According to the company’s financial report, GAAP book value per share decreased to $10.23 as of June 30, down from $10.55 at the end of March. Economic book value per share also fell to $13.16 from $13.78 over the same period.
Angel Oak Mortgage REIT declared a dividend of $0.32 per share of common stock, to be paid on August 30, to stockholders of record as of August 22.
The company remains active in securitizations, having executed the AOMT 2024-4 securitization as the sole contributor of loans with a scheduled unpaid principal balance of approximately $299.8 million and a 7.4% weighted average coupon. This move reduced the company’s whole loan warehouse debt by $235.9 million and lowered financing costs by about 100 basis points.
As of June 30, Angel Oak Mortgage REIT had access to three loan financing lines permitting borrowings of up to $1.1 billion, with approximately $101 million drawn, leaving $950 million in capacity for new loan purchases.
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Source: mpamag.com