MITT
TPG Mortgage Investment TrustCDocument history
Earnings documents stored for MITT.
Investor releaseQuarter not tagged2026-05-02AG Mortgage Investment Trust Q1 Earnings Call Highlights
MarketBeat
AG Mortgage Investment Trust Q1 Earnings Call Highlights
Q1 book value fell to $9.97 from $10.48 (a 4.9% decline) and the company reported a GAAP net loss of about $8.7 million driven entirely by unrealized marks, but management says it has already recovered at least 50% of that unrealized decline early in Q2. Earnings covered the dividend: both adjusted distributable earnings and EAD were $0.26 per share, fully covering the newly raised quarterly payout of $0.24 — the firm’s fourth dividend increase since the start of 2025. Management is rotating capital into higher‑return residential credit, executing roughly $500M of home‑equity securitizations and a post‑quarter $430M non‑agency deal, with low delinquencies ( 1.3% non‑agency, 0.4% home equity), conservative economic leverage of 1.7x, growing Arc Home contributions (~$0.04 per share), and about $100M of liquidity. Interested in AG Mortgage Investment Trust, Inc.? Here are five stocks we like better. TPG Mortgage Investment Trust management said first-quarter results were pressured by a late-quarter macro shock, but emphasized that earnings power remained intact and that it has seen a partial recovery in book value declines early in the second quarter. Executives also pointed to continued portfolio rotation toward residential credit strategies, a conservative leverage posture, and improving contributions from Arc Home as key drivers supporting the dividend. CEO and President T.J. Durkin said the quarter began with “additional moderation of interest rate volatility, lower rates, and strong residential credit fundamentals,” alongside increased demand for risk across non-agency assets. That backdrop changed in March following an escalation of conflict in the Middle East, which he said “weigh[ed] on asset valuations broadly.” → Corning Beats Q1 Estimates but Drops 9% on Guidance Miss As a result, book value fell to $9.97 per share from $10.48. Durkin told investors that while it was “too early” to comment on April book value precisely, the company believes it has “already recovered at least 50% of the previous quarter’s unrealized book value decline.” Chief Financial Officer Anthony Rossiello said book value declined 4.9% in the quarter and, including the dividend, translated to a negative 2.6% economic return. He attributed the quarter’s GAAP loss to unrealized marks: the company posted a GAAP net loss of about $8.7 million, or $0.27 per share, “entirely driven by...
Investor releaseQuarter not tagged2026-04-29TPG Mortgage Investment Trust: Q1 Earnings Snapshot
Associated Press
TPG Mortgage Investment Trust: Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — TPG Mortgage Investment Trust, Inc. (MITT) on Wednesday reported a loss of $3.6 million in its first quarter. On a per-share basis, the New York-based company said it had a loss of 27 cents. Earnings, adjusted for non-recurring costs, were 26 cents per share. The real estate investment trust posted revenue of $129.8 million in the period. Its adjusted revenue was $20.6 million. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MITT at https://www.zacks.com/ap/MITT
Investor releaseQuarter not tagged2026-04-29TPG Mortgage Investment Trust (MITT) Q1 Earnings Top Estimates
Zacks
TPG Mortgage Investment Trust (MITT) Q1 Earnings Top Estimates
TPG Mortgage Investment Trust (MITT) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.2 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +4.00%. A quarter ago, it was expected that this real estate investment trust would post earnings of $0.26 per share when it actually produced earnings of $0.25, delivering a surprise of -3.85%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. TPG Mortgage Investment Trust, which belongs to the Zacks REIT and Equity Trust industry, posted revenues of $20.64 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 1.7%. This compares to year-ago revenues of $18.85 million. The company has not been able to beat consensus revenue estimates over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. TPG Mortgage Investment Trust shares have lost about 3.9% since the beginning of the year versus the S&P 500's gain of 4.3%. While TPG Mortgage Investment Trust has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for TPG Mortgage Investment Trust was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in li...
