10 Cheap Growth Stocks to Buy Now

2. Angel Oak Mortgage REIT Inc. (NYSE:AOMR)

Price to Earnings ratio: 3.22

Angel Oak Mortgage REIT Inc. (NYSE:AOMR) is a real estate investment trust (REIT). It specializes in acquiring and investing in first lien non-qualified mortgage loans and other mortgage-related assets in the U.S.

On February 28, 2025, Angel Oak Mortgage REIT Inc. (NYSE:AOMR) paid its scheduled quarterly cash dividend of $0.32 per share, as previously declared on February 6, 2025. This dividend aligns with the company’s ongoing commitment to provide regular returns to its shareholders, reflecting a forward annual dividend of $1.28 and a yield of approximately 13.39%.

Angel Oak Mortgage REIT Inc. (NYSE:AOMR) delivered solid Q3 2024 results, reporting net interest income of $9.0 million, a 22% increase from $7.4 million in Q3 2023. The company posted GAAP net income of $31.2 million, reflecting a strong portfolio performance. However, distributable earnings showed a loss of $3.4 million, indicating some operational challenges. Angel Oak Mortgage REIT executed a $316.8 million securitization in October, reducing debt and lowering funding costs.

Donald Fandetti of Wells Fargo maintains a Buy rating on the stock, with a price target of $12.