Angel Oak Mortgage REIT, Inc. (NYSE: AOMR) features a price-to-earnings (P/E) ratio that fluctuates dynamically based on quarterly net income variations, credit loss provisions, and changing share price valuations. Because real estate investment trusts are evaluated primarily on metrics like distributable earnings, price-to-book value, and net interest margins rather than standard corporate earnings, investors look closely at cash flow coverage to assess valuation relative to peers.