Investor releaseQuarter not tagged2026-04-29TPG Mortgage Investment Trust, Inc. Reports First Quarter 2026 Results
Business Wire
TPG Mortgage Investment Trust, Inc. Reports First Quarter 2026 Results
NEW YORK, April 29, 2026--(BUSINESS WIRE)--TPG Mortgage Investment Trust, Inc. ("MITT," "we," the "Company," or "our") (NYSE: MITT) today reported financial results for the quarter ended March 31, 2026. MANAGEMENT REMARKS "Despite a challenging macroeconomic backdrop that pressured book values across the industry, our disciplined leverage profile, consistent capital rotation into higher-returning residential investments, and continued focus on scaling profitability at Arc Home produced EAD of $0.26 for the first quarter, more than covering our recently increased $0.24 dividend" said T.J. Durkin, Chief Executive Officer and President. "Notably, we have been able to raise our common dividend in four of the last six quarters and believe we are well-positioned to drive increased earnings power as we progress through 2026." FIRST QUARTER FINANCIAL HIGHLIGHTS $9.97 Book Value per share as of March 31, 2026(1) Quarterly economic return on equity of (2.6)%(2) $(0.27) of Net Income/(Loss) Available to Common Stockholders per diluted common share(3) $0.26 of Earnings Available for Distribution ("EAD") per diluted common share(3),(4) $0.24 dividend per common share declared in the first quarter 2026, representing a 4.3% increase over the fourth quarter 2025 dividend of $0.23 per common share INVESTING AND FINANCING HIGHLIGHTS $8.1 billion Investment Portfolio as of March 31, 2026(5) 0.6% Net Interest Margin, which includes a 0.02% benefit from the net interest component of our interest rate swaps(6) $52.3 million investment in Arc Home as of March 31, 2026 determined using a valuation multiple of 1.05x book value(7) $7.7 billion of financing as of March 31, 2026(5) $6.8 billion of non-recourse and $0.9 billion of recourse financing 14.1x GAAP Leverage Ratio and 1.7x Economic Leverage Ratio(8) $100.0 million of total liquidity as of March 31, 2026(9) DIVIDENDS On March 16, 2026, declared a first quarter dividend of $0.24 per common share On April 27, 2026, declared quarterly cash dividends of $0.51563, $0.50, and $0.665952 per share on our Series A, Series B, and Series C Preferred Stock, respectively, payable on June 17, 2026 to preferred shareholders of record on May 29, 2026 STOCKHOLDER CALL The Company invites stockholders, prospective stockholders, and analysts to participate in MITT’s first quarter earnings conference call on Wednesday, April 29, 2026 at 8:30 a.m....
TranscriptFY2026 Q12026-04-29FY2026 Q1 earnings call transcript
Earnings source - 56 paragraphs
FY2026 Q1 earnings call transcript
Good day. Thank you for standing by. Welcome to the TPG Mortgage Investment Trust, Inc. First quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's remarks, there will be a question-and-answer session. In order to ask a question during the session please press the star key followed by the number one on your telephone. Please be advised that today's conference is being recorded. If you require any further assistance please press star then zero. I'd now like to turn the call over to Jenny Neslin, General Counsel for the company. Please go ahead.
Thank you. Good morning, everyone, and welcome to the first quarter 2026 earnings call for TPG Mortgage Investment Trust. With me on the call today are T.J. Durkin, our CEO and President, Nicholas Smith, our Chief Investment Officer, and Anthony Rossiello, our Chief Financial Officer. Before we begin, please note that the information discussed in today's call may contain forward-looking statements. Any forward-looking statements made during today's call are subject to certain risks and uncertainties, which are outlined in our SEC filings, including under the headings "Cautionary Statement Regarding Forward-Looking Statements," "Risk Factors," and "Management's Discussion and Analysis." The company's actual results may differ materially from these statements.
We encourage you to read the disclosure regarding forward-looking statements contained in our SEC filings, including our most recently filed Form 10-K for the year ended December 31, 2025, and our subsequent reports filed from time to time with the SEC. Except as required by law, we are not obligated and do not intend to update or to review or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. During the call today, we will refer to certain non-GAAP financial measures. Please refer to our SEC filings for reconciliations to the most comparable GAAP measures. We will also reference the earnings presentation that was posted to our website this morning. To view the slide presentation, turn to our website, www.mitt.tpg.com, and click on the link for the Q1 2026 earnings presentation on the homepage.
Again, welcome to the call, and thank you for joining us today. With that, I'd like to turn the call over to T.J.
Thank you, Jenny. Good morning, everyone. During the first quarter, we experienced a familiar dynamic. In the beginning of the quarter, the company benefited from additional moderation of interest rate volatility, lower rates, and strong residential credit fundamentals, along with increased demand for risk across the entire non-agency capital stack from investors. These favorable conditions abruptly unwound in March following the escalation of the conflict in the Middle East, weighing on asset valuations broadly. Despite the challenging macro backdrop that put pressure on this book value for the first quarter, declining from $10.48 to $9.97, we maintained a disciplined leverage profile and remained focused on executing our core strategy of rotating capital into higher returning residential credit strategies and scaling profitability at Arc Home.
