Bank of New York Mellon Corp Raises Holdings in Angel Oak Mortgage REIT Inc. (NYSE:AOMR)

Key Points

• Bank of New York Mellon Corp increased its holdings in Angel Oak Mortgage REIT by 29.4% during the first quarter, owning approximately 1.00% of the company valued at $2.24 million.
• Several analysts have issued ratings on Angel Oak Mortgage REIT, with one analyst downgrading it to a "sell" but a consensus rating of "Moderate Buy" prevailing, with an average target price of $11.92.
• Angel Oak Mortgage REIT's recent dividend payout was $0.32 per share, reflecting an annualized yield of 13.39% with a payout ratio of 85.33%.

Bank of New York Mellon Corp lifted its stake in shares of Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Free Report) by 29.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,002 shares of the company's stock after acquiring an additional 53,463 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.00% of Angel Oak Mortgage REIT worth $2,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Angel Oak Mortgage REIT by 9.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 40,398 shares of the company's stock worth $375,000 after purchasing an additional 3,577 shares during the period. JPMorgan Chase & Co. grew its stake in Angel Oak Mortgage REIT by 6.4% during the fourth quarter. JPMorgan Chase & Co. now owns 28,931 shares of the company's stock worth $268,000 after purchasing an additional 1,730 shares during the period. National Bank of Canada FI boosted its position in shares of Angel Oak Mortgage REIT by 140.0% during the fourth quarter. National Bank of Canada FI now owns 6,000 shares of the company's stock valued at $56,000 after buying an additional 3,500 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Angel Oak Mortgage REIT by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 312,457 shares of the company's stock valued at $2,901,000 after buying an additional 8,316 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Angel Oak Mortgage REIT by 62.3% during the fourth quarter. Wells Fargo & Company MN now owns 184,965 shares of the company's stock valued at $1,716,000 after buying an additional 70,990 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. B. Riley reaffirmed a "buy" rating and set a $13.00 target price (up previously from $12.00) on shares of Angel Oak Mortgage REIT in a research report on Friday, May 16th. Wall Street Zen lowered Angel Oak Mortgage REIT from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Jones Trading reiterated a "buy" rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a research note on Tuesday, May 6th. Finally, UBS Group set a $10.50 price objective on Angel Oak Mortgage REIT and gave the company a "neutral" rating in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Angel Oak Mortgage REIT presently has an average rating of "Moderate Buy" and a consensus price target of $11.60.

Angel Oak Mortgage REIT Price Performance

Angel Oak Mortgage REIT stock traded down $0.11 during midday trading on Friday, hitting $9.15. 24,357 shares of the company's stock were exchanged, compared to its average volume of 120,194. Angel Oak Mortgage REIT Inc. has a 52-week low of $7.36 and a 52-week high of $12.94. The stock has a 50-day moving average price of $9.34 and a two-hundred day moving average price of $9.48. The company has a debt-to-equity ratio of 6.38, a quick ratio of 5.96 and a current ratio of 5.96. The company has a market cap of $214.93 million, a P/E ratio of 6.10 and a beta of 1.38.

Angel Oak Mortgage REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 22nd were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, May 22nd. This represents a $1.28 annualized dividend and a yield of 14.0%. Angel Oak Mortgage REIT's dividend payout ratio is currently 85.33%.

Angel Oak Mortgage REIT 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.