The huge surge of inflation since 2021 has not been seen since the Carter Administration's 1970's oil crisis.
Angel Oak Mortgage REIT, Valley National Bancorp, and Chimera Investment Corporation have introduced new fixed-income offerings with attractive yields and potential early redemption options. Investors can purchase newly introduced preferred stock shares at wholesale prices on the OTC exchange, potentially avoiding capital losses if prices drop. CDx3 Notification Service tracks preferred stock and ETD offerings, alerting investors when securities fall below par value, providing opportunities for discounted investments.
Angel Oak Mortgage REIT, Inc. (NYSE:AOMR ) Q2 2024 Earnings Conference Call August 6, 2024 8:30 AM ET Company Participants KC Kelleher - Head of Corporate Finance and Investor Relations Sreeni Prabhu - President and Chief Executive Officer Brandon Filson - Chief Financial Officer Conference Call Participants Don Fandetti - Wells Fargo Doug Harter - UBS Eric Hagen - BTIG Matthew Howlett - B. Riley Operator Good day, and welcome to the Angel Oak Mortgage Second Quarter 2024 Earnings Call.
Angel Oak Mortgage (AOMR) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of $0.13. This compares to loss of $0.16 per share a year ago.
We take a look at the action in preferreds and baby bonds through the fourth week of July and highlight some of the key themes we are watching. Preferreds were flat on the week and up month-to-date due to lower Treasury yields and steady credit spreads. Agency mortgage REITs like Dynex Capital and AGNC saw drops in book value, offset by equity issuance.
Angel Oak Mortgage REIT is a mortgage REIT that focuses on non-qualified mortgage loans, a niche corner of the home loan market. AOMR is part of the Angel Oak Ecosystem, a vertically integrated home lender that underwrites, acquires, and securitized non-QM loans. The outlook for AOMR is dependent on volume in the residential real estate market.
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