These efforts produced the AD of $0.26 for the first quarter, more than covering our most recently declared dividend of $0.24. Further, we'd like to note that although it's too early in our process to comment on April book value, we believe we have already recovered at least 50% of the previous quarter's unrealized book value decline. Before turning the call to Nick to go into more details, I would reiterate that we have consistently executed our previously stated objectives and believe we have clear line of sight into more powerful ROEs and EAD as we look ahead into 2026. We have been able to raise our dividend in four of the last six quarters as we continue executing our stated objectives discussed on our last quarter's call. We look forward to continuing to share our progress in the coming quarters.
I'll now turn the call over to Nick.
Thanks, T.J., and thank you everyone for joining us today. We ended the first quarter with an investment portfolio of $8.1 billion. Our activity remained focused on home equity and non-agency credit, where we continue to see attractive risk-adjusted returns and strong structural demand. We securitized approximately $500 million of home equity loans, building on a partnership formed with a market leading home equity originator a few years ago. Home equity remains core to our strategy, and we believe this segment will provide the company compelling opportunities as this residential housing segment continues to grow. In addition to this transaction, we executed another securitization subsequent to quarter end, comprised of approximately $430 million non-agency residential mortgage loans. Importantly, we maintained our disciplined leverage profile. The company's economic leverage stands at a conservative 1.7x.
While we have been able to grow earnings at these leverage ratios, we believe we can prudently move this up over time to drive additional earnings power. The credit performance of the company's residential portfolio continues to be a core strength. Serious delinquencies in our non-agency portfolio stand at just 1.3%, while our home equity portfolio is even lower at 0.4%. The portfolio is comprised of high-quality borrowers with significant equity in their homes. On average, the non-agency and home equity portfolios have a low 60% loan-to-value. On the commercial side, we are seeing positive momentum as we manage our legacy WMC commercial holdings for exit. We are focused on de-risking these positions, which will further free up equity for redeployment in our core strategies. Higher returning residentials. Moving on to Arc Home.
Arc Home has reached a clear inflection point. Despite the macroeconomic headwinds this quarter, Arc Home delivered a meaningful contribution to our EAD of approximately $0.04 per share. We saw continued strength in lock volumes of $1.3 billion, a 25% increase year-over-year, driven by strong non-agency originations. Our decision to increase ownership stake to 56% is starting to pay off as the platform gains market share and improves gain on sale margins. Before handing the call over to Anthony, I'd like to close with some thoughts around our strategy and the macro outlook. We entered the second quarter with significant momentum. While market volatility impacted our book value this period, we see a path to recovery. Since quarter-end, we observed an improving, though admittedly fragile, macroeconomic environment.
If this continues, we expect a return to trends we saw in the earlier parts of this year and believe this environment is likely to lead the market to revisit the heights of the year, which would reverse much, if not all, of the book value decline we saw in Q1. As T.J. mentioned in his remarks, at this point we believe we've already recovered at least 50%. We are well-positioned to navigate this volatility and continue to grow earnings while delivering superior risk-adjusted returns. Anthony, over to you.
Thank you, Nick, and good morning, everyone. During the first quarter, we continued to focus on rotating capital into our home equity portfolio. We successfully executed one home equity loan securitization and maintained our momentum in the securitization markets with an additional deal in April. Importantly, we realized continued strength in our Earnings Available for Distribution or EAD. This performance was supported by earnings growth at Arc Home despite a volatile quarter, which resulted in our EAD once again exceeding our increased dividend level. Reflecting this ongoing improvement in earnings, we announced our fourth dividend increase since the beginning of 2025, raising our quarterly dividend to $0.24 per share. Moving to our financial results. Book value decreased 4.9% to $9.97 per share, resulting in a negative 2.6% economic return when considering our $0.24 dividend.
We reported a GAAP net loss of approximately $8.7 million or $0.27 per share, entirely driven by net unrealized losses on our investment portfolio, which were partially offset by gains on our hedge portfolio and investment in Arc Home. These unrealized losses reflect the March macroeconomic volatility, which drove rates higher and caused spreads to widen. Despite these unrealized losses, which have begun to retrace in April, the company's operating performance remained strong, delivering durable net interest income, earnings growth at Arc Home, and a controlled expense load, all of which supported our increased dividend and demonstrate the embedded value of our strategy. EAD of $0.26 per share increased from the prior quarter and fully covered our $0.24 dividend.
