Angel Oak Mortgage REIT (NYSE:AOMR) Now Covered by Janney Montgomery Scott

Janney Montgomery Scott began coverage on shares of Angel Oak Mortgage REIT (NYSE:AOMR) in a research note published on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $13.00 target price on the stock.

Separately, Wells Fargo & Company cut their price target on shares of Angel Oak Mortgage REIT from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.20.

Angel Oak Mortgage REIT Price Performance

Angel Oak Mortgage REIT stock opened at $9.53 on Thursday. The business’s 50-day simple moving average is $9.43 and its 200 day simple moving average is $10.63. The company has a quick ratio of 5.76, a current ratio of 5.76 and a debt-to-equity ratio of 5.29. The stock has a market cap of $224.06 million, a price-to-earnings ratio of 3.24 and a beta of 1.46. Angel Oak Mortgage REIT has a 12-month low of $8.88 and a 12-month high of $13.31.

Angel Oak Mortgage REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.28 annualized dividend and a yield of 13.43%. Angel Oak Mortgage REIT’s payout ratio is currently 43.54%.

Insiders Place Their Bets

In related news, Director W D. Minami acquired 5,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were bought at an average cost of $9.73 per share, with a total value of $48,650.00. Following the completion of the transaction, the director now directly owns 45,259 shares of the company’s stock, valued at $440,370.07. This trade represents a 12.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Angel Oak Mortgage REIT

A number of hedge funds have recently added to or reduced their stakes in AOMR. Jacobs Levy Equity Management Inc. acquired a new position in Angel Oak Mortgage REIT in the 3rd quarter worth about $1,515,000. Jacobs Asset Management LLC acquired a new stake in Angel Oak Mortgage REIT in the third quarter worth $975,000. Wolverine Asset Management LLC bought a new stake in Angel Oak Mortgage REIT in the 3rd quarter valued at about $616,000. Jane Street Group LLC increased its holdings in shares of Angel Oak Mortgage REIT by 256.2% during the third quarter. Jane Street Group LLC now owns 46,293 shares of the company’s stock valued at $483,000 after acquiring an additional 33,297 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Angel Oak Mortgage REIT by 285.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,201 shares of the company’s stock valued at $284,000 after purchasing an additional 20,142 shares in the last quarter. Institutional investors own 80.15% of the company’s stock.

Angel Oak Mortgage REIT Company Profile

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.