BTIG lowered its price target on Angel Oak Mortgage REIT to $10 from $13.50 while reiterating a Buy rating. The firm noted that residential credit-focused mortgage REITs offer more attractive valuations and greater long-term book value upside than agency-focused peers. During the first-quarter 2026 earnings call, CEO Sreeniwas Prabhu highlighted continued operating growth and net interest income expansion, though results were pressured by unfavorable valuation impacts from rising interest rates and credit spreads. CFO Brandon Filson reported a GAAP net loss of $7.4 million, or $0.30 per diluted share, driven by unrealized valuation changes in loan portfolios amid macroeconomic volatility.
Angel Oak Mortgage IncBTIG lowered price target from $13.50 to $10, and Q1 GAAP net loss of $7.4M driven by unrealized valuation changes.