Net interest income, including hedge income, was $0.67, which exceeded $0.45 of operating expenses and preferred dividends to generate net earnings of $0.22 per share. Arc Home contributed an additional $0.04 to EAD, driven by continued strength in origination volumes and improved gain on sale margins. While the performance of our investment portfolio and Arc Home delivered a double-digit ROE on book value, we see meaningful upside as we optimize the balance sheet. Specifically, the deployment of liquidity from unlevered home equity loans and the resolution of non-accrual commercial loans represent clear catalysts to deploy capital into higher yielding residential investments, further enhancing shareholder returns. Lastly, we ended the quarter with approximately $100 million in total liquidity, consisting of $49 million in cash, $50 million of committed financing on unlevered home equity loans, and $1 million of unencumbered agency RMBS.
This concludes our prepared remarks, and we'd now like to open the call for questions. Operator?
Thank you. At this time, if you would like to ask a question, please press star one on your telephone keypad now. To withdraw yourself from the queue, you may press star two. Again, to ask a question that is star one on your telephone keypad. We'll take our first question from Doug Harter with BTIG. Your line is open. Please go ahead.
Thanks. Can you talk about your, you know, your thoughts on, you know, on continuing to increase the dividend versus, you know, some ability to retain some capital, just given your commentary that you expect, you know, further upside in earnings power?
Doug, it's T.J. Good to hear from you. I think we're running, you know, fairly conservative economic leverage. In terms of, you know, having excess liquidity for, you know, margin call risk, I think we've done a good job of alleviating a cash drag. As we think about growing earnings power, you know, continuing to rotate the equity out of the CRE loans, which I'm happy to talk about, and then, you know, other capital rotation from, you know, potentially calling seasoned deals, et cetera. I mean, I think we see a pretty linear path of how to rotate capital without needing to reserve a ton for other purposes.
Right. I mean, right. I guess just as you think about that increased earnings power, how do you think about how much of that kind of gets passed through the dividend versus how much of that could be retained to support future growth?
I mean, I think we're looking to, you know, continue to pass that through to our shareholders in the form of the dividend and satisfy the retest.
Great. Appreciate that. T.J., if I could take you up on your offer to kind of talk a little bit more about the CRE loans and, you know, kind of how we should think about the timing of resolution there and, you know, freeing up that capital.
Yes. I think big picture, we're making good progress on the remaining assets. It's, you know, taking longer than any of us would like. I think this is evident. The progress is evident. We've been able to extend our facility with our lender out six months. We have clean financing through September this year. From an asset perspective, I really, you know, sort of break it up into three distinct situations. The retail asset sale process is moving along nicely. We would hope to have much more detailed information to share with you on next quarter's call. Two of the four hotel assets have assigned LOI, and we're progressing accordingly, albeit behind probably where the retail asset process is.
I think the last two hotel assets are gonna, you know, be behind that and take a bit longer. We're working, you know, through those locations and hope to have them sort of wrapped up by the end of this year. It may drift into 2027 for the last two.
Great. Appreciate it. Thank you.
Thank you. We'll move next to Marissa Lobo with UBS. Your line is open.
Thank you. Good morning. Could you give us some more information on miscibility exercise call rights? Much of that remains to be executed. You know, how do you feel about current risk?
Thanks for your question, Marissa. As we've stated in previous prepared remarks and Q&A historically, a lot of that has to do with outright levels of spreads and interest rates. Over the last quarter, we saw a retracement to higher rates, higher volatility, higher spreads into the beginning of this quarter. We've gotten a good amount of that back. Maybe not completely in the front end of the curve. All these elements play into what the economics on calling transactions. We're not gonna hold out for every last penny. We'll look for stabilization of the market, which is happening pretty quickly. You know, hopefully we have good news in the coming quarters on actually executing on them. That's sort of the path forward from there. If that answers your question.
It does. Thank you. Could you also expand on the opportunity in agency eligible loans? You know, what is your outlook there for volume and aggregate agency and returns?
I mean, on the agency-eligible side, we've done a decent amount of this issuance, in previous years, previous quarters. You know, a lot of our focus has really been more on higher returning opportunities in the non-agency and home equity space. There's still compelling opportunities, although less compelling in our, in our view. You know, there have been market adjustments that have entered that space with lower cost of capital, which maybe makes it a little bit less interesting, to ourselves. That being said, I do expect to see others continue to grow and participate in that market, marketplace.
Thank you. Appreciate the color.
Thank you. We'll move on now to Crispin Love with Piper Sandler. Your line is now open.
Thank you. Good morning. I have a follow-up on the earnings power and ROEs you're generating, I think roughly 10% core ROE today. I'm curious where you think that could trend, what ROE targets are attainable and over what time frame as ARC continues to be a larger contributor to EAD and as you rotate capital into higher return resi investments as the WMC investments mature.
