Goldman Sachs Group Inc. Increases Stake in Angel Oak Mortgage REIT Inc. $AOMR

Key Points

• Goldman Sachs increased its stake in Angel Oak Mortgage REIT Inc. by 83.6%, owning 159,374 shares valued at approximately $1.5 million.
• The company recently announced a quarterly dividend of $0.32, resulting in an annualized dividend yield of 13.1%.
• Four analysts rated the stock as a "Buy," while two others assigned a "Hold" rating, with an average target price of $11.60.

Goldman Sachs Group Inc. boosted its position in Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Free Report) by 83.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 159,374 shares of the company's stock after acquiring an additional 72,555 shares during the period. Goldman Sachs Group Inc. owned 0.68% of Angel Oak Mortgage REIT worth $1,519,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Angel Oak Mortgage REIT during the 1st quarter valued at about $25,000. Public Employees Retirement System of Ohio lifted its position in Angel Oak Mortgage REIT by 55.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 6,465 shares of the company's stock valued at $60,000 after acquiring an additional 2,300 shares during the period. BNP Paribas Financial Markets purchased a new position in Angel Oak Mortgage REIT in the fourth quarter worth about $76,000. M&T Bank Corp purchased a new position in Angel Oak Mortgage REIT in the first quarter worth about $110,000. Finally, State of Wyoming purchased a new position in Angel Oak Mortgage REIT in the first quarter worth about $116,000. Institutional investors own 80.15% of the company's stock.

Insiders Place Their Bets

In other news, CFO Brandon Filson sold 50,000 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $9.78, for a total value of $489,000.00. Following the sale, the chief financial officer owned 70,488 shares of the company's stock, valued at approximately $689,372.64. This represents a 41.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Davidson Kempner Capital Manag sold 595,000 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $9.75, for a total transaction of $5,801,250.00. Following the completion of the sale, the insider directly owned 4,134,210 shares in the company, valued at approximately $40,308,547.50. This represents a 12.58% decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group set a $10.50 target price on shares of Angel Oak Mortgage REIT and gave the stock a "neutral" rating in a report on Thursday, July 10th. Zacks Research raised shares of Angel Oak Mortgage REIT from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Jones Trading reiterated 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, Wall Street Zen upgraded shares of Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $11.60.

Angel Oak Mortgage REIT Price Performance

Angel Oak Mortgage REIT stock traded down $0.05 during mid-day trading on Tuesday, reaching $9.56. 51,309 shares of the company's stock traded hands, compared to its average volume of 136,746. The company has a market cap of $227.12 million, a price-to-earnings ratio of 6.21 and a beta of 1.38. The stock has a 50 day moving average of $9.59 and a two-hundred day moving average of $9.34. The company has a quick ratio of 17.69, a current ratio of 17.69 and a debt-to-equity ratio of 7.53. Angel Oak Mortgage REIT Inc. has a 12-month low of $7.36 and a 12-month high of $10.88.

Angel Oak Mortgage REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 22nd were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 13.4%. Angel Oak Mortgage REIT's dividend payout ratio is presently 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.