Angel Oak Mortgage REIT, Inc. — Form 8-K
Filed August 4, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 32/100
What the filing says
Angel Oak Mortgage REIT reported Q2 2026 GAAP net income of $3.4M ($0.14/share) and distributable earnings of $9.0M ($0.37/share). Net interest income grew 8% to $10.7M versus Q2 2025 ($9.9M); year-to-date NII expanded 14% to $22.9M. The company purchased $204M in newly-originated non-QM loans (7.34% WAC, 70.5% CLTV, 759 credit score), repurchased $15M of common stock from a pre-IPO investor, and subsequently (July-August 2026) executed AOMT 2026-3 ($279.6M securitization) and AOMT 2026-HB1 ($221.4M HELOC securitization), reducing recourse debt-to-equity from 2.3x to 1.0x post-quarter. GAAP book value per share declined 1.7% to $10.13; economic book value declined 0.3% to $12.24.
Why this rating
Routine quarterly earnings: stable NII growth, modest net income, standard dividend. Securitizations post-quarter improve leverage but typical operations. At $123.7M market cap, modest absolute numbers and no material strategic shift.
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