Yeah. Thanks for the question and thanks for dialing in. This is Nick. When you think about, you know, growing the ROE of the company, it's gonna be derived from three primary sources, which we've, you know, said over previous quarters. Really, you know, the returning of equity capital in the commercial book, growing ROEs at Arc Home and then the calls. All of that gives us line of sight into sort of achieving the ROEs that are being achieved across the broader business as we just have disclosed in the earning presentation. That's really the path forward is really just taking those pockets and redeploying capital. Obviously in Arc Home side that's less of a redeployment story. We believe that there's strong momentum there and we expect that to continue.
Okay. Great. Just on Arc Home, can you discuss a little bit what you've seen so far in the second quarter, just high-level trends, volumes and mortgage rates. Mortgage rates peaked around quarter end have improved since, improved a bit since then. Getting into a little bit of a seasonally more conducive environment for mortgage, but still a little bit of a challenging factor. Just curious, where you stand right now on Arc Home and trends you're seeing?
Yeah. Normalizing for the seasonality may be slightly below budget, but it's still early. You know, we're still seeing, you know, gains, maybe that just, you know, speaks to our ambition of our budget there. There has been a lot of healing. The gain on sales have been healthy. The expectation is that the budgeted volumes will normalize and achieve what we originally penciled out. You know, early signs are good for Q2. As you alluded to, obviously, you know, seasonally, this is an important part of the year for them.
Great. Appreciate it. Thanks for taking the question.
Thank you. We'll move next to Bose George with KBW. Your line is open.
Thank you. Good morning. This is Frank Gilliam on for Bose. I just wanted to start with a follow-up on the commercial discussion. Do you think we could expect an additional marks on some of the sales? They're continuing to be ongoing, but any color there would be great.
Yes. I think as we continue to go through the sales process, get more information from the market, I think we're generally reflecting that in the current valuation. Barring surprises, I would say the answer is no.
Okay, great. Pivoting to the home equity notes. You scaled it nicely over the past two quarters. Trying to think about how large can that get as a percentage of portfolio. You know, you note 29% ROEs. Are those returns still available on new production today? Where's the best risk-adjusted returns in that market today? Thanks.
Yeah. Thanks, Frank. This market has expanded pretty, you know, with a good pace, call it 25% a year, really in earnest since 2023. We expect that pace to continue or to accelerate. We expect it to be the largest non-agency or securitized product non-agency sector, in this, you know, at some point this year, if not next. We still think there's a lot of runway for the opportunity. From a return standpoint, while there is increased competition, it's not nearly as competitive as other segments of the non-agency market, and that's despite its performance having been a standout versus the broader non-agency market. We still continue to see a good amount of opportunity in this segment. From a deployable capital standpoint, you know, we don't have any concerns on being able to recycle capital into this segment from MIT.
Great. Thank you.
Thank you. We'll take our next question from Trevor Cranston with Citizens. Your line is now open.
Hey, thanks. There's been some reports about, you know, increasing delinquency levels in some of the recent vintage non-QM products. Can you guys comment specifically on, you know, your non-QM segment of the portfolio or if you guys are seeing any sort of deterioration in performance or just an update there would be great. Thanks.
Yeah. One, the sort of underperformance of non-QM is less relevant to MIT given our transitioning over to other segments, you know, over two years ago. You know, most notably really the agency-eligible segment and then the home equity segment. Our agency-eligible book is performing better than prime jumbo, which is shocking to say out loud, but that's a fact. Our home equity segment, the delinquencies are, you know, less than a quarter of the delinquencies of the broader non-QM market, which is where most of the concern is. MIT as a vehicle is inflated versus sort of the underperformance versus underwrite. You know, we still are constructive broadly in the non-QM space.
I think it's worth noting that generally our credit selection has been tighter than the broader universe, which is driving some of that outperformance. You know, we don't view our book as a comp versus other folks. You know, over the years, like, there's been some, you know, degradation in performance for various reasons. We don't see MIT as it being exposed to that.
Okay. Great. Appreciate the comments. Thank you.
Thank you. Once again, if you would like to ask a question, please press the star then one on your telephone keypad now. We'll move on to Jason Weaver with Jones Trading. Your line is open.
Hi, guys. Good morning. I was just curious about the 9.5% notes due 2029. Those are obviously the most expensive part of the capital stack right now. It's three years out, but I believe they've become callable relatively shortly. With your EAD coverage, tell us how you're thinking about maybe doing a refinancing tender partial pay down. Any thoughts there?
No, I mean, we're always evaluating the entire capital structure. To your point, they are coming callable. There's two separate notes that were issued not too far away from each other and they'll be coming up later this year. To the extent rates in the market move in the right direction, we'll certainly be looking to explore refinancing or de-levering those.
