Wells Fargo & Company Issues Pessimistic Forecast for Angel Oak Mortgage REIT (NYSE:AOMR) Stock Price

by · The Markets Daily

Angel Oak Mortgage REIT (NYSE:AOMR – Get Free Report) had its price target decreased by stock analysts at Wells Fargo & Company from $10.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 34.54% from the stock’s current price.

A number of other equities analysts have also commented on the stock. JonesTrading dropped their price target on shares of Angel Oak Mortgage REIT from $10.50 to $9.50 and set a “buy” rating on the stock in a research report on Tuesday. BTIG Research decreased their price objective on shares of Angel Oak Mortgage REIT from $10.00 to $9.00 and set a “buy” rating for the company in a 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 upgraded 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 dropped their target price on shares of Angel Oak Mortgage REIT from $13.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Angel Oak Mortgage REIT presently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Read Our Latest Research Report on Angel Oak Mortgage REIT

Angel Oak Mortgage REIT Stock Down 3.6%

Shares of AOMR traded down $0.22 during trading hours on Thursday, hitting $5.95. 167,307 shares of the company were exchanged, compared to its average volume of 99,459. The company has a market cap of $138.07 million, a PE ratio of -13.83 and a beta of 1.30. The firm’s 50 day moving average is $7.49 and its 200-day moving average is $8.39. Angel Oak Mortgage REIT has a 52 week low of $5.94 and a 52 week high of $9.30. The company has a debt-to-equity ratio of 8.76, a quick ratio of 7.16 and a current ratio of 7.16.

Angel Oak Mortgage REIT (NYSE:AOMR – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of ($10.63) million during the quarter, compared to analyst estimates of $11.39 million. Angel Oak Mortgage REIT had a return on equity of 7.74% and a net margin of 11.85%. On average, equities research analysts forecast that Angel Oak Mortgage REIT will post 1.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brandon Filson sold 65,000 shares of the firm’s stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $7.93, for a total value of $515,450.00. Following the sale, the chief financial officer owned 107,815 shares in the company, valued at approximately $854,972.95. This trade represents a 37.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director W D. Minami bought 6,800 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were bought at an average cost of $8.10 per share, for a total transaction of $55,080.00. Following the transaction, the director directly owned 87,118 shares of the company’s stock, valued at $705,655.80. This trade represents a 8.47% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 52,926 shares of company stock valued at $391,997 in the last three months. 2.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Angel Oak Mortgage REIT in the 2nd quarter worth $12,210,000. North Ground Capital bought a new position in shares of Angel Oak Mortgage REIT during the 2nd quarter worth about $1,492,471. Jacobs Asset Management LLC raised its position in shares of 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 during the last quarter. Deutsche Bank AG acquired a new position in shares of Angel Oak Mortgage REIT during the second quarter valued at about $141,000. Finally, Odyssean LLC raised its position in shares of Angel Oak Mortgage REIT by 317.6% during the second quarter. Odyssean LLC now owns 41,791 shares of the company’s stock valued at $379,000 after buying an additional 31,783 shares during the last quarter. 80.15% of the stock is currently owned by institutional investors and hedge funds.

About Angel Oak Mortgage REIT

(Get Free Report)

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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