Angel Oak Mortgage REIT (NYSE:AOMR) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen cut shares of Angel Oak Mortgage REIT (NYSE:AOMR) from a hold rating to a sell rating in a research report report published on Saturday.

AOMR has been the subject of several other reports. Zacks Research upgraded shares of Angel Oak Mortgage REIT from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings upgraded shares of Angel Oak Mortgage REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, Jones Trading restated a “buy” rating and issued a $10.50 price objective on shares of Angel Oak Mortgage REIT in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.60.

Angel Oak Mortgage REIT Trading Down 0.2%

NYSE AOMR opened at $8.94 on Friday. The stock has a market cap of $222.83 million, a P/E ratio of 12.60 and a beta of 1.36. Angel Oak Mortgage REIT has a fifty-two week low of $7.36 and a fifty-two week high of $10.88. The stock has a 50 day simple moving average of $9.35 and a two-hundred day simple moving average of $9.44. The company has a debt-to-equity ratio of 6.87, a quick ratio of 6.83 and a current ratio of 6.83.

Angel Oak Mortgage REIT (NYSE:AOMR) last posted its earnings results on Thursday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.26). Angel Oak Mortgage REIT had a net margin of 12.93% and a return on equity of 6.42%. The business had revenue of $28.02 million for the quarter, compared to analysts’ expectations of $10.68 million. On average, analysts forecast that Angel Oak Mortgage REIT will post 0.03 earnings per share for the current year.

Angel Oak Mortgage REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Tuesday, November 18th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.28 annualized dividend and a yield of 14.3%. Angel Oak Mortgage REIT’s payout ratio is presently 180.28%.

Insider Buying and Selling

In other news, major shareholder Davidson Kempner Capital Manag sold 595,000 shares of Angel Oak Mortgage REIT stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $9.75, for a total transaction of $5,801,250.00. Following the completion of the transaction, the insider directly owned 4,134,210 shares in the company, valued at approximately $40,308,547.50. This trade represents a 12.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brandon Filson sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was 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 in the company, valued at $689,372.64. The trade was a 41.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC raised its position in shares of Angel Oak Mortgage REIT by 8.4% in the 3rd quarter. Lazard Asset Management LLC now owns 19,503 shares of the company’s stock worth $183,000 after purchasing an additional 1,509 shares during the last quarter. Virtu Financial LLC bought a new stake in Angel Oak Mortgage REIT during the 3rd quarter valued at about $151,000. Two Sigma Investments LP raised its holdings in Angel Oak Mortgage REIT by 25.1% in the third quarter. Two Sigma Investments LP now owns 140,727 shares of the company’s stock worth $1,319,000 after buying an additional 28,194 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Angel Oak Mortgage REIT by 70.8% in the third quarter. Russell Investments Group Ltd. now owns 23,921 shares of the company’s stock worth $224,000 after buying an additional 9,916 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Angel Oak Mortgage REIT by 256.5% during the third quarter. Victory Capital Management Inc. now owns 1,508,687 shares of the company’s stock valued at $14,136,000 after buying an additional 1,085,507 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors.

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.