Angel Oak Mortgage REIT (NYSE:AOMR) Posts Earnings Results, Misses Expectations By $0.26 EPS

Angel Oak Mortgage REIT (NYSE:AOMR) issued its earnings results on Thursday. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.26), FiscalAI reports. Angel Oak Mortgage REIT had a net margin of 12.93% and a return on equity of 6.55%. The firm had revenue of $28.02 million during the quarter, compared to analyst estimates of $10.68 million.

Angel Oak Mortgage REIT Trading Down 0.4%

Shares of Angel Oak Mortgage REIT stock opened at $9.03 on Friday. The company has a quick ratio of 17.69, a current ratio of 17.69 and a debt-to-equity ratio of 7.53. The firm has a market cap of $214.43 million, a price-to-earnings ratio of 12.71 and a beta of 1.36. Angel Oak Mortgage REIT has a 52-week low of $7.36 and a 52-week high of $10.88. The company’s 50-day simple moving average is $9.44 and its 200-day simple moving average is $9.43.

Angel Oak Mortgage REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.28 annualized dividend and a dividend yield of 14.2%. Angel Oak Mortgage REIT’s payout ratio is presently 83.12%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Jones Trading reiterated a “buy” rating and set a $10.50 target price on shares of Angel Oak Mortgage REIT in a research note on Tuesday, 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 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Angel Oak Mortgage REIT in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Angel Oak Mortgage REIT from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Angel Oak Mortgage REIT currently has an average rating of “Moderate Buy” and an average target price of $11.60.

Insider Activity

In other Angel Oak Mortgage REIT news, major shareholder Davidson Kempner Capital Manag sold 595,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $9.75, for a total value of $5,801,250.00. Following the transaction, the insider directly owned 4,134,210 shares in the company, valued at approximately $40,308,547.50. This represents a 12.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brandon Filson sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $9.78, for a total transaction of $489,000.00. Following the sale, the chief financial officer directly owned 70,488 shares in the company, valued at $689,372.64. This represents a 41.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.90% of the company’s stock.

Institutional Trading of Angel Oak Mortgage REIT

Several large investors have recently added to or reduced their stakes in AOMR. Strs Ohio acquired a new position in shares of Angel Oak Mortgage REIT during the first quarter worth about $25,000. BNP Paribas Financial Markets lifted its position in Angel Oak Mortgage REIT by 343.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,929 shares of the company’s stock worth $37,000 after acquiring an additional 3,042 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Angel Oak Mortgage REIT by 249.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 14,005 shares of the company’s stock worth $132,000 after acquiring an additional 9,994 shares during the period. Invesco Ltd. boosted its holdings in Angel Oak Mortgage REIT by 32.6% in the 2nd quarter. Invesco Ltd. now owns 23,225 shares of the company’s stock worth $219,000 after acquiring an additional 5,711 shares during the period. Finally, Bank of America Corp DE grew its position in Angel Oak Mortgage REIT by 253.0% in the second quarter. Bank of America Corp DE now owns 24,516 shares of the company’s stock valued at $231,000 after acquiring an additional 17,571 shares in the last quarter. 80.15% of the stock is currently owned by institutional investors and hedge funds.

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.