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Angel Oak Mortgage REIT, Inc. - AOMR STOCK NEWS

Welcome to our dedicated page for Angel Oak Mortgage REIT news (Ticker: AOMR), a resource for investors and traders seeking the latest updates and insights on Angel Oak Mortgage REIT stock.

Angel Oak Mortgage REIT, Inc. (AOMR) is a prominent real estate finance company specializing in acquiring and investing in first lien non-QM loans alongside other mortgage-related assets within the U.S. mortgage market. The company's primary objective is to generate attractive risk-adjusted returns for its stockholders through cash distributions and capital appreciation, regardless of varying interest rates and credit cycles.

Core Business:
Angel Oak Mortgage REIT focuses on first lien non-qualified mortgage (non-QM) loans, which offer unique flexibility compared to traditional agency-conforming loans. They cater to borrowers who do not fit standard agency guidelines but possess loan profiles that make financial sense.

Recent Achievements:
In 2024, the company executed its first standalone securitization of the year, AOMT 2024-4, a $300 million securitization backed by a pool of residential mortgage loans. This initiative lowered the weighted average funding cost for the underlying loans by over 100 basis points and released nearly $40 million in capital.

Current Projects:
Angel Oak Mortgage REIT currently participates in various securitizations to optimize its funding costs and enhance its portfolio's performance. The company is also actively involved in purchasing high-quality, current market coupon loans, which are expected to drive further growth in net interest margins.

Financial Condition:
As of the first quarter of 2024, Angel Oak Mortgage REIT reported GAAP net income of $12.9 million, or $0.51 per diluted share, and distributable earnings of $2.8 million, or $0.11 per diluted share. The company's GAAP book value increased to $10.55 per share while the economic book value rose to $13.78 per share.

Partnerships:
The company is externally managed and advised by an affiliate of Angel Oak Capital Advisors, LLC, a leading alternative credit manager with a vertically integrated mortgage origination platform. This partnership ensures that Angel Oak Mortgage REIT benefits from extensive expertise and strategic guidance in the mortgage market.

Products and Services:
Angel Oak Mortgage REIT offers a range of non-QM loan products that include owner-occupied, non-owner-occupied, non-traditional income, foreign nationals, full documentation, and cash flow income investment properties. Their product offerings are available in over 35 states, providing extensive coverage and flexibility to their clients.

For more information, visit the company's official website at www.angeloakreit.com.

Rhea-AI Summary

Angel Oak Mortgage REIT (NYSE: AOMR) has priced a $50 million public offering of 9.500% Senior Notes due 2029. The notes will be guaranteed by Angel Oak Mortgage Operating Partnership, LP and issued in $25.00 denominations. Proceeds will be used for general corporate purposes, including acquiring non-qualified residential mortgage loans, and to repurchase approximately $20 million of common stock from Xylem Finance The offering, expected to close on July 25, 2024, is led by RBC Capital Markets, UBS Securities, Wells Fargo Securities, and Piper Sandler as joint book-running managers. AOMR plans to list the notes on the NYSE under the symbol 'AOMN'.

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Angel Oak Mortgage REIT (NYSE: AOMR) has announced a public offering of senior notes due 2029. The notes will be guaranteed by Angel Oak Mortgage Operating Partnership, LP. The company plans to use the majority of the proceeds for general corporate purposes, including acquiring non-qualified residential mortgage loans and other target assets. Additionally, $5.0 million to $20.0 million will be used to repurchase common stock from Xylem Finance , an affiliate of Davidson Kempner Capital Management LP.

RBC Capital Markets, UBS Securities, Wells Fargo Securities, and Piper Sandler & Co. are serving as joint book-running managers, with B. Riley Securities and Janney Montgomery Scott as co-managers. The company intends to list the notes on the NYSE under the symbol 'AOMN'.

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Angel Oak Mortgage REIT, Inc. reported positive financial results for Q1 2024, with GAAP net income of $12.9 million and distributable earnings of $2.8 million. The company's GAAP book value and economic book value per share increased compared to the previous quarter. The AOMT 2024-4 securitization contributed to releasing additional capital for future earnings growth. The company's focus on disciplined loan acquisitions and expense management led to increased shareholder value. The portfolio and investment activity saw a reduction in whole loan warehouse debt and financing costs with a higher weighted average coupon. Capital markets activity showed a total financing capacity of $1.1 billion, providing ample room for new loan purchases. The balance sheet grew, maintaining liquidity and risk management while increasing shareholder value. The dividend of $0.32 per share of common stock signifies the company's commitment to rewarding its shareholders.

