TPG Mortgage Investment Trust Stock Price, News & Analysis

TPG Mortgage Investment Trust, Inc. (NYSE: MITT) is a residential mortgage real estate investment trust (REIT) in the finance and insurance sector. The company focuses on investing in a diversified, risk‑adjusted portfolio of residential mortgage‑related assets in the U.S. mortgage market. Its stated objective is to provide attractive risk‑adjusted returns to stockholders over the long term through dividends and capital appreciation.

The company has historically operated under the name AG Mortgage Investment Trust, Inc. and announced that it changed its name to TPG Mortgage Investment Trust, Inc. effective with the New York Stock Exchange on December 26, 2025. The ticker symbol MITT on the NYSE remains the same following this name change. The name change reflects the integration and evolution of TPG Angelo Gordon's credit business into a unified global platform and is intended to further align the company’s identity with TPG’s investment capabilities and operational platform.

Business focus and investment strategy

According to company disclosures, TPG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on a diversified risk‑adjusted portfolio of residential mortgage‑related assets in the U.S. mortgage market. The company describes its goal as generating attractive risk‑adjusted returns through a combination of dividend distributions and potential capital appreciation. The investment portfolio has included residential investments, Agency RMBS, and legacy commercial investments associated with prior transactions, all held at fair value, as referenced in its earnings materials.

The company is externally managed and advised by AG REIT Management, LLC, which is a subsidiary of Angelo, Gordon & Co., L.P. (referred to as TPG Angelo Gordon). TPG Angelo Gordon is described as a diversified credit and real estate investing platform within TPG, managing capital across a broad range of credit and real estate strategies. This external management structure means that day‑to‑day portfolio management and advisory functions are carried out by an affiliated manager rather than by internal employees of the REIT.

Relationship with TPG Angelo Gordon and Arc Home

Company communications emphasize the role of TPG Angelo Gordon as the external manager and as part of TPG’s broader credit and real estate platform. The company notes that it benefits from the resources of a larger firm and from pairing a sector‑focused credit team with TPG’s broader network and investment platform.

TPG Mortgage Investment Trust, Inc. also holds an equity interest in Arc Home LLC, described as a licensed residential mortgage originator. The company invests in Arc Home through AG Arc LLC, an equity method investee. Disclosures indicate that the REIT increased its ownership interest in Arc Home through an additional acquisition of equity, with the ownership stake referenced as 66.0% as of September 30, 2025. The company has stated that Arc Home contributes to its Earnings Available for Distribution (EAD) and that the Arc Home platform is intended to support its residential mortgage investment activities.

Capital structure and listed securities

In SEC filings, the company identifies its jurisdiction of incorporation as Maryland and lists its common stock and several preferred and debt securities on the New York Stock Exchange. The registered securities include:

• Common Stock, par value $0.01 per share (trading symbol: MITT)
• 8.25% Series A Cumulative Redeemable Preferred Stock (trading symbol: MITT PrA)
• 8.00% Series B Cumulative Redeemable Preferred Stock (trading symbol: MITT PrB)
• 8.000% Series C Fixed‑to‑Floating Rate Cumulative Redeemable Preferred Stock (trading symbol: MITT PrC)
• 9.500% Senior Notes due 2029 (trading symbols: MITN and MITP)

These listings indicate that, in addition to common equity, the company uses preferred equity and senior notes as part of its capital structure. Details about leverage, securitized debt, and financing arrangements are discussed in its periodic earnings presentations and Form 8‑K filings, where it describes GAAP leverage and Economic Leverage as key metrics.

Dividends and earnings measures

The company regularly announces common and preferred stock dividends through press releases and Form 8‑K filings. For example, it has reported increases in its quarterly common dividend per share and has declared quarterly cash dividends on its Series A, Series B, and Series C preferred stock. These dividend announcements are positioned by the company as reflecting its view of the earnings power of its investment portfolio.

In its earnings releases, TPG Mortgage Investment Trust, Inc. reports GAAP net income available to common stockholders and also discloses a non‑GAAP measure called Earnings Available for Distribution (EAD). The company defines EAD as net income available to common stockholders adjusted to exclude items such as unrealized gains and losses on loans, real estate securities, derivatives and other investments (including its investment in AG Arc), certain realized gains and losses, transaction‑related expenses associated with acquisitions, dispositions, and securitizations, certain performance fees, changes in the fair value of Arc Home’s mortgage servicing rights and related derivatives, deferred taxes at taxable REIT subsidiaries, bargain purchase gains, and other specified nonrecurring items. EAD is intended by the company to reflect what it considers its core earnings profile, including net interest income and other income on its investments on a yield‑adjusted basis.

The company also discusses Economic Leverage Ratio as a non‑GAAP metric. It defines GAAP leverage as the sum of securitized debt at fair value, financing arrangements (net of restricted cash posted), senior unsecured notes, and certain unsettled trade balances. Economic Leverage is defined as GAAP leverage excluding fully non‑recourse financing arrangements and adjusted for the net TBA position, if any. These definitions are provided in the footnotes to its earnings releases.

Reporting and investor communications

TPG Mortgage Investment Trust, Inc. files periodic reports and current reports with the U.S. Securities and Exchange Commission (SEC). Form 8‑K filings have been used to furnish press releases and earnings presentations announcing financial results for quarters ended March 31, June 30, and September 30, 2025. In these filings, the company states that the attached press releases and presentations are being furnished, not filed, for purposes of Section 18 of the Securities Exchange Act of 1934.

The company also hosts earnings conference calls for stockholders, prospective stockholders, and analysts, and makes accompanying presentations available in the "News & Presentations" section of its website. These materials typically summarize book value per share, economic return on equity, leverage metrics, investment portfolio composition, liquidity, and contributions from Arc Home, as well as dividend decisions.

Corporate evolution and branding

In a Business Wire announcement, the company stated that it changed its name from AG Mortgage Investment Trust, Inc. to TPG Mortgage Investment Trust, Inc., with the name change taking effect on the NYSE on December 26, 2025. The company described this as a milestone marking the integration and evolution of TPG Angelo Gordon’s credit business into a unified global platform. It also indicated that the rebranding aligns MITT more closely with TPG’s broader investment and operational platform while continuing its focus on delivering risk‑adjusted returns to shareholders.

Position within the financial sector

Based on its own descriptions, TPG Mortgage Investment Trust, Inc. operates within the residential mortgage REIT segment of the finance and insurance sector. Its activities center on residential mortgage‑related assets in the U.S. mortgage market, and it relies on external management by a specialized credit and real estate platform within TPG. The company highlights its use of both GAAP and non‑GAAP metrics, such as EAD and Economic Leverage, to describe its performance and risk profile to investors.

FAQs

The following frequently asked questions summarize key points about TPG Mortgage Investment Trust, Inc. based on available disclosures.