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MITT-PA

AG Mortgage Investment Trust, Inc.

MITT-PA

AG Mortgage Investment Trust, Inc. • NYSE
$22.17 ▼ -0.02% (-0.00)
Market Cap $233.59 M
52w High $23.99
52w Low $18.60
Dividend Yield 2.06%
P/E 14.09
Volume 226
Outstanding Shares 10.54M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $26.384M ▲ $26.384M ▲ $19.961M ▲ 75.656% ▲ $0.47 ▲ $0
Q2-2025 $11.937M ▼ $11.937M ▼ $3.945M ▼ 33.049% ▼ $-0.046 ▼ $0
Q1-2025 $17.293M ▼ $17.293M ▼ $11.477M ▼ 66.368% ▼ $0.21 ▼ $0
Q4-2024 $18.994M ▼ $18.994M ▼ $14.282M ▼ 75.192% ▲ $0.3 ▼ $0
Q3-2024 $23.007M $23.007M $16.64M 72.326% $0.4 $0

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $59M ▼ $8.976B ▲ $8.416B ▲ $559.843M ▲
Q2-2025 $100.169M ▼ $7.462B ▲ $6.926B ▲ $536.407M ▼
Q1-2025 $115.549M ▼ $7.323B ▲ $6.779B ▲ $543.87M ▲
Q4-2024 $118.662M ▲ $6.914B ▼ $6.37B ▼ $543.423M ▲
Q3-2024 $102.532M $6.96B $6.42B $540.085M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $19.961M ▲ $17.379M ▲ $-1.47B ▼ $1.429B ▲ $-23.361M ▲ $17.379M ▲
Q2-2025 $3.945M ▼ $11.518M ▼ $-170.524M ▲ $129.958M ▼ $-29.048M ▼ $11.518M ▼
Q1-2025 $11.477M ▼ $11.997M ▼ $-314.725M ▼ $293.377M ▲ $-9.351M ▼ $11.997M ▼
Q4-2024 $14.282M ▼ $15.655M ▲ $-75.242M ▼ $83.937M ▲ $24.35M ▲ $15.655M ▲
Q3-2024 $16.64M $14.48M $283.627M $-332.323M $-34.216M $14.48M

Revenue by Products

Product Q1-2019
Securities And Loans Segment
Securities And Loans Segment
 $0 ▲
Single Family Rental Properties Segment
Single Family Rental Properties Segment
 $0 ▲

Five-Year Company Overview

Income Statement

Income Statement The business has swung from losses to more consistent, if still modest, profitability in the last few years. Revenue and operating income have generally improved, and recent years show positive results after earlier periods of meaningful losses. Earnings per share, however, have been very volatile, which is common for a leveraged mortgage REIT exposed to interest-rate and credit cycles. Overall, the trend is toward stabilization, but the earnings profile is still sensitive and can move sharply with market conditions.

Balance Sheet

Balance Sheet The balance sheet has grown significantly, with total assets and borrowings both increasing as the company has scaled its mortgage portfolio and securitization activity. Equity has been rebuilt and is somewhat larger than a few years ago, but it remains small relative to the size of the balance sheet, which points to high leverage. Cash on hand is modest, so the company depends heavily on its financing lines and securitizations to operate. This is a typical structure for a mortgage REIT but leaves less room for error if markets tighten.

Cash Flow

Cash Flow Operating cash flow has been consistently positive but not large, indicating that the business is functioning but not generating oversized cash surpluses. Free cash flow essentially tracks operating cash flow because the company has minimal traditional capital spending; its “investment” is mainly in financial assets rather than property or equipment. This means cash generation is closely tied to portfolio performance and funding costs, rather than big one‑time projects, but it also means cash flows can change quickly if credit or interest conditions shift.

Competitive Edge

Competitive Edge AG Mortgage Investment Trust competes in a specialized corner of the mortgage REIT space, focusing on non-agency residential mortgages where credit analysis matters more and competition is less commoditized. Its key edge is the partnership with TPG Angelo Gordon and the vertically integrated origination pipeline through Arc Home, which together provide proprietary deal flow, analytics, and securitization capabilities that many smaller peers lack. The flip side is concentration in a complex, credit-sensitive niche that can be more volatile than agency-focused strategies, and its smaller size compared with the largest mortgage REITs may limit diversification and market influence.

Innovation and R&D

Innovation and R&D The company’s “innovation” is primarily financial and data-driven rather than traditional R&D. It leans on a proprietary securitization platform, loan-level analytics, and risk models developed with TPG Angelo Gordon, as well as integration with Arc Home to source and structure non-agency loans. This allows programmatic securitizations and more tailored risk management, which can be a genuine edge in this market. Future improvements are likely to come from better data, analytics, and integration—possibly including more advanced modeling tools—rather than from new physical products or technologies.

Summary

AG Mortgage Investment Trust has transitioned from a period of heavy losses to more stable, though still fragile, profitability, supported by a scaled and highly leveraged balance sheet. Its model relies on borrowing against and securitizing non-agency mortgages, which offers higher potential returns but exposes it to credit and interest-rate shocks. Cash flows are positive but modest, and the structure leaves limited cushion if funding or housing markets deteriorate. Competitively, its alignment with TPG Angelo Gordon and ownership in Arc Home give it differentiated sourcing, analytics, and securitization capabilities that many rivals do not have, but also tie its fortunes to a complex, cyclical segment of the mortgage market. Overall, this is a specialized, financially engineered platform with real strategic strengths and meaningful sensitivity to broader market conditions.