Welcome to our dedicated page for TPG Mortgage Investment Trust news (Ticker: MITT), a resource for investors and traders seeking the latest updates and insights on TPG Mortgage Investment Trust stock.
TPG Mortgage Investment Trust, Inc. (NYSE: MITT), formerly known as AG Mortgage Investment Trust, Inc., is a residential mortgage REIT focused on a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. The company is externally managed by AG REIT Management, LLC, a subsidiary of Angelo, Gordon & Co., L.P. (TPG Angelo Gordon), a diversified credit and real estate investing platform within TPG.
The MITT news feed highlights company announcements that matter to income-focused and mortgage market investors. Regular press releases cover quarterly financial results, including book value per share, economic return on equity, leverage metrics, liquidity, and contributions from its investment in Arc Home, a licensed residential mortgage originator in which the company holds an equity interest. These earnings updates are often accompanied by detailed presentations and conference calls for stockholders and analysts.
Dividend activity is a recurring theme in MITT’s news. The company frequently announces quarterly common stock dividends and has reported percentage increases in its common dividend per share over successive quarters. It also declares quarterly cash dividends on its Series A, Series B, and Series C preferred stock, providing additional information for investors tracking income from preferred securities.
News items also include information about strategic developments, such as the acquisition of additional ownership in Arc Home and the company’s rebranding from AG Mortgage Investment Trust, Inc. to TPG Mortgage Investment Trust, Inc., with the ticker MITT remaining unchanged. For readers following residential mortgage REITs, this page offers a centralized view of MITT’s earnings releases, dividend declarations, capital actions, and branding updates, along with details about scheduled earnings calls and replay availability.
AG Mortgage Investment Trust (NYSE: MITT) reported its Q2 2024 financial results. Key highlights include:
- Book Value per share: $10.63 as of June 30, 2024 (down from $10.84 on March 31, 2024)
- Adjusted Book Value per share: $10.37 as of June 30, 2024 (down 2.0% from March 31, 2024)
- Quarterly economic return on equity: -0.2%
- Net Loss per diluted common share: $0.02
- Earnings Available for Distribution (EAD) per diluted share: $0.21
- Dividend per common share: $0.19 (5.6% increase from Q1)
The company's investment portfolio stood at $6.9 billion as of June 30, 2024. MITT issued $65 million in senior notes and entered the Russell 3000® Index. The company maintains a positive outlook on its portfolio performance and ability to create long-term shareholder value.
AG Mortgage Investment Trust, Inc. (NYSE: MITT) has announced its schedule for the release of second quarter 2024 financial results. The company will release its Q2 2024 earnings report before the market opens on Friday, August 2, 2024. Following the release, MITT will host a conference call at 8:30 a.m. Eastern Time on the same day to discuss the results.
Investors can participate in the call by dialing (800) 445-7795 for domestic callers or (203) 518-9848 for international callers. The Conference ID is MITTQ224. A live webcast of the call will also be available on the company's website. For those unable to attend the live call, an audio replay will be accessible from August 2, 2024, through September 2, 2024.
AG Mortgage Investment Trust (NYSE: MITT) has announced a 5.6% increase in its quarterly common dividend, raising it to $0.19 per share for Q2 2024. This dividend, payable on July 31, 2024, will be given to shareholders of record as of June 28, 2024. CEO TJ Durkin states that the increase aligns with their long-term earnings growth and reflects the strength of their investment portfolio along with the additional scale from a recent merger. The company remains focused on optimizing its capital structure to drive long-term shareholder value.
AG Mortgage Investment Trust (NYSE: MITT) announced its inclusion in the Russell 3000® Index, effective July 1, 2024. The preliminary list was released by FTSE Russell on May 24, 2024. CEO TJ Durkin highlighted that this milestone reflects MITT's growth efforts and promises increased visibility. Membership in the Russell 3000® Index ensures automatic inclusion in either the Russell 1000® or Russell 2000® Index, impacting asset management strategies that benchmark approximately $10.5 trillion. The inclusion is expected to provide broader exposure and attract more investors to MITT.
AG Mortgage Investment Trust (MITT) has closed a public offering of $65 million in senior notes, due 2029, with an interest rate of 9.500%. The notes are expected to start trading on the NYSE under the symbol 'MITP' on May 20, 2024. This follows a $34.5 million bond offering in January, addressing the maturity of legacy WMC convertible notes due in September. CEO TJ Durkin emphasized the company's focus on proving the sustainability of their portfolio's earnings while optimizing capital structure. The offering was managed by several major financial firms and executed under an effective shelf registration statement with the SEC.
AG Mortgage Investment Trust, Inc. announced the pricing of a $65 million public offering of 9.500% senior notes due 2029. The Notes have received an investment grade rating of BBB- from Egan-Jones Ratings Company. The Company plans to use the net proceeds for general corporate purposes, including acquisition of Residential Investments and Agency RMBS.
AG Mortgage Investment Trust, Inc. reported its financial results for the first quarter of 2024, showing positive growth in book value, adjusted book value, and economic return on equity. The company highlighted the benefits of the acquisition of WMC and its focus on residential mortgage REIT. MITT also shared investment, financing, and capital market highlights, including strategic sales, financing details, and liquidity. The company announced dividends for preferred stock and common stockholders. Management expressed confidence in delivering strong earnings and enhancing scale and efficiencies.
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