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Angel Oak Mortgage REIT, Inc. (NYSE:AOMR), a $211.5 million market cap company currently offering a substantial 14.29% dividend yield, announced that Edward M. Cummings will resign from its Board of Directors, effective June 10, 2025. The resignation is not due to any disagreements with the company’s operations, policies, or practices. Cummings is a designee of an affiliate of Morgan Stanley & Co (NYSE:MS). LLC under a shareholder rights agreement. This agreement allows Morgan Stanley to nominate a replacement for Cummings on the board. The information is based on a recent SEC filing.
In other recent news, Angel Oak Mortgage REIT, Inc. reported a significant earnings beat for the first quarter of 2025, with earnings per share (EPS) reaching $0.87, far exceeding the forecast of $0.29. The company’s revenue also saw a substantial increase, rising to $32.9 million, marking a 30% year-over-year growth. In addition to its earnings performance, Angel Oak Mortgage REIT announced a public offering of $40 million in senior notes due 2030, with the proceeds intended for general corporate purposes, including the acquisition of non-qualified residential mortgage loans. The offering is supported by major financial firms such as RBC Capital Markets and UBS Securities. Angel Oak Mortgage REIT has also declared a dividend of $0.32 per share, which will be paid to shareholders later this month. The company recently announced a strategic partnership with Brookfield Asset Management (TSX:BAM), which is expected to provide new growth opportunities. Additionally, Angel Oak Mortgage REIT is planning to list the senior notes on the New York Stock Exchange under the ticker symbol "AOMD." These developments reflect the company’s strategic initiatives and financial activities in the current market environment.
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