Angel Oak Mortgage REIT price target lowered to $10 from $10.50 at UBS

UBS lowered the firm’s price target on Angel Oak Mortgage REIT (AOMR) to $10 from $10.50 and keeps a Neutral rating on the shares. Agency MBS spreads have narrowed to levels below long-term averages, leading UBS to view the risk-reward as balanced for both spreads and book value performance, the analyst tells investors in a research note. Credit-focused mREITs, however, trade at more attractive valuations and offer greater long-term book value upside.