Riverbridge Partners LLC Makes New Investment in Angel Oak Mortgage REIT Inc. $AOMR

Key Points

• Riverbridge Partners LLC acquired 81,171 shares of Angel Oak Mortgage REIT Inc., valued at approximately $765,000, during the second quarter.
• The company's recent quarterly dividend of $0.32 reflects an annualized amount of $1.28 and a yield of 13.5%, with a payout ratio of 83.12%.
• Angel Oak Mortgage REIT has a consensus rating of "Moderate Buy" among analysts, with a current price target averaging $11.60.

Riverbridge Partners LLC bought a new position in shares of Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 81,171 shares of the company's stock, valued at approximately $765,000. Riverbridge Partners LLC owned 0.35% of Angel Oak Mortgage REIT at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Angel Oak Mortgage REIT during the first quarter valued at approximately $25,000. Public Employees Retirement System of Ohio raised its position in shares of Angel Oak Mortgage REIT by 55.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 6,465 shares of the company's stock valued at $60,000 after buying an additional 2,300 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Angel Oak Mortgage REIT in the fourth quarter valued at $76,000. M&T Bank Corp purchased a new position in shares of Angel Oak Mortgage REIT in the first quarter valued at $110,000. Finally, State of Wyoming purchased a new position in shares of Angel Oak Mortgage REIT in the first quarter valued at $116,000. Institutional investors own 80.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jones Trading reaffirmed a "buy" rating and set a $10.50 price objective on shares of Angel Oak Mortgage REIT in a research note on Tuesday, August 5th. 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 9th. UBS Group set a $10.50 price objective on shares of Angel Oak Mortgage REIT and gave the stock a "neutral" rating in a research note on Thursday, July 10th. Finally, Zacks Research raised shares of Angel Oak Mortgage REIT from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Angel Oak Mortgage REIT currently has a consensus rating of "Moderate Buy" and an average price target of $11.60.

Angel Oak Mortgage REIT Stock Down 1.0%

Shares of AOMR opened at $9.46 on Friday. The firm has a market capitalization of $224.77 million, a P/E ratio of 6.14 and a beta of 1.38. Angel Oak Mortgage REIT Inc. has a 12-month low of $7.36 and a 12-month high of $10.88. The company has a current ratio of 17.69, a quick ratio of 17.69 and a debt-to-equity ratio of 7.53. The firm has a fifty day moving average price of $9.59 and a 200-day moving average price of $9.34.

Angel Oak Mortgage REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 22nd were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 13.5%. The ex-dividend date was Friday, August 22nd. Angel Oak Mortgage REIT's payout ratio is presently 83.12%.

Insider Activity

In related news, major shareholder Davidson Kempner Capital Manag sold 595,000 shares of Angel Oak Mortgage REIT stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $9.75, for a total value of $5,801,250.00. Following the completion of the sale, the insider directly owned 4,134,210 shares in the company, valued at $40,308,547.50. The trade was a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brandon Filson sold 50,000 shares of Angel Oak Mortgage REIT stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $9.78, for a total value of $489,000.00. Following the completion of the sale, the chief financial officer owned 70,488 shares of the company's stock, valued at $689,372.64. The trade was a 41.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.90% of the company's stock.

About Angel Oak Mortgage REIT

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.