Angel Oak Mortgage REIT Inc Stock Price, News & Analysis

Angel Oak Mortgage REIT (NYSE: AOMR) has completed a $317 million standalone securitization named AOMT 2024-10, backed by a pool of 661 non-QM residential mortgage loans. This move demonstrates the company's ability to quickly deploy capital into accretive investments, covering the cost of its July senior unsecured notes issuance within one quarter.

Key highlights of the securitization include:

• Weighted average loan coupon of 7.79%
• Weighted average original loan-to-value ratio of 70.3%
• Weighted average original FICO score of 754
• Senior tranche received AAA rating from Fitch Ratings

The deal lowers the weighted average funding cost for the underlying loans by over 110 basis points and reduces the company's whole loan warehouse debt by $260 million. AOMR plans to recycle the released capital into newly originated, high-quality non-QM loans to drive compounded balance sheet growth and net interest margin accretion.

Angel Oak Mortgage REIT (NYSE: AOMR) reported its Q2 2024 financial results, highlighting a 47% increase in net interest income to $9.5 million compared to Q2 2023. The company's GAAP net loss was ($0.3) million, or ($0.01) per diluted share. AOMR's GAAP book value decreased to $10.23 per share, while its economic book value fell to $13.16 per share. The company declared a dividend of $0.32 per share. AOMR executed two securitizations during the quarter, reducing whole loan warehouse debt and financing costs. Post-quarter, the company issued $50 million in senior unsecured notes and repurchased shares worth $20 million. The company's recourse debt to equity ratio stood at 1.2x as of June 30, 2024.

Angel Oak Mortgage REIT (NYSE: AOMR) has announced the date for its second quarter 2024 earnings release and conference call. The company, which focuses on acquiring and investing in first lien non-QM loans and other mortgage-related assets, will release its financial results before the market opens on Tuesday, August 6, 2024. A conference call will be held at 8:30 a.m. Eastern Time on the same day.

Investors can access the webcast of the conference call through the company's website at www.angeloakreit.com. To participate in the call, dial 1-844-826-3033 (domestic) or 1-412-317-5185 (international). The conference call playback will be available until August 20, 2024, by dialing 1-844-512-2921 (domestic) or 1-412-317-6671 (international) with the pass code 10190401.

Angel Oak Mortgage REIT (NYSE: AOMR) has announced the date for its second quarter 2024 earnings release and conference call. The company, which focuses on acquiring and investing in first lien non-QM loans and other mortgage-related assets in the U.S. mortgage market, will release its financial results before the market opens on Tuesday, August 6, 2024.

A conference call will be held at 8:30 a.m. Eastern Time on the same day. Investors can access the webcast through the company's website at www.angeloakreit.com. To participate in the call, dial 1-844-826-3033 (domestic) or 1-412-317-5185 (international). The conference call playback will be available until August 20, 2024, using the pass code 10190401.

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'.

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'.

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.