Angel Oak Mortgage REIT (NYSE:AOMR) Given New $10.00 Price Target at BTIG Research

Angel Oak Mortgage REIT (NYSE:AOMR) had its price target reduced by equities researchers at BTIG Research from $13.50 to $10.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s target price indicates a potential upside of 17.66% from the stock’s current price.

Several other research analysts also recently commented on AOMR. JonesTrading restated a “buy” rating and issued a $10.50 target price on shares of Angel Oak Mortgage REIT in a research note on Thursday, February 26th. Weiss Ratings cut Angel Oak Mortgage REIT from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Angel Oak Mortgage REIT presently has a consensus rating of “Hold” and an average target price of $10.08.

Angel Oak Mortgage REIT Stock Up 2.5%

Shares of NYSE AOMR opened at $8.50 on Wednesday. The business’s fifty day moving average price is $8.57 and its 200-day moving average price is $8.66. Angel Oak Mortgage REIT has a one year low of $7.95 and a one year high of $10.14. The stock has a market capitalization of $211.80 million, a PE ratio of 13.28 and a beta of 1.28. The company has a debt-to-equity ratio of 8.44, a current ratio of 13.09 and a quick ratio of 13.09.

Angel Oak Mortgage REIT (NYSE:AOMR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Angel Oak Mortgage REIT had a return on equity of 5.25% and a net margin of 10.64%.The company had revenue of ($2.20) million for the quarter, compared to analysts’ expectations of $11.14 million. On average, equities research analysts anticipate that Angel Oak Mortgage REIT will post 1.17 EPS for the current year.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

A number of large investors have recently made changes to their positions in AOMR. Goldman Sachs Group Inc. grew its position in shares of Angel Oak Mortgage REIT by 83.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 159,374 shares of the company’s stock worth $1,519,000 after buying an additional 72,555 shares during the last quarter. Jane Street Group LLC grew its position in shares of Angel Oak Mortgage REIT by 23.6% in the 1st quarter. Jane Street Group LLC now owns 47,219 shares of the company’s stock worth $450,000 after buying an additional 9,012 shares during the last quarter. Strs Ohio bought a new stake in shares of Angel Oak Mortgage REIT in the 1st quarter worth approximately $25,000. Geode Capital Management LLC boosted its position in shares of Angel Oak Mortgage REIT by 1.7% during the second quarter. Geode Capital Management LLC now owns 321,084 shares of the company’s stock valued at $3,025,000 after purchasing an additional 5,312 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Angel Oak Mortgage REIT by 80.5% during the second quarter. Rhumbline Advisers now owns 33,998 shares of the company’s stock valued at $320,000 after purchasing an additional 15,162 shares in the last quarter. 80.15% of the stock is currently owned by institutional investors.

Angel Oak Mortgage REIT Company Profile

Angel Oak Mortgage REIT, Inc (NYSE: AOMR) is a real estate investment trust that specializes in a diversified portfolio of residential mortgage assets. The company primarily invests in non-agency residential mortgage-backed securities (RMBS), residential whole loans and credit risk transfer securities issued by government-sponsored enterprises. By focusing on these structured credit instruments, Angel Oak Mortgage REIT seeks to generate attractive risk-adjusted returns through a combination of net interest income and potential capital appreciation.

The firm employs leverage through repurchase financing facilities and actively manages duration and credit exposure to adapt to changing market conditions.