Angel Oak Mortgage REIT, Inc. Reports Fourth Quarter and Fiscal Year 2025 Financial Results

Core Viewpoint - Angel Oak Mortgage REIT, Inc. reported its financial results for the fourth quarter and fiscal year 2025, highlighting growth in net interest income and net income, alongside a dividend declaration of $0.32 per share [1]. Financial Performance Fourth Quarter 2025 Highlights - Declared a dividend of $0.32 per share, payable on February 27, 2026, to stockholders of record as of February 20, 2026 [1]. - Distributable Earnings of $7.3 million, or $0.29 per diluted share [1]. - GAAP net income of $11.3 million, or $0.45 per diluted share [1]. - Net interest income of $10.9 million, an increase of 10% from Q4 2024 [1]. Fiscal Year 2025 Highlights - Economic book value of $12.70 per share, a decrease of 3.1% compared to December 31, 2024 [1]. - GAAP book value of $10.74 per share, an increase of 5.6% compared to December 31, 2024 [1]. - Distributable Earnings of $14.6 million, or $0.59 per diluted share [1]. - GAAP net income of $44.0 million, or $1.80 per diluted share [1]. - Net interest income of $41.1 million, an increase of 11% from FY 2024 [1]. Portfolio and Investment Activity - As of December 31, 2025, the weighted average interest rate of the residential whole loans portfolio was 7.38% [1]. - The Company purchased $861.8 million of newly-originated non-QM residential mortgage loans, second lien mortgage loans, and HELOCs, with a weighted average coupon of 7.79% and a weighted average combined loan-to-value ratio of 65.4% [1]. - Participated in four securitization transactions in 2025, contributing a total of $704 million of unpaid principal balance of residential mortgage loans [1]. Capital Markets Activity - Entered into a $200 million repurchase facility with a global investment bank in Q4 2025 [1]. - As of December 31, 2025, the Company had four loan financing lines allowing borrowings up to $1.3 billion, with approximately $219 million drawn [1]. Balance Sheet - As of December 31, 2025, the recourse debt to equity ratio was approximately 1.4x [1]. - Held residential mortgage whole loans with a fair value of $294.1 million [1]. - Total assets amounted to $2.7 billion, an increase of 22% compared to December 31, 2024 [1].