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TPG Mortgage Investment Trust, Inc. operates as a residential mortgage real estate investment trust in the United States. Its investment portfolio comprises residential investments, such as non-agency loans, agency-eligible loans, home equity loans, re-and non-performing loans, and non-agency residential mortgage-backed securities, as well as commercial loans and commercial mortgage-backed securities. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. TPG Mortgage Investment Trust, Inc. was formerly known as AG Mortgage Investment Trust, Inc. and changed its name to TPG Mortgage Investment Trust, Inc. in December 2025. The company was incorporated in 2011 and is based in New York, New York. TPG Mortgage Investment Trust, Inc. operates as a subsidiary of TPG Inc.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $76M | - | $49M | $60M | 8.7% | 0.5% | -12.7% |
| 2024 | $75M | - | $56M | $56M | 10.3% | 37.1% | 3.6% |
| 2023 | $55M | - | $54M | $28M | 10.2% | - | - |
| 2022 | $-7M | - | $-53M | $23M | -11.5% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | -7.41 | 54.92 | 75.32 | 75.67 |
| Pretax Income | -42.84 | 55.17 | 55.85 | 49.56 |
| Tax Provision | 0 | 0 | 0.11 | 0.89 |
| Net Income | -53.10 | 53.78 | 55.74 | 48.67 |
| Net Income Common Stockholders | -71.44 | 35.44 | 36.38 | 27.43 |
| Interest Expense | 118.92 | 212.50 | 342.60 | 403.80 |
| Interest Income | 180.30 | 260.33 | 408.50 | 480.33 |
| Selling General And Administration | 1.92 | 1.83 | 2.42 | 2.14 |
| Normalized Income | -36.63 | 38.68 | 58.89 | 55.84 |
| Basic EPS | -3.12 | 1.68 | 1.23 | 0.90 |
| Diluted EPS | -3.12 | 1.68 | 1.23 | 0.90 |
| Tax Effect Of Unusual Items | 0 | 4.01 | -0.01 | -0.13 |
| Tax Rate For Calcs | 0 | 0.21 | 0 | 0.02 |
| Total Unusual Items | -16.47 | 19.11 | -3.16 | -7.30 |
| Total Unusual Items Excluding Goodwill | -16.47 | 19.11 | -3.16 | -7.30 |
| Net Income From Continuing Operation Net Minority Interest | -53.10 | 53.78 | 55.74 | 48.67 |
| Net Interest Income | 61.38 | 47.83 | 65.89 | 76.53 |
| Net Income From Continuing And Discontinued Operation | -53.10 | 53.78 | 55.74 | 48.67 |
| Diluted Average Shares | 22.89 | 21.10 | 29.51 | 30.56 |
| Basic Average Shares | 22.89 | 21.09 | 29.49 | 30.54 |
| Diluted NI Availto Com Stockholders | -71.44 | 35.44 | 36.38 | 27.43 |
| Otherunder Preferred Stock Dividend | 0 | 0 | 0 | 0 |
| Preferred Stock Dividends | 18.34 | 18.34 | 19.35 | 21.24 |
| Net Income Including Noncontrolling Interests | -53.10 | 53.78 | 55.74 | 48.67 |
| Net Income Discontinuous Operations | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | -53.10 | 53.78 | 55.74 | 48.67 |
| Earnings From Equity Interest Net Of Tax | -10.26 | -1.39 | 3.14 | 0 |
| Special Income Charges | -16.47 | 19.11 | -3.16 | -7.30 |
| Restructuring And Mergern Acquisition | 16.47 | -19.11 | 3.16 | 7.30 |
| Gain On Sale Of Security | 481.78 | -83.90 | -25.71 | -160.70 |
| General And Administrative Expense | 1.92 | 1.83 | 2.42 | 2.14 |
| Other Gand A | 8.10 | 0 | 0 | 0 |
| Insurance And Claims | 1.24 | 1.09 | 1.26 | 1.02 |
| Salaries And Wages | 0.68 | 0.74 | 1.16 | 1.12 |
| Operating Revenue | -7.41 | 54.92 | 75.32 | 75.67 |
| Professional Expense And Contract Services Expense | 1.99 | 2.19 | 1.60 | 1.59 |
| Other Non Interest Expense | 15.05 | 14.84 | 15.43 | 17.91 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| TPG Mortgage Investment Trust, Inc.this co. | MITT | $244M | 18.31↑ premium | 0.72 | 8.7% | - |
| Ares Commercial Real Estate Corporation | ACRE | $287M | - | 0.56 | -0.2% | - |
| SITE Centers Corp. | SITC | $287M | 1.63 | 0.86 | 53.1% | 4.74 |
| Seaport Entertainment Group Inc. | SEG | $286M | - | 0.62 | -25.0% | -5.37 |
| BRT Apartments Corp. |
| BRT |
| $268M |
| - |
| 1.51 |
| -6.7% |
| 14.41 |
| NexPoint Diversified Real Estate Trust | NXDT | $254M | - | 0.36 | -17.3% | 37.13 |
| Stratus Properties Inc. | STRS | $241M | 20.30 | 1.18 | 3.5% | -38.77 |
| Angel Oak Mortgage REIT, Inc. | AOMR | $225M | 5.02 | 0.84 | 16.5% | - |
| American Realty Investors, Inc. | ARL | $222M | 14.18 | 0.36 | - | 99.05 |
| Peer Median | - | 9.60 | 0.73 | -0.2% | 9.58 | |