The ex-dividend date of this dividend was Friday, August 21st. Angel Oak Mortgage REIT's dividend payout ratio (DPR) is 170.67%.

About Angel Oak Mortgage REIT

Angel Oak Mortgage REIT, Inc NYSE: AOMR is a mortgage real estate investment trust focused on investing in residential mortgage assets. The company primarily targets newly originated, performing residential mortgage loans, including non-qualified mortgage loans made to borrowers who may not meet the underwriting criteria for conventional agency mortgages.

Angel Oak Mortgage REIT's portfolio may include whole residential mortgage loans, mortgage-backed securities and other residential credit investments.

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