Angel Oak Mortgage REIT Q2 2026: Net Income Reaches $3.4M, Distributable Earnings Hit $9.0M, and a $0.32 Dividend Is Declared
AOMR is trading near its 52-week low of $7.955 (10% above the low).
Summary
Angel Oak Mortgage REIT posted Q2 2026 GAAP net income of $3.4 million and Distributable Earnings of $9.0 million, declared a $0.32 dividend, and highlighted post-quarter securitizations that cut leverage to 1.0x recourse debt-to-equity.
Key Events · Earnings and Guidance · AOMR
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Q2 2026 Earnings Turnaround
GAAP net income reached $3.4 million ($0.14 per diluted share), a sharp reversal from the $7.4 million loss in Q1 2026. Distributable Earnings climbed to $9.0 million ($0.37 per share), up from $2.6 million a year ago.
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Dividend Declaration
A quarterly dividend of $0.32 per share was declared, payable on August 28, 2026 to shareholders of record as of August 21, 2026. The payout is well-covered by Distributable Earnings.
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Balance Sheet Strengthening
Post-quarter securitizations—AOMT 2026-3 ($279.6M) and AOMT 2026-HB1 ($71.2M contributed)—reduced recourse debt-to-equity from 2.3x to 1.0x, significantly de-risking the capital structure.
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Portfolio Growth and Credit Quality
The company purchased $204 million of newly-originated non-QM loans and HELOCs in Q2, carrying a weighted average coupon of 7.34% and a credit score of 759. Total target assets grew to $2.9 billion.
Analysis · AOMR · Real Estate & Construction
A solid quarter for Angel Oak Mortgage REIT saw GAAP net income swing to a $3.4 million profit from a loss last quarter, fueled by an 8% rise in net interest income to $10.7 million. Distributable Earnings—a critical metric for REITs—came in at $9.0 million, or $0.37 per share, comfortably covering the newly declared $0.32 dividend. The balance sheet also got a boost: two post-quarter securitizations slashed recourse debt-to-equity from 2.3x to 1.0x, and the company repurchased $15 million in stock from a pre-IPO investor. Although book value per share edged down to $10.13 on unrealized mark-to-market losses in the loan portfolio, the underlying earnings power and improved leverage profile are encouraging signals for income-oriented investors.
At the time of this filing, AOMR was trading at $8.78 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $218.8M. The 52-week trading range was $7.96 to $10.14. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.