Angel Oak Mortgage REIT (NYSE:AOMR) Rating Lowered to Strong Sell at Zacks Research

Angel Oak Mortgage REIT (NYSE:AOMR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

AOMR has been the subject of a number of other reports. Weiss Ratings lowered shares of Angel Oak Mortgage REIT from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, November 3rd. B. Riley Financial dropped their price objective on Angel Oak Mortgage REIT from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Wednesday, November 4th. JonesTrading cut their target price on Angel Oak Mortgage REIT from $10.50 to $9.50 and set a “buy” rating for the company in a research report on Tuesday, November 3rd. Wall Street Zen raised Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, BTIG Research lowered their price target on Angel Oak Mortgage REIT from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.25.

Angel Oak Mortgage REIT Stock Performance

NYSE:AOMR opened at $6.20 on Monday. The company has a debt-to-equity ratio of 10.53, a quick ratio of 10.21 and a current ratio of 10.21. The stock has a 50-day simple moving average of $7.40 and a two-hundred day simple moving average of $8.36. The firm has a market capitalization of $145.17 million, a PE ratio of -14.43 and a beta of 1.30. Angel Oak Mortgage REIT has a 52-week low of $5.94 and a 52-week high of $9.30.

Angel Oak Mortgage REIT (NYSE:AOMR) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.04). The company had revenue of ($10.63) million for the quarter, compared to analysts’ expectations of $11.39 million. Angel Oak Mortgage REIT had a negative net margin of 5.74% and a positive return on equity of 10.57%. Analysts forecast that Angel Oak Mortgage REIT will post 1.14 EPS for the current year.

Insider Transactions at Angel Oak Mortgage REIT

In other news, Director Landon Parsons bought 7,400 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average cost of $6.28 per share, for a total transaction of $46,472.00. Following the completion of the transaction, the director owned 57,232 shares of the company’s stock, valued at approximately $359,416.96. This represents a 14.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael Fierman purchased 38,726 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The shares were purchased at an average cost of $7.50 per share, with a total value of $290,445.00. Following the completion of the purchase, the director owned 105,247 shares of the company’s stock, valued at $789,352.50. The trade was a 58.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 52,926 shares of company stock valued at $391,997. 2.90% of the stock is owned by company insiders.

Institutional Trading of Angel Oak Mortgage REIT

Several hedge funds have recently modified their holdings of AOMR. Royal Bank of Canada boosted its position 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 valued at $33,000 after acquiring an additional 1,968 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Angel Oak Mortgage REIT in the second quarter valued at $58,000. Bank of America Corp DE increased its position in Angel Oak Mortgage REIT by 23.1% in the first quarter. Bank of America Corp DE now owns 11,490 shares of the company’s stock worth $94,000 after purchasing an additional 2,155 shares during the last quarter. Deutsche Bank AG bought a new stake in Angel Oak Mortgage REIT in the second quarter worth $141,000. Finally, State of Wyoming purchased a new stake in Angel Oak Mortgage REIT during the second quarter valued at $213,000. 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.