Angel Oak Mortgage REIT, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
March 05, 2024 at 07:18 am EST
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Angel Oak Mortgage REIT, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net income was USD 28.6 million compared to net loss of USD 8.8 million a year ago. Basic earnings per share from continuing operations was USD 1.15 compared to basic loss per share from continuing operations of USD 0.36 a year ago. Diluted earnings per share from continuing operations was USD 1.15 compared to diluted loss per share from continuing operations of USD 0.36 a year ago.
For the full year, the company reported net income was USD 33.71 million compared to net loss of USD 187.83 million a year ago. Basic earnings per share from continuing operations was USD 1.36 compared to basic loss per share from continuing operations of USD 7.65 a year ago. Diluted earnings per share from continuing operations was USD 1.35 compared to diluted loss per share from continuing operations of USD 7.65 a year ago.
Angel Oak Mortgage REIT, Inc. is a real estate investment trust (REIT) focused on acquiring and investing in first lien non-qualified residential mortgage (non-QM) loans and other mortgage-related assets in the United States (U.S.) mortgage market. The Company's objective is to generate attractive risk-adjusted returns for its stockholders through cash distributions and capital appreciation across interest rate and credit cycles. Its strategy is to make credit-sensitive investments in newly originated first lien non-QM loans that are primarily made to non-QM loan borrowers and primarily sourced from its mortgage lending platform, Angel Oak Mortgage Lending, which operates through a wholesale channel and has a national origination footprint. It also may invest in other residential mortgage loans, RMBS, and other mortgage-related assets, which, collectively with non-QM loans, are referred to as target assets. It is externally managed and advised by Falcons I, LLC (the Manager).
ANGEL OAK MORTGAGE REIT, INC. 
