TPG Mortgage Investment Trust, Inc.

Listed Company

MITT-PBCIK 0001514281NYSEAcceleratedSmaller ReportingReal Estate Investment TrustsFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$48.67M

Total Assets

$8.71B

Equity

$560.73M

Shares Out

31.74M

Op. Cash Flow

$59.57M

Business

TPG Mortgage Investment Trust, Inc. is a residential mortgage real estate investment trust that invests in a diversified, risk-adjusted portfolio of U.S. residential mortgage-related assets. It acquires and securitizes newly-originated residential mortgage loans and invests in Non-Agency Loans, Agency-Eligible Loans, Home Equity Loans, Non-Agency and Agency RMBS, and legacy commercial mortgage assets acquired in the WMC merger. The company operates through its investment portfolio and its ownership interest in Arc Home, a multi-channel mortgage originator and servicer, and is externally managed by AG REIT Management/TPG Angelo Gordon. It conducts activities across the U.S. mortgage market, financing assets via repurchase agreements, securitizations and other financing arrangements and distributing investments through securitization platforms and sales to institutional investors.

Summary from filing dated 2025-03-04

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest income	480	408	260	180	71
Interest expense	404	343	213	—	—
Total Net Interest Income	77	66	48	61	43
Net interest component of interest rate swaps	3	8	7	−5	−5
Net realized gain/(loss)	−11	−3	8	81	2
Net unrealized gain/(loss)	21	17	1	−138	63
Total Other Income/(Loss)	13	22	46	−61	60
Management fee to affiliate	9	8	—	8	7
Non-investment related expenses	11	11	10	9	10
Investment related expenses	16	14	10	9	7
Transaction related expenses	7	3	11	16	7
Total Expenses	43	35	39	43	31
Income/(loss) before equity in earnings/(loss) from affiliates	47	53	55	−43	72
Equity in earnings/(loss) from affiliates	3	3	−1	−10	32
Net Income/(Loss) before Income Taxes	50	56	—	—	—
Income tax expense	888,000	112,000	—	—	—
Net Income/(Loss)	49	56	54	−53	104
Dividends on preferred stock	21	19	−18	−18	−19
Net Income/(Loss) Available to Common Stockholders	27	36	35	−71	86
Basic (in dollars per share)	0.9	1.23	1.68	−3.12	5.29
Diluted (in dollars per share)	0.9	1.23	1.68	−3.12	5.29
Basic (in shares)	31	29	21	23	16
Diluted (in shares)	31	30	21	23	16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Real estate securities, at fair value - $231,894 and $165,393 pledged as collateral, respectively	260	201	163	44	514
Investments in debt and equity of affiliates	61	47	55	71	—
Cash and cash equivalents	58	119	112	85	68
Restricted cash	18	20	14	14	—
Other assets - $319 and $0 pledged as collateral, respectively	59	42	41	28	21
Total Assets	8,712	6,914	6,126	4,370	3,363
Securitized debt, at fair value	7,178	5,492	4,712	3,262	999
Financing arrangements	826	742	768	621	—
Senior unsecured notes	96	96	0	—	—
Dividend payable	7	6	1	4	5
Other liabilities	43	35	32	20	10
Total Liabilities	8,151	6,370	5,598	3,907	2,792
Commitments and Contingencies (Note 12)	—	—	—	—	—
Preferred stock - $227,991 aggregate liquidation preference	220	220	220	220	220
Common stock, par value $0.01 per share; 450,000 shares of common stock authorized and 31,744 and 29,640 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	317,000	296,000	294,000	212,000	239,000
Additional paid-in capital	840	824	824	779	796
Retained earnings/(deficit)	−500	−502	−516	−536	−447
Total Stockholders' Equity	561	543	528	463	570
Total Liabilities & Stockholders' Equity	8,712	6,914	6,126	4,370	3,363

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net amortization of premium/(discount)	23	11	9	5	—
Grant of restricted stock and amortization of equity based compensation	712,000	667,000	380,000	327,000	320,000
Equity in (earnings)/loss from affiliates	−3	−3	1	10	—
Distributions of income from investments in debt and equity of affiliates	0	1	814,000	2	—
Other assets	5	10	2	−7	−8
Other liabilities	−5	−6	−8,000	8	2
Net cash provided by (used in) operating activities	60	56	28	23	26
Purchases of residential mortgage loans	−3,049	−1,755	−1,234	−2,584	−2,472
Purchases of real estate securities	−81	−654	−294	−109	−925
Investments in debt and equity of affiliates	−114,000	0	−22	−2	−7
Proceeds from sales of residential mortgage loans	407	355	418	53	140
Proceeds from sales of real estate securities	7	607	286	527	894
Principal repayments on residential mortgage loans	1,040	711	348	464	148
Principal repayments on real estate securities	31	22	14	21	68
Principal funding on residential mortgage loans	−18	−2	0	—	—
Distributions received in excess of income from investments in debt and equity of affiliates	4	11	21	17	85
Net settlement of interest rate swaps and other instruments	−11	−12	8	119	22
Net settlement of TBAs	−3	24,000	−65,000	3	1
Cash flows provided by other investing activities	6	4	2	—	4
Net cash provided by (used in) investing activities	−1,667	−713	−434	−1,490	−1,900
Net borrowings under (repayments of) financing arrangements	134	−13	−25	−1,157	1,214
Principal repayments on fixed-rate long-term financing arrangements	−49	−11	0	—	—
Proceeds from issuance of senior unsecured notes	0	95	0	—	—
Repurchases of convertible senior unsecured notes	0	−7	0	—	—
Principal repayments of convertible senior unsecured notes	0	−79	0	—	—
Deferred financing costs paid	−345,000	−251,000	−9,000	−317,000	−977,000
Proceeds from issuance of securitized debt	2,749	1,380	878	3,050	813
Principal repayments on securitized debt	−1,242	−658	−370	−380	−164
Dividends paid on common stock	−24	−18	−17	−19	−11
Dividends paid on preferred stock	−21	−19	−18	−18	−19
Net cash provided by (used in) financing activities	1,545	670	432	1,466	1,911
Net change in cash and cash equivalents and restricted cash	−62	13	27	−1	—
Cash paid for interest	374	308	190	103	24
Cash paid for income taxes	618,000	141,000	231,000	183,000	16,000
Transfer from residential mortgage loans to securitized residential mortgage loans	2,949	1,473	—	—	—
Transfer from securitized residential mortgage loans to residential mortgage loans	314	0	—	—	—
Transfer from residential mortgage loans to other assets	0	5	4	3	3
Issuance of common stock (Note 10)	15	0	51	0	0
Investment in debt and equity of affiliates (Note 10)	15	0	—	—	—

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