Angel Oak Mortgage REIT Gets Buy Recommendation With 21% Upside

A recent report highlights that Jones Trading has initiated coverage of Angel Oak Mortgage REIT with a Buy recommendation, suggesting a 21.02% upside based on analyst forecasts. While the revenue projected shows a decline, the increase in institutional ownership reflects positive sentiment.

Date: 02-10-2024

AI Rating: 5

Earnings Per Share (EPS): The projected annual non-GAAP EPS for Angel Oak Mortgage REIT is 1.38. This gives insight into profitability, albeit specifics on growth or comparisons to previous periods were not stated.

Revenue Growth: The annual revenue projection for the company is 61MM, indicating a decrease of 11.88%. This negative trend in revenue could be a concern for investors regarding the overall financial health of the company.

Institutional Ownership: The increase of 10 institutional owners (7.94%) in the last quarter and a significant 34.80% increase in total shares owned by institutions to 20,629K shares suggests a growing confidence among institutional investors in Angel Oak Mortgage REIT.

Furthermore, Davidson Kempner Capital Management's steady 31.68% ownership shows confidence in its investment strategy. Masters Capital Management’s increased allocation by 63.62% over the last quarter also indicates bullish sentiment.

Despite the projected revenue decline, the initiation of buy coverage and a positive price target increase could support the stock price in the short term, although potential risks exist due to falling revenue.

Stocks: AOMR