50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Angel Oak Mortgage director Morgan buys $45,481 in stock

Published 20/12/2024, 22:28
Angel Oak Mortgage director Morgan buys $45,481 in stock
AOMR
-

Jonathan Morgan, a director at Angel Oak Mortgage REIT, Inc. (NYSE:AOMR), recently purchased 5,000 shares of the company’s common stock. The shares were acquired at an average price of $9.0964 each, amounting to a total transaction value of $45,481. The purchase comes as AOMR trades near its 52-week low of $8.88, with a notably low P/E ratio of 3.17 and an attractive dividend yield of ~14%. InvestingPro analysis reveals management has been actively buying back shares, suggesting internal confidence in the company’s value. Following this purchase, Morgan now holds a total of 38,059 shares, which includes 6,655 shares of unvested restricted stock scheduled to vest on May 15, 2025. This transaction underscores Morgan’s continued investment in the real estate-focused REIT. Trading below book value with a price-to-book ratio of 0.81, AOMR is among 1,400+ stocks covered by detailed InvestingPro Research Reports, offering comprehensive analysis for informed investment decisions.

In other recent news, Angel Oak Mortgage REIT (AOMR) reported a strong third quarter in 2024, highlighted by significant increases in net income, book value, and dividends. The company’s GAAP net income was reported at $31.2 million, or $1.29 per diluted share, and the GAAP book value saw a 10.3% increase. Furthermore, a dividend of $0.32 per share has been declared.

These positive developments are reportedly due to the company’s strategic deployment of capital into high-quality non-QM loans and a favorable interest rate environment. The company’s delinquencies remain low at 1.95%, consistent over six quarters, and management expects a slight increase in delinquencies, reflecting a return to normal levels, not credit deterioration.

In addition to these financial results, AOMR completed a significant securitization in October, which is expected to yield interest savings. Two more securitizations are expected in Q4 2023, with one per quarter planned to continue. Despite increased leverage from the recent securitization, the management expressed confidence in the business environment and the potential for strong shareholder returns. Finally, AOMR anticipates net interest income growth in upcoming quarters and is exploring potential stock buybacks.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.