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MITT-PB

AG Mortgage Investment Trust, Inc.

MITT-PB

AG Mortgage Investment Trust, Inc. • NYSE
$21.98 ▲ 1.31% (+0.28)
Market Cap $231.92 M
52w High $23.17
52w Low $18.41
Dividend Yield 2.00%
P/E 13.97
Volume 2.46K
Outstanding Shares 10.55M

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 Over the past five years, the company’s results have been quite volatile, which is common for mortgage REITs but still worth noting. It swung from a deep loss during the pandemic to strong recovery profits, then back to a loss in 2022, and more modest but positive earnings in 2023 and 2024. The core operating performance has been positive in recent years, suggesting the underlying strategy is working better than it did in 2020, but the history shows that earnings can change quickly with interest rates, funding costs, and credit conditions. For preferred investors, this pattern signals a business that can rebound but is inherently cyclical and sensitive to market swings, rather than one that delivers very steady, predictable profits.

Balance Sheet

Balance Sheet The balance sheet has grown meaningfully, with assets and matching debt levels increasing steadily as the company scaled up its mortgage and securitization activities. Leverage is high, which is normal for a mortgage REIT but always amplifies both upside and downside in stressed markets. Equity has inched up over time rather than surging, showing gradual rebuilding of capital rather than a dramatic strengthening. Cash on hand is relatively small compared with the asset base, so the company depends heavily on access to secured borrowing and capital markets. For a preferred security like MITT-PB, this means the issuer operates with the typical high-debt, thin-equity structure of its sector, backed by mortgage and securitized assets rather than large cash cushions.

Cash Flow

Cash Flow Cash generation from operations has been consistently positive but fairly modest, without large swings. Free cash flow essentially mirrors operating cash flow because there is little need for traditional capital spending; instead, cash is deployed into loans and securities. This is typical for a financial firm and means that cash flows are driven more by financing terms, spreads, and portfolio turnover than by factories or equipment. The pattern suggests a business that can support itself in normal conditions, but one whose ability to cover obligations still depends on stable funding markets, healthy securitization activity, and disciplined risk management rather than large cash buffers.

Competitive Edge

Competitive Edge AG Mortgage Investment Trust competes as a specialist in residential credit rather than a broad, plain-vanilla mortgage REIT. Its key edge comes from two relationships: the external manager, TPG Angelo Gordon, which brings deep credit and real estate expertise, and its majority-owned originator, Arc Home, which supplies a steady flow of niche mortgages. This integrated origination-and-securitization model can give the company more control over asset quality and deal timing than peers that buy solely in the open market. The focus on non-traditional and home equity loans targets less crowded segments that can offer higher returns but also carry more credit and regulatory risk. The flip side is that the company is smaller and more specialized than some competitors, relies on an external manager, and is exposed to both credit cycles and funding markets, so its competitive strength is meaningful but not without vulnerability.

Innovation and R&D

Innovation and R&D Innovation here is less about in-house research labs and more about how the business is structured and how technology is used through partners. The company’s main innovation is its tight integration with Arc Home, which uses modern digital lending tools, automated underwriting platforms, and broker portals to originate specialized mortgages more efficiently. This setup allows the REIT to act like a programmatic factory: sourcing loans, packaging them into securities, and recycling capital on a repeat basis. While much of the technology is sourced from third parties, the way it is combined with underwriting expertise and securitization know-how is the real differentiator. Looking ahead, greater use of data analytics and AI in Arc Home’s workflows could further sharpen risk selection and speed, but also introduces execution risk if systems or models underperform in stressed environments.

Summary

MITT-PB is tied to a mortgage REIT that has transformed itself from a pandemic-driven low point into a more focused residential credit platform, with clear progress but still a track record of earnings swings. The company now operates with a scaled portfolio, high leverage, and modest but positive cash generation, which is typical for its niche but leaves it sensitive to shifts in interest rates, housing credit quality, and securitization markets. Its main strengths are its partnership with TPG Angelo Gordon and its majority stake in Arc Home, which together create a pipeline of specialized loans and a repeatable securitization engine that many peers lack. At the same time, the strategy concentrates risk in non-standard mortgage segments and depends on continued access to short-term funding and healthy capital markets. For a preferred security investor, this translates into exposure to a specialized, innovation-driven but inherently cyclical mortgage platform whose performance will likely ebb and flow with the broader credit and housing cycle and with the successful execution of its integrated model.