Angel Oak Mortgage REIT, Inc.'s (NYSE:AOMR) Chief Financial Officer and Treasurer, Brandon Filson, has recently sold shares in the company. The transactions, which took place on August 29 and August 30, 2024, resulted in the sale of company stock valued at a total of over $38,000.
Filson sold 2,000 shares on the first day at a weighted average price of approximately $11.455. The following day, an additional 1,345 shares were sold at a price of $11.30 per share. These sales were made in multiple transactions at prices ranging from $11.30 to $11.46. After the transactions, Filson still owned a significant number of shares in the company, indicating a continued vested interest in the firm's performance.
The sales come amidst the normal course of business for executives who often engage in planned stock transactions. It is not uncommon for executives to sell portions of their stock holdings for personal financial management, diversification, or other reasons not necessarily connected to the company's current performance.
Investors and interested parties can request detailed information about the exact number of shares sold at each price point from the company, the SEC staff, or any security holder of the issuer if needed.
Angel Oak Mortgage REIT, Inc., based in Atlanta, Georgia, operates within the real estate sector, specializing in mortgage-related assets. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol AOMR.
In other recent news, Angel Oak Mortgage REIT (AOMR) has reported growth in net interest income and successful securitizations in the first half of 2024. The company has been involved in a $300 million securitization deal, filed a $750 million shelf for future capital raises, and closed a $50 million senior unsecured notes issuance. A decrease in GAAP book value was noted, but the company anticipates positive impacts from rate and spread movements.
Despite a 4.5% decrease in economic book value per share from the previous quarter, Angel Oak Mortgage REIT remains optimistic about future growth and plans to invest in high-quality non-QM loans. The company also declared a $0.32 per share common dividend and aims to acquire around $1 billion in loans with the new capital raised in July.
Recent developments include a decrease in delinquency rates and a reduction in operating expenses. Angel Oak Mortgage REIT is optimistic about the non-QM residential mortgage market and capital markets, and plans to increase investment into the business through loan acquisitions, securitization execution, and focused capital allocation. The company expects an accommodative rate environment to benefit the business.
InvestingPro Insights
Amidst the recent insider transactions at Angel Oak Mortgage REIT, Inc. (NYSE:AOMR), it's worthwhile for investors to consider the company's current financial metrics and analyst expectations. Angel Oak Mortgage REIT is currently trading at a low earnings multiple with a P/E Ratio of 5.64, reflecting a potentially undervalued stock when compared to industry peers. This is further highlighted by the company's adjusted P/E Ratio for the last twelve months as of Q2 2024, which stands at 5.33.
Moreover, the company boasts a substantial dividend yield of 11.33%, as of the latest data, which could be attractive to income-focused investors. The ex-date of the last dividend was August 22, 2024, indicating the company's commitment to returning value to its shareholders. This aligns with one of the InvestingPro Tips, which notes that Angel Oak Mortgage REIT pays a significant dividend to shareholders.
From a liquidity perspective, the company appears to be in a strong position with liquid assets surpassing short-term obligations. This financial stability is a key consideration for investors, especially in a real estate sector that can be sensitive to interest rate changes and economic cycles.
It's also important to note that while analysts anticipate a sales decline in the current year, Angel Oak Mortgage REIT has been profitable over the last twelve months. This is underscored by the company's robust revenue growth of over 200% for the last twelve months as of Q2 2024, indicating a strong period of expansion.
For those considering a deeper analysis, InvestingPro offers additional insights and metrics on Angel Oak Mortgage REIT. The platform lists several more InvestingPro Tips that could help investors make a more informed decision regarding their investment in AOMR.
Investors interested in exploring these metrics further can find additional InvestingPro Tips on the company's profile at https://www.investing.com/pro/AOMR, where a comprehensive list of tips and real-time data is available to help guide investment strategies.
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