Angel Oak Mortgage REIT (NYSE:AOMR) Director Landon Parsons Purchases 7,400 Shares of Stock

Key Points

• Director Landon Parsons bought 7,400 shares at an average $6.28 each, investing $46,472 and increasing his stake by 14.85% to 57,232 shares.
• Angel Oak reported quarterly EPS of $0.28, below the $0.32 consensus, and revenue of negative $10.63 million versus analyst estimates of $11.39 million. Shares closed at $6.19, near their 52-week low of $6.10.
• The company declared a quarterly dividend of $0.32 per share, equivalent to a 20.7% annualized yield; its payout ratio is 170.67%. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $9.25.

Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Get Free Report) Director Landon Parsons purchased 7,400 shares of the firm's stock in a transaction on Thursday, November 5th. The stock was acquired at an average price of $6.28 per share, for a total transaction of $46,472.00. Following the transaction, the director owned 57,232 shares of the company's stock, valued at $359,416.96. The trade was a 14.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Angel Oak Mortgage REIT Price Performance

Shares of NYSE:AOMR traded down $0.27 on Thursday, reaching $6.19. 132,809 shares of the company traded hands, compared to its average volume of 119,348. The stock has a market capitalization of $143.69 million, a PE ratio of -14.39 and a beta of 1.30. 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 company's 50 day moving average is $7.58 and its 200-day moving average is $8.42. Angel Oak Mortgage REIT Inc. has a fifty-two week low of $6.10 and a fifty-two week high of $9.48.

Angel Oak Mortgage REIT (NYSE:AOMR - Get Free Report) last announced its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.32 by ($0.04). Angel Oak Mortgage REIT had a positive return on equity of 10.12% and a negative net margin of 5.74%. The company had revenue of ($10.63) million for the quarter, compared to analyst estimates of $11.39 million. As a group, analysts anticipate that Angel Oak Mortgage REIT Inc. will post 1.14 earnings per share for the current fiscal year.

Angel Oak Mortgage REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 20.7%. Angel Oak Mortgage REIT's dividend payout ratio is currently 170.67%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AOMR. Wells Fargo & Company dropped their target price on shares of Angel Oak Mortgage REIT from $10.00 to $8.00 and set an "overweight" rating on the stock in a research report on Thursday. BTIG Research reduced their price target on shares of Angel Oak Mortgage REIT from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Tuesday, October 6th. Weiss Ratings lowered shares of Angel Oak Mortgage REIT from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday. 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. Finally, B. Riley Financial lowered their price objective on shares of Angel Oak Mortgage REIT from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Angel Oak Mortgage REIT has a consensus rating of "Moderate Buy" and an average target price of $9.25.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Angel Oak Mortgage REIT in the 2nd quarter worth approximately $12,210,000. Jacobs Asset Management LLC raised its holdings in Angel Oak Mortgage REIT by 30.4% during the first quarter. Jacobs Asset Management LLC now owns 375,000 shares of the company's stock valued at $3,082,000 after buying an additional 87,500 shares in the last quarter. Riverbridge Partners LLC raised its holdings in Angel Oak Mortgage REIT by 9.4% during the third quarter. Riverbridge Partners LLC now owns 217,721 shares of the company's stock valued at $1,589,000 after buying an additional 18,643 shares in the last quarter. North Ground Capital acquired a new stake in shares of Angel Oak Mortgage REIT in the second quarter worth about $1,492,471. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Angel Oak Mortgage REIT in the second quarter worth about $485,000. 80.15% of the stock is owned by hedge funds and other institutional investors.

About Angel Oak Mortgage REIT

Angel Oak Mortgage REIT, Inc is a real estate investment trust focused on investing in residential mortgage assets. The company primarily targets non-qualified mortgage loans, or non-QM loans, which are residential mortgages made to creditworthy borrowers whose financial profiles may not fit traditional agency underwriting standards.

Its investment portfolio may also include residential mortgage-backed securities and other mortgage-related assets. Angel Oak Mortgage REIT seeks to generate income through interest payments and other returns from these investments, with an emphasis on loans secured by residential properties in the United States.

Angel Oak Mortgage REIT is externally managed by Angel Oak Capital Advisors, an investment management firm specializing in mortgage credit and related strategies.

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