Angel Oak Mortgage REIT, Inc. — Form 8-K
Filed November 3, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 42/100
What the filing says
Angel Oak Mortgage REIT reported Q3 2026 GAAP net loss of $16.7M (−$0.72/share) driven by $22.6M net unrealized losses on portfolio; GAAP book value fell 11.5% to $8.97/share vs Q2 2026, while economic book value declined 6.5% to $11.45/share. Despite the loss, distributable earnings were $6.4M ($0.28/share) and the company declared $0.32/share dividend (paid Nov 30, 2026). Portfolio assets totaled $2.8B as of Sept 30, 2026; the company purchased $233M in non-QM loans in Q3 at 7.29% coupon with 758 avg credit score.
Why this rating
Significant book value erosion (11.5% QoQ) reflects mark-to-market pressure from rising rates; $16.7M loss is 8% of equity base. Moderate relative to $123.7M market cap but material deterioration. Portfolio credit fundamentals cited as sound; dividend coverage remains via distributable earnings. Not transformational but materially negative near-term for shareholders.
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