Insider Buying: Angel Oak Mortgage REIT (NYSE:AOMR) Director Purchases 38,726 Shares of Company Stock

by · The Markets Daily

Angel Oak Mortgage REIT Inc. (NYSE:AOMR – Get Free Report) Director Michael Fierman acquired 38,726 shares of the business’s stock in a transaction on Friday, September 25th. The shares were purchased at an average cost of $7.50 per share, for a total transaction of $290,445.00. Following the completion of the acquisition, the director directly owned 105,247 shares in the company, valued at approximately $789,352.50. The trade was a 58.22% increase 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.

Angel Oak Mortgage REIT Stock Down 2.3%

Shares of NYSE AOMR traded down $0.17 during trading on Monday, hitting $7.38. The stock had a trading volume of 131,683 shares, compared to its average volume of 117,895. The firm has a fifty day moving average of $8.50 and a two-hundred day moving average of $8.56. The company has a market capitalization of $171.29 million, a PE ratio of 9.84 and a beta of 1.26. The company has a debt-to-equity ratio of 8.76, a current ratio of 7.16 and a quick ratio of 7.16. Angel Oak Mortgage REIT Inc. has a 12 month low of $7.34 and a 12 month high of $9.60.

Angel Oak Mortgage REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 21st were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 21st. This represents a $1.28 annualized dividend and a yield of 17.4%. Angel Oak Mortgage REIT’s payout ratio is 170.67%.

Institutional Trading of Angel Oak Mortgage REIT

Several hedge funds have recently added to or reduced their stakes in AOMR. Public Employees Retirement System of Ohio bought a new position in shares of Angel Oak Mortgage REIT during the 2nd quarter valued at approximately $58,000. Odyssean LLC increased its stake in shares of Angel Oak Mortgage REIT by 317.6% during the 2nd quarter. Odyssean LLC now owns 41,791 shares of the company’s stock worth $379,000 after purchasing an additional 31,783 shares during the last quarter. North Ground Capital bought a new stake in shares of Angel Oak Mortgage REIT in the 2nd quarter worth approximately $1,492,471. BlackRock Inc. bought a new stake in shares of Angel Oak Mortgage REIT in the 2nd quarter worth approximately $12,210,000. Finally, Deutsche Bank AG bought a new stake in shares of Angel Oak Mortgage REIT in the 2nd quarter worth approximately $141,000. Institutional investors own 80.15% of the company’s stock.

Analysts Set New Price Targets

AOMR has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on shares of Angel Oak Mortgage REIT from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Wall Street Zen upgraded Angel Oak Mortgage REIT from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised Angel Oak Mortgage REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. JonesTrading reaffirmed a “buy” rating and set a $10.50 price target on shares of Angel Oak Mortgage REIT in a research report on Tuesday, August 4th. Finally, BTIG Research dropped their price target on Angel Oak Mortgage REIT from $13.50 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Angel Oak Mortgage REIT presently has a consensus rating of “Moderate Buy” and an average target price of $10.06.

Read Our Latest Analysis on Angel Oak Mortgage REIT

About Angel Oak Mortgage REIT

(Get Free Report)

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

Its portfolio may include first-lien residential mortgage loans secured by properties in the United States, as well as residential mortgage-backed securities and other assets related to the housing finance market.

Recommended Stories