JPMorgan Chase & Co. Raises Stake in Angel Oak Mortgage REIT Inc. $AOMR

Key Points

• JPMorgan Chase & Co. increased its stake in Angel Oak Mortgage REIT by 427.2% in Q3, buying 117,956 shares to hold 145,565 shares (about 0.58% ownership) valued at roughly $1.36 million.
• Angel Oak declared a quarterly dividend of $0.32 (annualized $1.28), implying a yield of 15.1% with a payout ratio of 70.72%.
• In the latest quarter AOMR reported EPS of $0.29 (beating by $0.01) and revenue of $16.7M (above estimates); analysts’ consensus is a Hold with a $11.08 price target.

JPMorgan Chase & Co. lifted its position in shares of Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Free Report) by 427.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,565 shares of the company's stock after buying an additional 117,956 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.58% of Angel Oak Mortgage REIT worth $1,364,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AOMR. Strs Ohio purchased a new stake in shares of Angel Oak Mortgage REIT during the first quarter worth about $25,000. BNP Paribas Financial Markets grew its holdings in shares of Angel Oak Mortgage REIT by 343.0% during the second quarter. BNP Paribas Financial Markets now owns 3,929 shares of the company's stock worth $37,000 after buying an additional 3,042 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Angel Oak Mortgage REIT during the third quarter worth about $88,000. Russell Investments Group Ltd. grew its holdings in shares of Angel Oak Mortgage REIT by 249.2% during the second quarter. Russell Investments Group Ltd. now owns 14,005 shares of the company's stock worth $132,000 after buying an additional 9,994 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Angel Oak Mortgage REIT by 34.0% during the third quarter. Algert Global LLC now owns 14,710 shares of the company's stock worth $138,000 after buying an additional 3,730 shares in the last quarter. 80.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AOMR shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Angel Oak Mortgage REIT in a report on Monday, December 29th. JonesTrading reiterated a "buy" rating and set a $10.50 price target on shares of Angel Oak Mortgage REIT in a report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Angel Oak Mortgage REIT has an average rating of "Hold" and a consensus price target of $11.08.

Angel Oak Mortgage REIT Price Performance

AOMR opened at $8.49 on Thursday. The company's 50 day simple moving average is $8.57 and its 200 day simple moving average is $8.84. The company has a debt-to-equity ratio of 7.49, a quick ratio of 10.95 and a current ratio of 10.95. Angel Oak Mortgage REIT Inc. has a 1 year low of $7.36 and a 1 year high of $10.34. The stock has a market capitalization of $211.67 million, a PE ratio of 4.69 and a beta of 1.34.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.01. Angel Oak Mortgage REIT had a net margin of 30.65% and a return on equity of 5.15%. The business had revenue of $16.70 million for the quarter, compared to analysts' expectations of $11.33 million. As a group, sell-side analysts expect that Angel Oak Mortgage REIT Inc. will post 0.03 EPS for the current year.

Angel Oak Mortgage REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 20th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 15.1%. The ex-dividend date of this dividend was Friday, February 20th. Angel Oak Mortgage REIT's payout ratio is 70.72%.

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.

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