Angel Oak Mortgage REIT, Inc. reported significant financial performance for the third quarter of 2025, with net income allocable to common stockholders reaching $11.4 million, or $0.49 per share, compared to $31.2 million, or $1.31 per share, in the same period last year. The company’s interest income increased to $36.7 million from $27.4 million, while interest expenses rose to $26.5 million from $18.4 million, resulting in a net interest income of $10.2 million, up from $9.0 million a year earlier. For the nine months ended September 30, 2025, net income was $32.7 million, down from $43.8 million in the prior year.
The company’s total assets increased to $2.6 billion as of September 30, 2025, up from $2.3 billion at the end of 2024. This growth was primarily driven by an increase in residential mortgage loans, which rose to $2.3 billion from $1.9 billion. Notably, the fair value of residential mortgage loans in securitization trusts also increased to $1.9 billion, compared to $1.7 billion at the end of the previous year. The company’s liabilities also grew, with total liabilities reaching $2.4 billion, up from $2.0 billion, largely due to increased notes payable and non-recourse securitization obligations.
In terms of strategic developments, Angel Oak Mortgage REIT engaged in several key transactions, including the issuance of $274.3 million in securitization backed by residential mortgage loans in October 2025. The proceeds from this securitization were used to repay approximately $237.4 million in outstanding debt, with the remaining cash earmarked for new loan purchases and operational purposes. Additionally, the company entered into a new management agreement with its external manager, Falcons I, LLC, on October 1, 2025, which is expected to enhance operational efficiency.
Operationally, the company reported a total of 24,914,035 shares of common stock outstanding as of November 6, 2025. The company’s cash and cash equivalents increased to $51.6 million from $40.8 million at the end of 2024, reflecting improved liquidity. The company also reported a significant increase in the weighted average price of its residential whole loans portfolio, which rose by 63 basis points during the third quarter of 2025.
Looking ahead, Angel Oak Mortgage REIT anticipates continued growth in its portfolio, supported by favorable market conditions and strategic acquisitions. The company plans to leverage its relationships and expertise in the mortgage industry to capitalize on opportunities in the non-qualified mortgage loan sector. However, it remains cautious of potential risks, including market volatility and changes in interest rates, which could impact its financial performance.
About Angel Oak Mortgage REIT, Inc.
Angel Oak Mortgage REIT, Inc. is a real estate finance company specializing in acquiring and investing in first lien non-qualified mortgage (non-QM) loans and other mortgage-related assets in the U.S. market. It primarily sources loans through its affiliated proprietary mortgage lending platform and invests in residential and commercial mortgage loans, mortgage-backed securities, and related assets. The company operates as a REIT, leveraging securitization and financing strategies to generate risk-adjusted returns for investors.
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