B. Riley upgraded Angel Oak Mortgage REIT (AOMR) to Buy from Neutral with an unchanged price target of $12. The firm says the stock’s dividend yield of 16%, plus its implied 52% return to target, sets up a favorable risk/reward profile. Riley forecasts another good quarter of net interest income generation from Angel Oak. The company’s portfolio has prepayment and refinance “protection” as mortgage rates in the underlying portfolio are weighted towards higher coupons, the analyst tells investors in a research note. The firm views residential mortgage as among the better credit risk areas.
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Read More on AOMR:
- Angel Oak Mortgage REIT upgraded to Buy from Neutral at B. Riley
- Angel Oak Mortgage Partners with Brookfield Asset Management
- Angel Oak Mortgage REIT price target lowered to $11 from $12 at Wells Fargo
- Buy Rating Justified for Angel Oak Mortgage Amid Strong Operational Performance and Attractive Valuation
- Angel Oak Mortgage REIT Reports 2024 Financial Results
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