Angel Oak Mortgage REIT Inc

NYSE:AOMRUnited States

Nov 6, 2024

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• DJ Angel Oak Mortgage REIT Is Maintained at Buy by Jones Trading, from 7:29PM ET on Wednesday Nov 06, 2024 by Dow Jones

  7:29PM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: AOMR
  
  Ratings actions from Benzinga: https://www.benzinga.com/quote/AOMR/analyst-ratings
  
  (END) Dow Jones Newswires
  
  November 06, 2024 19:29 ET (00:29 GMT)
  

• Press Release: Angel Oak Mortgage REIT, Inc. Reports Third Quarter 2024 Financial Results, from 7:00AM ET on Wednesday Nov 06, 2024 by Dow Jones

  7:00AM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: AOMR

• Angel Oak Mortgage REIT, Inc. Reports Third Quarter 2024 Financial Results, from 7:00AM ET on Wednesday Nov 06, 2024 by Dow Jones

  7:00AM ET on Wednesday Nov 06, 2024 by Dow Jones
  Companies Mentioned: AOMR
  Common stock, $0.01 par value. As of September 30, 2024: 350,000,000 shares authorized, 23,511,272 shares issued and outstanding. As of December 31, 2023: 350,000,000 shares authorized, 24,965,274 shares issued and outstanding. $ 234 $ 249 Additional paid-in capital 461,249 477,068 Accumulated other comprehensive income (loss) (441) (4,975) Retained earnings (deficit) (195,944) (216,236) --------------- -------------- Total stockholders' equity $ 265,098 $ 256,106 --------------- -------------- Total liabilities and stockholders' equity $ 2,303,866 $ 2,308,011 =============== ============== Angel Oak Mortgage REIT, Inc. Reconciliation of Net Income (Loss) to Distributable Earnings and Distributable Earnings Return on Average Equity (Unaudited) Three Months Ended Nine Months Ended -------------------------- -------------------------- September September September September 30, 2024 30, 2023 30, 2024 30, 2023 ------------ ------------ ------------ ------------ (in thousands) Net income (loss) allocable to common stockholders $ 31,204 $ 8,273 $ 43,806 $ 5,115 Adjustments: Net unrealized (gains) losses on trading securities (984) 4,857 829 7,134 Net unrealized (gains) losses on derivatives 51 (4,563) (2,985) 7,794 Net unrealized (gains) losses on residential loans in securitization trusts and non-recourse securitization obligation (26,305) (5,319) (28,872) 5,784 Net unrealized (gains) losses on residential loans (7,935) (12,338) (17,438) (48,497) Net unrealized (gains) losses on commercial loans -- 64 (49) (83) Non-cash equity compensation expense 604 447 1,864 1,195 ------- ------- ------- ------- Distributable Earnings $ (3,365) $ (8,579) $ (2,845) $(21,558) ======= ======= ======= ======= Three Months Ended Nine Months Ended ---------------------------- ---------------------------- September 30, September 30, September 30, September 30, 2024 2023 2024 2023 ------------- ------------- ------------- ------------- ($ in thousands) Annualized Distributable Earnings $(13,460) $(34,315) $ (3,793) $(28,747) Average total stockholders' equity $260,452 $232,575 $260,083 $236,629 Distributable Earnings Return on Average Equity (5.2)% (14.8)% (1.5)% (12.1)% Angel Oak Mortgage REIT, Inc. Reconciliation of Stockholders' Equity to Stockholders' Equity Including Economic Book Value Adjustments and Economic Book Value per Share of Common Stock (Unaudited) September June 30, March 31, December September 30, 30, 2024 2024 2024 31, 2023 2023 ----------- ----------- ----------- ----------- ------------- (in thousands, except for share and per share data) GAAP total stockholders' equity $ 265,098 $ 255,806 $ 263,324 $ 256,106 $ 231,802 Adjustments: Fair value adjustment for securitized debt held at amortized cost 64,522 73,053 80,599 81,942 97,592 ---------- ---------- ---------- ---------- ------------ Stockholders' equity including economic book value adjustments $ 329,620 $ 328,859 $ 343,923 $ 338,048 $ 329,394 ========== ========== ========== ========== ============ Number of shares of common stock outstanding at period end 23,511,272 24,998,549 24,965,274 24,965,274 24,955,566 Book value per share of common stock $ 11.28 $ 10.23 $ 10.55 $ 10.26 $ 9.29 Economic book value per share of common stock $ 14.02 $ 13.16 $ 13.78 $ 13.54 $ 13.20