Got it. Thanks. Then on just overall purchase activity. Your volume this quarter was well below, you know, the fourth quarter, I think $87 million versus $284 million or so. Is that more of a strategic or a timing issue over time? Were you waiting for wider spreads to get involved or can you talk about that a bit?
It's a little more complicated than that. While the portfolio decreased on a GAAP basis, it's really because the structures for the most recent transactions result in the company not consolidating these deals. You know, had we consolidated those deals, we actually would've had modest growth. I think, you know, there's a little bit of form over substance, you know, given those nuances.
All right. That makes sense. Thank you for that color.
Thank you. At this time, there are no further questions in queue, and I'll turn the meeting back to our hosts for any closing comments.
Thank you to everyone for joining us this morning and for your questions. We appreciate it and look forward to speaking with you again next quarter. Have a great day.
Thank you. This brings us to the end of today's meeting. We appreciate your time and participation. You may now disconnect.
Investor releaseQuarter not tagged2026-04-23TPG Mortgage Investment Trust, Inc. Schedules First Quarter 2026 Earnings Release and Conference Call
Business Wire
TPG Mortgage Investment Trust, Inc. Schedules First Quarter 2026 Earnings Release and Conference Call
NEW YORK, April 22, 2026--(BUSINESS WIRE)--TPG Mortgage Investment Trust, Inc. (NYSE: MITT) (the "Company") announced today that it will release first quarter 2026 financial results prior to market open on Wednesday, April 29, 2026. The Company will host a conference call to discuss the results on Wednesday, April 29, 2026, at 8:30 a.m. Eastern Time. To participate in the call by telephone, please dial (800) 274-8461 at least five minutes prior to the start time. International callers should dial (203) 518-9814. The Conference ID is MITTQ126. To listen to the live webcast of the conference call, please go to https://event.on24.com/wcc/r/5302841/31918301826EBF67096CFE9F82ADCD5E and register using the same Conference ID. A presentation will accompany the conference call and will be available prior to the call on the Company’s website, www.mitt.tpg.com, under "Presentations" in the "News & Presentations" section. For those unable to listen to the live call, an audio replay will be available on April 29, 2026 through 9:00 a.m. Eastern Time on May 29, 2026. To access the replay, please go to the Company’s website at www.mitt.tpg.com. About TPG Mortgage Investment Trust, Inc. TPG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. The Company is externally managed and advised by AG REIT Management, LLC, an affiliate of TPG Inc. (NASDAQ: TPG). Additional information can be found on the Company’s website at www.mitt.tpg.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260422162641/en/ Contacts TPG Mortgage Investment Trust, Inc. Investor Relations (212) 692-2110 [email protected]
Investor releaseQuarter not tagged2026-04-23Ladder Capital (LADR) Matches Q1 Earnings Estimates
Zacks
Ladder Capital (LADR) Matches Q1 Earnings Estimates
Ladder Capital (LADR) came out with quarterly earnings of $0.22 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.2 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -1.48%. A quarter ago, it was expected that this commercial real estate mortgage origination and finance company would post earnings of $0.23 per share when it actually produced earnings of $0.21, delivering a surprise of -8.7%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Ladder Capital, which belongs to the Zacks REIT and Equity Trust industry, posted revenues of $51.88 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 0.71%. This compares to year-ago revenues of $51.2 million. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Ladder Capital shares have lost about 6.7% since the beginning of the year versus the S&P 500's gain of 4.3%. While Ladder Capital has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Ladder Capital was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the comple...
Investor releaseQuarter not tagged2026-04-18How The TPG Mortgage Investment Trust (MITT) Story Is Evolving Around Earnings And Valuation
Simply Wall St.
