Key Points
- Director Michael Fierman bought 38,726 shares of Angel Oak Mortgage REIT at $7.50 each, investing $290,445 and increasing his ownership by 58.22% to 105,247 shares.
- Angel Oak shares opened at $7.38, near their 12-month low, while the company’s $0.32 quarterly dividend implies a 17.4% annualized yield—though its payout ratio is elevated at 170.67%.
- Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $10.06 target price; institutional investors own 80.15% of the stock.
Angel Oak Mortgage REIT Inc. (NYSE:AOMR - Get Free Report) Director Michael Fierman purchased 38,726 shares of the firm's stock in a transaction dated Friday, September 25th. The shares were bought at an average price of $7.50 per share, for a total transaction of $290,445.00. Following the completion of the transaction, the director owned 105,247 shares of the company's stock, valued at approximately $789,352.50. This trade represents a 58.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
Angel Oak Mortgage REIT Trading Down 2.3%
Shares of Angel Oak Mortgage REIT stock opened at $7.38 on Tuesday. The company's 50-day moving average price is $8.47 and its 200-day moving average price is $8.55. The company has a current ratio of 7.16, a quick ratio of 7.16 and a debt-to-equity ratio of 8.76. Angel Oak Mortgage REIT Inc. has a 12-month low of $7.34 and a 12-month high of $9.60. The company has a market cap of $171.29 million, a price-to-earnings ratio of 9.84 and a beta of 1.26.
Angel Oak Mortgage REIT Announces Dividend
The company also recently announced 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. This represents a $1.28 dividend on an annualized basis and a yield of 17.4%. The ex-dividend date of this dividend was Friday, August 21st. Angel Oak Mortgage REIT's dividend payout ratio is 170.67%.
Hedge Funds Weigh In On Angel Oak Mortgage REIT
Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Angel Oak Mortgage REIT in the second quarter worth $12,210,000. Jacobs Asset Management LLC increased its position in Angel Oak Mortgage REIT by 30.4% during the 1st quarter. Jacobs Asset Management LLC now owns 375,000 shares of the company's stock valued at $3,082,000 after purchasing an additional 87,500 shares during the period. Riverbridge Partners LLC increased its position in Angel Oak Mortgage REIT by 8.0% during the 1st quarter. Riverbridge Partners LLC now owns 197,392 shares of the company's stock valued at $1,623,000 after purchasing an additional 14,622 shares during the period. North Ground Capital purchased a new position in Angel Oak Mortgage REIT during the 2nd quarter valued at $1,492,471. Finally, Bank of New York Mellon Corp bought a new position in Angel Oak Mortgage REIT in the 2nd quarter worth $485,000. 80.15% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on AOMR. BTIG Research reduced their price target on shares of Angel Oak Mortgage REIT from $13.50 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, June 17th. JonesTrading restated a "buy" rating and set a $10.50 target price on shares of Angel Oak Mortgage REIT in a research report on Tuesday, August 4th. Weiss Ratings upgraded Angel Oak Mortgage REIT from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. 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, Wells Fargo & Company decreased their price target on shares of Angel Oak Mortgage REIT from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $10.06.
View Our Latest Analysis on AOMR
Angel Oak Mortgage REIT Company Profile
(
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.
Further Reading
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