He lets go of company stock
An Angel Oak Mortgage REIT (AOMR) recently sold company shares valued at more than $38,000, according to reports from Investing.com.
On August 29, AOMR chief financial officer and treasurer Brandon Filson sold 2,000 shares at an average price of $11.455 per share. The next day, an additional 1,345 shares were sold at $11.30 per share.
These transactions are considered routine for executives, who often sell stock as part of personal financial planning or portfolio diversification. Such actions are not necessarily linked to the company’s current performance. Filson still owns a significant number of shares, according to the report.
Angel Oak Mortgage REIT, based in Atlanta, operates within the real estate sector and specializes in mortgage-related assets. The company’s stock is publicly traded on the New York Stock Exchange under the ticker symbol AOMR.
In recent months, the REIT has reported growth in net interest income and completed several successful securitization deals. Angel Oak was involved in a $300 million securitization deal, filed a $750 million shelf for future capital raises, and issued $50 million in senior unsecured notes.
Read more: Angel Oak Mortgage REIT reports quarterly setback
While Angel Oak reported a 4.5% decrease in economic book value per share from the previous quarter, the company remains optimistic about future growth, particularly in the non-QM loan space. The company has declared a $0.32 per share common dividend and aims to acquire around $1 billion in new loans with fresh capital raised in July.
In other recent news, Angel Oak Mortgage Solutions made several internal promotions in its senior leadership team.
The company elevated Tom Hutchens from executive vice president of production to president. Other promotions included John Jeanmonod to regional vice president of sales and Alysse Prosnick and Travis LaLonde to executive vice president roles in operations and credit, respectively.
These developments come as Angel Oak continues to reduce delinquency rates and operating expenses, positioning itself for future growth in the mortgage market.
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