How The TPG Mortgage Investment Trust (MITT) Story Is Evolving Around Earnings And Valuation
Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. The updated US$9 price target for TPG Mortgage Investment Trust now aligns with the recent Street reset for mortgage REITs that are meeting earnings expectations and focusing on consistent distributable income. This level is part of a broader conversation about how durable earnings and disciplined capital allocation can support valuation ranges across the sector. As you read on, you will see how this evolving analyst narrative may shape the way you track TPG Mortgage Investment Trust from here. Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value TPG Mortgage Investment Trust. JonesResearch recently raised its price target on AG Mortgage Investment Trust to US$9 from US$8.50, signaling that some coverage is becoming more comfortable with this valuation range for mortgage REITs that are aligned with earnings expectations. In the same JonesResearch note, the firm highlighted earnings available for distribution that were above Q4 estimates for AG Mortgage. This supports the broader idea that meeting or slightly exceeding distributable income expectations can help underpin current price targets around US$9. The limited amount of recent Street commentary referenced here for mortgage REIT peers, such as AG Mortgage at JonesResearch and Citizens, suggests that coverage can be relatively thin. This may leave investors with fewer external datapoints when assessing how durable earnings and book value trends are for names like TPG Mortgage Investment Trust. Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives! We've flagged 3 risks for TPG Mortgage Investment Trust. See which could impact your investment. TPG Mortgage Investment Trust declared a first quarter 2026 common dividend of US$0.24 per share, compared with the prior quarter dividend of US$0.23 per share, payable on April 30, 2026 to shareholders of record on March 31, 2026. From October 1, 2025 to December 31, 2025, the company reported no share repurchases under the buyback program announced on August 3, 2022. This program was completed at 2,347,795 shares for US$13.54m, representing 10.82% of sha...
Investor releaseQuarter not tagged2026-04-04How The Story Is Shifting For TPG Mortgage Investment Trust (MITT) On Valuation And Earnings
Simply Wall St.
How The Story Is Shifting For TPG Mortgage Investment Trust (MITT) On Valuation And Earnings
Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. The fair value estimate for TPG Mortgage Investment Trust is trimmed from US$9.75 to US$9.50, a modest US$0.25 move that still keeps the updated target close to prior expectations. Street commentary around mortgage REIT peers, where some companies are receiving higher price targets as earnings visibility improves, helps explain why this adjustment is restrained rather than a sharp reset. As you read on, you will see how to track this evolving analyst narrative and what it might mean for your own research on TPG Mortgage Investment Trust. Analyst Price Targets don't always capture the full story. Head over to our Company Report to find new ways to value TPG Mortgage Investment Trust. Recent moves at peers such as AG Mortgage show JonesResearch lifting its price target to US$9 from US$8.50 after earnings available for distribution exceeded Q4 estimates, which signals that some analysts are comfortable recognizing stronger fundamentals in the mortgage REIT space. Citizens also raised its price target on AG Mortgage by US$0.75, which reinforces the idea that, when earnings and distribution profiles line up with expectations, analysts are willing to support higher valuations for similar structures. For your TPG Mortgage Investment Trust work, these peer actions suggest that research desks are actively revisiting models and payout assumptions rather than leaving targets static. Even with upward revisions at AG Mortgage, the absolute price target level of US$9 from JonesResearch and the US$0.75 lift cited by Citizens still appear restrained, which can remind you that analysts may be cautious on how far valuations stretch for mortgage REITs. Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives! We've flagged 3 risks for TPG Mortgage Investment Trust. See which could impact your investment. The Board of Directors declared a first quarter 2026 dividend of US$0.24 per common share, compared with the prior quarter dividend of US$0.23 per share. The dividend is payable on April 30, 2026 to shareholders of record on March 31, 2026. From October 1, 2025 to December 31, 2025, the company reported no share repurchases under t...
Investor releaseQuarter not tagged2026-03-17TPG Mortgage Investment Trust, Inc. Increases Quarterly Common Dividend 4.3% to $0.24 per Share
Business Wire
TPG Mortgage Investment Trust, Inc. Increases Quarterly Common Dividend 4.3% to $0.24 per Share
NEW YORK, March 16, 2026--(BUSINESS WIRE)--TPG Mortgage Investment Trust, Inc. (NYSE: MITT) (the "Company") announced today that its Board of Directors declared a dividend of $0.24 per common share for the first quarter 2026, representing a 4.3% increase over the prior quarter dividend of $0.23 per common share. The dividend is payable on April 30, 2026, to shareholders of record at the close of business on March 31, 2026. "We are pleased to announce a 4.3% increase in our common stock dividend to $0.24 per share, marking an alignment with MITT’s growing earnings power and increased profitability at Arc Home," said TJ Durkin, Chief Executive Officer and President. "We are focused on our capital rotation and growth initiatives for 2026 and believe that our continued execution of these objectives will drive long-term value for shareholders." About TPG Mortgage Investment Trust, Inc. TPG Mortgage Investment Trust, Inc. is a residential mortgage REIT with a focus on investing in a diversified risk-adjusted portfolio of residential mortgage-related assets in the U.S. mortgage market. The Company is externally managed and advised by AG REIT Management, LLC, an affiliate of TPG Inc. (NASDAQ: TPG). Additional information can be found on the Company’s website at www.mitt.tpg.com. Forward-Looking Statements This press release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with the safe harbor provisions. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "should," "may," "projects," "could," "continue" or variations of such words and other similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature, but not all forward-looking statements include such identifying words. Forward-looking statements regarding the Company include, but are not limited to, statements regarding the Company’s ability to drive long-term value for shareholders and the amount and timing of dividends, including whethe...
