Director increases his stake in the non-QM investment company
Angel Oak Mortgage REIT director W.D. Minami has acquired 5,000 shares of the company’s common stock, according to recent filings.
Minami purchased $55,500 worth of common stock on August 23 at a price of $11.10 apiece. This transaction has increased Minami’s total ownership in AOMR to 40,259 shares.
The move is seen as a strong signal of confidence in the company’s future. Insider purchases like this are often viewed positively by investors, as they suggest that company leaders believe in the firm’s value and potential for growth.
Minami’s current holdings also include 6,655 shares of unvested restricted stock, which are set to vest on May 15, 2025, provided he continues his service with the company through that date. The transaction was officially documented on August 26, with David Gordon signing off as attorney-in-fact for Minami.
The Atlanta-based real estate investment trust, focused on non-qualified mortgage (non-QMs) assets, has been showing strong growth in recent months.
The company reported an increase in net interest income and successfully led a $300 million securitization deal in its latest earnings call. Angel Oak Mortgage REIT also filed a $750 million shelf for future capital raises and closed a $50 million senior unsecured notes issuance.
While Angel Oak’s GAAP book value has decreased, it is expected to benefit from favorable rate and spread movements. The REIT has also declared a $0.32 per share common dividend and plans to deploy capital into high-quality non-QM loans.
Read next: Angel Oak Mortgage Solutions announces internal promotions
AOMR president and CEO Sreeni Prabhu said they remain optimistic about the non-QM residential mortgage market and capital markets and intend to increase its investments through loan acquisitions, securitization execution, and focused capital allocation.
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
