AG Mortgage Investment Trust, Inc. Earnings Recaps
Q3 2026
Nov 8, 2026
TPG Mortgage Investment Trust fell 2.6% after earnings. Results were pressured by book value declining from $10 to $9.27 per share, EAD of $0.21 falling short of the $0.24 dividend, and Arc Home’s contribution reverting to break-even in September.
Key takeaways
- Book value fell 7.3% during the quarter, with the decline occurring entirely in September amid interest-rate volatility and pressure on agency and non-agency spreads.
- EAD was $0.21 per share, just below the $0.24 dividend.
- Arc Home originated approximately $1 billion, up about 19% year over year, but contributed roughly break-even to EAD after September volatility reversed July and August profitability.
- MITT issued approximately $1.25 billion across three home-equity securitizations; economic leverage increased modestly from 1.8x to approximately 2x.
- Management expects resolution of legacy commercial positions and redeployment into residential strategies to add approximately $0.15–$0.20 of annual EAD in 2027, depending on timing.
Q2 2026
Aug 13, 2026
Shares dropped 5.1% following the quarter as investors reacted to cautious outlook signals and ongoing legacy commercial loan issues limiting near-term upside, despite steady dividend coverage and strategic acquisition plans.
Key takeaways
- Book value per share grew modestly from $9.97 to $10.00, reflecting stable but unspectacular capital appreciation.
- Earnings available for distribution (EAD) reached $0.24 per share, fully covering the quarterly dividend of $0.24, maintaining payout but without growth this quarter.
- Legacy commercial loan exposure remains on nonaccrual status, delaying full earnings contribution; sale of retail exposure expected by year-end, with hospitality assets resolution on track but not realized yet.
- The upcoming Cherry Hill acquisition aims to deliver scale and cost synergies ($7-$9 million annually) but involves cautious execution risk ahead of closing in Q4.
- Management highlighted opportunities in residential mortgage segments and home equity, but near-term earnings power is constrained by legacy portfolio wind-down and cautious outlook.
Q3 2025
Nov 4, 2025
AG Mortgage Investment Trust (MITT) reported a robust third quarter for 2025, highlighted by strong earnings growth and an increase in book value, despite strategic dilution from an acquisition.
Key takeaways
- Book value rose to $10.46 per share, reflecting a 0.7% increase even after a 1.8% dilution from acquiring an additional 21.4% interest in Arc Home.
- Earnings available for distribution (EAD) increased to $0.23 per share, supported by robust performance from the investment portfolio and Arc Home's contributions.
- Successfully monetized $66 million in legacy WMC assets, allowing for a 20% expansion of the investment portfolio through residential mortgage acquisitions.
- The company executed four securitizations, significantly financing its acquisitions while mitigating risk.
- GAAP net income was reported at $14.6 million, or $0.47 per share, driven by strong asset appreciation in residential mortgage loans and non-Agency RMBS.