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Angel Oak Mortgage REIT, Inc. (NYSE:AOMR), a $234 million market cap REIT currently trading at an attractive P/E ratio of 3.35x and offering a substantial 12.8% dividend yield according to InvestingPro, announced today that its board of directors has approved a significant amendment to the company’s bylaws, enhancing shareholder rights. The amendment, effective as of February 27, 2025, now allows the company’s stockholders to alter or repeal any provision of the bylaws and to adopt new bylaws with a majority vote.
Previously, the board held exclusive authority to adopt, alter, or repeal bylaw provisions. This change marks a shift towards greater shareholder democracy, granting them a more direct role in the governance of the Maryland-incorporated real estate investment trust. The company maintains strong financial health with a current ratio of 3.04, indicating robust liquidity to meet short-term obligations.
The board retains its power to make bylaw changes, operating co-extensively with the rights of the shareholders. This move is seen as a balance between board oversight and shareholder influence within the company’s governance structure.
The amended and restated bylaws, known as the Fourth Amended and Restated Bylaws, are now in effect, reflecting the company’s commitment to aligning its governance practices with shareholder interests.
Angel Oak Mortgage REIT specializes in the real estate sector and is recognized under the Standard Industrial Classification code 6500. The company’s principal executive offices are located in Atlanta, Georgia.
This update to the bylaws comes without any change to the company’s fiscal year-end, which remains on December 31. The detailed text of the amended bylaws is attached to the SEC filing as Exhibit 3.1.
The information is based on a press release statement from Angel Oak Mortgage REIT, Inc., filed with the Securities and Exchange Commission. For deeper insights into AOMR’s financial health, governance metrics, and additional ProTips, explore the comprehensive Pro Research Report available exclusively on InvestingPro, covering over 1,400 US equities with expert analysis and actionable intelligence.
In other recent news, Angel Oak Mortgage Inc has been highlighted by Janney Montgomery Scott, which initiated coverage with a Buy rating and a price target of $13.00. Analysts from Janney emphasized the company’s strong position in the non-qualified mortgage sector and its robust balance sheet, projecting mid-single-digit growth in book value per share. They also expect the company’s return on equity to remain in the mid-double-digit range, with a pro forma dividend yield of 9.8%. Additionally, Angel Oak Mortgage REIT, Inc. announced the extension of its loan financing facility in a recent 8-K filing with the Securities and Exchange Commission. This extension, secured through a renewal agreement with "Multinational Bank 1," extends the facility’s expiration to June 25, 2025. The extension allows Angel Oak Mortgage REIT to maintain leverage in its financing operations. These developments indicate continued financial maneuvering and strategic positioning by the company in the mortgage sector.
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