North Ground Capital Purchases New Position in Angel Oak Mortgage REIT Inc. $AOMR

Key Points

• North Ground Capital acquired 164,369 shares of Angel Oak Mortgage REIT in the second quarter, worth approximately $1.49 million and representing a 0.71% stake. Institutional investors collectively own 80.15% of the company.
• Angel Oak Mortgage REIT declared a quarterly dividend of $0.32 per share, equivalent to $1.28 annually and a 15.5% yield, although its payout ratio is elevated at 170.67%.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and a $10.06 price target, compared with the stock’s reported price of $8.25.

North Ground Capital purchased a new position in Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 164,369 shares of the company's stock, valued at approximately $1,492,471,000. Angel Oak Mortgage REIT accounts for about 1.8% of North Ground Capital's investment portfolio, making the stock its 19th biggest holding. North Ground Capital owned 0.71% of Angel Oak Mortgage REIT at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Strs Ohio acquired a new stake in Angel Oak Mortgage REIT in the first quarter valued at approximately $25,000. Kemnay Advisory Services Inc. acquired a new position in shares of Angel Oak Mortgage REIT during the 4th quarter worth approximately $26,000. Royal Bank of Canada raised its stake in shares of Angel Oak Mortgage REIT by 94.0% during 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 during the period. BNP Paribas Financial Markets lifted its position in shares of Angel Oak Mortgage REIT by 343.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,929 shares of the company's stock valued at $37,000 after buying an additional 3,042 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Angel Oak Mortgage REIT during the 4th quarter valued at approximately $87,000. Hedge funds and other institutional investors own 80.15% of the company's stock.

Angel Oak Mortgage REIT Stock Performance

NYSE AOMR opened at $8.25 on Monday. The company has a debt-to-equity ratio of 8.76, a current ratio of 7.16 and a quick ratio of 7.16. The stock's 50 day simple moving average is $8.87 and its 200-day simple moving average is $8.68. The company has a market cap of $191.56 million, a PE ratio of 11.00 and a beta of 1.25. Angel Oak Mortgage REIT Inc. has a 1-year low of $7.95 and a 1-year high of $10.14.

Angel Oak Mortgage REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 21st will be issued a $0.32 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.28 dividend on an annualized basis and a yield of 15.5%. Angel Oak Mortgage REIT's dividend payout ratio (DPR) is presently 170.67%.

Analysts Set New Price Targets

Several equities research analysts recently commented on AOMR shares. BTIG Research cut 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. JonesTrading reaffirmed a "buy" rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a report on Tuesday, August 4th. Wells Fargo & Company dropped their target price on shares of Angel Oak Mortgage REIT from $11.00 to $10.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Angel Oak Mortgage REIT from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Angel Oak Mortgage REIT from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.06.

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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