Janney Montgomery Scott Initiates Coverage on Angel Oak Mortgage REIT (NYSE:AOMR)

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

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

Angel Oak Mortgage REIT Stock Up 0.4 %

AOMR opened at $9.32 on Thursday. The firm has a market cap of $219.12 million, a P/E ratio of 3.17 and a beta of 1.46. The company has a debt-to-equity ratio of 5.29, a quick ratio of 5.76 and a current ratio of 5.76. The business has a 50 day moving average price of $9.43 and a 200 day moving average price of $10.66. Angel Oak Mortgage REIT has a twelve month low of $8.88 and a twelve month high of $13.31.

Angel Oak Mortgage REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.32 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 13.73%. Angel Oak Mortgage REIT’s dividend payout ratio (DPR) is presently 43.54%.

Insider Activity

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 price of $9.73 per share, for a total transaction of $48,650.00. Following the acquisition, the director now owns 45,259 shares in the company, valued at $440,370.07. This trade represents a 12.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Angel Oak Mortgage REIT

A number of institutional investors have recently added to or reduced their stakes in the company. National Bank of Canada FI acquired a new position in Angel Oak Mortgage REIT in the 3rd quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Angel Oak Mortgage REIT during the third quarter valued at approximately $40,000. Public Employees Retirement System of Ohio bought a new stake in shares of Angel Oak Mortgage REIT during the third quarter valued at approximately $43,000. Barclays PLC raised its stake in shares of Angel Oak Mortgage REIT by 294.4% in the third quarter. Barclays PLC now owns 15,813 shares of the company’s stock valued at $165,000 after purchasing an additional 11,804 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Angel Oak Mortgage REIT by 21.2% in the second quarter. Renaissance Technologies LLC now owns 25,200 shares of the company’s stock worth $330,000 after purchasing an additional 4,400 shares during the period. 80.15% of the stock is 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.