Investor releaseQuarter not tagged2026-02-18AG Mortgage Investment Trust, Inc. Q4 2025 Earnings Call Summary
Moby
AG Mortgage Investment Trust, Inc. Q4 2025 Earnings Call Summary
Achieved industry-leading total shareholder returns of 42% in 2025 by executing a disciplined programmatic securitization strategy and optimizing legacy liabilities. Successfully transitioned the portfolio by rotating capital out of legacy WMC residential and commercial exposures into higher-yielding home equity and agency-eligible strategies. Optimized the balance sheet by refinancing high-cost 11.5% structured repo debt, unlocking $55 million in equity for reinvestment into core strategies. Maintained a conservative economic leverage profile of 1.6 turns, significantly lower than industry peers, while growing the investment portfolio by 27% year-over-year. Attributed dividend growth of over 21% to the return to profitability at Arc Home and the successful execution of 10 securitizations totaling $4.2 billion. Leveraged the 'TPG Advantage' to access specialized data science, technology, and a vast network of nonbank originators for superior sourcing and risk-adjusted returns. Management aims to resolve remaining legacy WMC commercial real estate loans in the first half of 2026, freeing up $28 million in equity for higher ROE investments. Plans to aggressively exercise call rights on 2022 and 2023 vintage securitizations, targeting the rotation of approximately $35 million of equity to drive EAD upside. Expects Arc Home to be a primary earnings driver in 2026, following its strongest month of profitability in January with earnings exceeding $1 million. Anticipates further margin expansion at Arc Home as it gains market share in the expanding non-QM mortgage sector. Strategy focuses on redeploying capital into home equity and agency-eligible credits, which management views as the most attractive risk-adjusted opportunities. Approximately $28 million of equity remains tied up in nonaccrual legacy WMC CRE loans, currently acting as a drag on ROE until disposition. Identified potential headwinds associated with being a smaller-cap company, though management believes strategic objectives outweigh these risks. Noted that faster prepayment speeds on older residuals could offset some benefits of tighter credit spreads when executing future securitization calls. Reported that January book value remained approximately flat following a stable fourth quarter. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll...
Investor releaseQuarter not tagged2026-02-18AG Mortgage Investment Trust Q4 Earnings Call Highlights
MarketBeat
AG Mortgage Investment Trust Q4 Earnings Call Highlights
Book value and dividends: Book value was stable at $10.48 and fourth‑quarter EAD of $0.25 covered the $0.23 dividend (full‑year EAD $0.86 covered $0.85), with management raising the quarterly dividend three times in 2025 for a cumulative increase of over 21%. Portfolio growth and securitizations: The investment portfolio grew 27% to $8.5 billion after more than $3 billion of loan purchases in 2025 and $4.2 billion of securitizations (including $2.4 billion of home‑equity deals), while maintaining a conservative leverage profile of about 1.6 turns. Arc Home turnaround and capital rotation plans: Arc Home returned to profitability in 2H25, contributing positively to EAD and showing strong early‑2026 momentum, and management intends to exercise call rights and resolve legacy WMC assets to rotate roughly $35 million of equity (potentially ~ $0.20 annualized) into higher‑ROE strategies. Interested in AG Mortgage Investment Trust, Inc.? Here are five stocks we like better. TPG Mortgage Investment Trust reported fourth-quarter and full-year 2025 results that management said reflected continued execution of its core strategy despite a challenging macroeconomic backdrop. On the call, executives highlighted stable book value, dividend growth, and ongoing rotation of capital into what they described as higher-returning residential credit strategies, alongside improved performance at portfolio company Arc Home. CEO and President T.J. Durkin said fourth-quarter book value per share was “stable,” rising to $10.48 from $10.46. The company generated earnings available for distribution (EAD) of $0.25 per share for the quarter, which covered the most recently declared $0.23 dividend. Including the newly declared dividend, Durkin said the company produced an economic return on equity of 2.4% for the quarter. He added that book value was “approximately flat” for January, though he cautioned it was too early to comment on the process for February. → Whale Watching: BlackRock’s Massive Bet on Nebius Group Chief Financial Officer Anthony Rossiello said GAAP net income available to common shareholders was $8 million, or $0.25 per share, “primarily driven by EAD,” with net unrealized gains partially offset by transaction-related expenses largely tied to securitization activity. Rossiello also said net interest income increased 4% sequentially in the fourth quarter, which he attribut...