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Angel Oak Mortgage REIT, Inc. (NYSE: AOMR) sets the date for its first quarter 2024 earnings release and conference call. The company focuses on acquiring first lien non-QM loans and mortgage-related assets in the U.S. market. The financial results will be disclosed on May 7, 2024, before the market opens, with a conference call scheduled for 8:30 a.m. Eastern Time. Investors can access the webcast on the company's website. The call playback will be available until May 21, 2024.
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Angel Oak Mortgage REIT, Inc. announces the pricing of AOMT 2024-4, a $300 million securitization backed by non-QM loans, expected to drive earnings growth and yield expansion. The deal lowers funding costs by over 100 basis points, releasing $40 million in capital for future loan purchases.
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Angel Oak Mortgage REIT, Inc. (NYSE: AOMR) reported strong financial results for the year ended December 31, 2023, with a GAAP net income of $28.6 million in Q4 2023, a declared dividend of $0.32 per share, and a total GAAP net income of $33.7 million for the year. The Company purchased over $220 million of loans in 2023, securitized over $660 million, and reduced operating costs by 40%. The GAAP book value per share grew by 10.4% in 2023. Sreeni Prabhu, CEO, highlighted the company's growth in net interest margin and operating income, emphasizing a focus on long-term business value.
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Angel Oak Mortgage REIT, Inc. (NYSE: AOMR) will release its fourth quarter and full year 2023 financial results on March 5, 2024. The company focuses on acquiring first lien non-QM loans and mortgage-related assets in the U.S. mortgage market.
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Angel Oak Mortgage REIT, Inc. (NYSE: AOMR) has declared a quarterly cash dividend of $0.32 per share of common stock, payable on February 29th, 2024 to common stockholders of record as of February 22nd, 2024.
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Angel Oak Mortgage REIT, Inc. (NYSE: AOMR) announced tax information regarding its dividend distributions for 2023. During 2023, the Company distributed dividends totaling $1.28 per share of common stock. The table provides information on the expected federal income tax characterization for the Company’s common stock dividend distributions paid in 2023. Shareholders are encouraged to confirm that the tax statements they receive from their brokerage firms align with the information reported in this document and to consult with their tax advisors to determine individual tax implications.
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Angel Oak Mortgage REIT, Inc. (NYSE: AOMR) reported Q3 2023 GAAP net income of $8.3 million and distributable earnings of $(8.6) million. The company declared a dividend of $0.32 per share of common stock, payable on November 30, 2023. AOMR's growth strategy resulted in a 14.8% net interest margin growth and a 12.5% reduction in operating expenses. The weighted average coupon rate of the whole loan portfolio improved to 5.83% as of September 30, 2023. AOMR's balance sheet target assets totaled $2.1 billion as of September 30, 2023.
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FAQ

What does Angel Oak Mortgage REIT, Inc. do?

Angel Oak Mortgage REIT focuses on acquiring and investing in first lien non-QM loans and other mortgage-related assets in the U.S. mortgage market.

What are non-QM loans?

Non-QM loans are non-qualified mortgages that offer unique flexibility compared to traditional agency-conforming loans, catering to borrowers who do not fit standard agency guidelines.

What was the recent achievement of Angel Oak Mortgage REIT?

In 2024, Angel Oak Mortgage REIT executed the AOMT 2024-4 securitization, releasing nearly $40 million in capital and lowering funding costs by over 100 basis points.

What is the company's financial condition as of the first quarter of 2024?

As of Q1 2024, the company reported GAAP net income of $12.9 million, or $0.51 per diluted share, and distributable earnings of $2.8 million, or $0.11 per diluted share.

Who manages and advises Angel Oak Mortgage REIT?

Angel Oak Mortgage REIT is externally managed and advised by an affiliate of Angel Oak Capital Advisors, LLC.

What types of loan products does Angel Oak Mortgage REIT offer?

The company offers non-QM loan products for owner-occupied, non-owner-occupied, non-traditional income, foreign nationals, full documentation, and cash flow income investment properties.

How widespread is the availability of Angel Oak Mortgage REIT's products?

Angel Oak Mortgage REIT's products are available in over 35 states across the U.S.

Where can I find more information about Angel Oak Mortgage REIT?

You can find more information on the company's official website at https://www.angeloakreit.com.

What is the company's approach to generating returns for stockholders?

The company's objective is to generate attractive risk-adjusted returns through cash distributions and capital appreciation across interest rate and credit cycles.

What is the economic book value of the company as of March 31, 2024?

The company's economic book value as of March 31, 2024, is $13.78 per share of common stock.

Angel Oak Mortgage REIT, Inc.

NYSE:AOMR

AOMR Rankings

AOMR Stock Data

307.73M
25.00M
3.69%
81.21%
4.14%
REIT - Mortgage
Real Estate
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United States of America
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