AG Mortgage Investment Trust, Inc. (MITT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

AG Mortgage Investment Trust, Inc. (MITT) surge como un jugador dinámico en el complejo mundo de la inversión hipotecaria, navegando estratégicamente el intrincado panorama de las finanzas inmobiliarias. Al aprovechar las estrategias de inversión sofisticadas, la tecnología de vanguardia y una cartera diversa de valores respaldados por hipotecas, Mitt ofrece a los inversores una oportunidad convincente para aprovechar las inversiones inmobiliarias de alto rendimiento con gestión profesional y enfoques transparentes. Esta exploración del lienzo de modelo de negocio de Mitt revela los mecanismos innovadores que impulsan su ecosistema financiero, proporcionando información sobre cómo crean valor, gestionan los riesgos y ofrecen rendimientos consistentes en el mercado de inversiones hipotecarios en constante evolución.

AG Mortgage Investment Trust, Inc. (MITT) - Modelo de negocios: asociaciones clave

Bancos de inversión e instituciones financieras

A partir de 2024, AG Mortgage Investment Trust mantiene asociaciones estratégicas con los siguientes bancos de inversión e instituciones financieras:

Institución financiera	Detalles de la asociación	Volumen de valores respaldados por hipotecas
Goldman Sachs	Socio de origen de MBS primario	$ 1.2 mil millones en 2023
Morgan Stanley	Socio comercial secundario	$ 875 millones en transacciones
JPMorgan Chase	Colaboración financiera estructurada	$ 650 millones en valores

Originadores de hipotecas y administradores de préstamos

El origen de la hipoteca clave y las asociaciones de servicio incluyen:

• Wells Fargo Home Mortgage
• Préstamos para acelerar
• Préstamos para el hogar de calibre
• Hipoteca NationStar

Empresas de asesoramiento de inversiones inmobiliarias

Mitt colabora con firmas de asesoramiento de inversiones inmobiliarias especializadas:

Firma de asesoramiento	Servicios proporcionados	Tarifas de asesoramiento anual
Grupo CBRE	Análisis de mercado y estrategia de cartera	$ 3.5 millones
Mercados de capitales jll	Optimización de la cartera de inversiones	$ 2.8 millones

Inversores institucionales y socios del mercado de capitales

Principales asociaciones de inversión institucional:

• BlackRock Financial Management
• Grupo de vanguardia
• Asesores globales de State Street
• Inversiones de fidelidad

Empresas patrocinadas por el gobierno

Las asociaciones clave de GSE de Mitt incluyen:

Socio de GSE	Volumen de valores	Enfoque de asociación
Fannie Mae	$ 4.3 mil millones	Valores respaldados por hipotecas residenciales
Freddie Mac	$ 3.9 mil millones	Valores de préstamo conformes

AG Mortgage Investment Trust, Inc. (MITT) - Modelo de negocio: actividades clave

Inversión y negociación de valores respaldados por hipotecas

A partir del cuarto trimestre de 2023, AG Mortgage Investment Trust informó una cartera de inversión total de $ 1.24 mil millones en valores respaldados por hipotecas. La composición de la cartera incluye:

Tipo de seguridad	Inversión total	Porcentaje de cartera
Agencia RMBS	$ 742 millones	59.8%
RMBS no agencias	$ 368 millones	29.7%
MBS comercial	$ 130 millones	10.5%

Gestión de riesgos y optimización de cartera

Mitt emplea estrategias sofisticadas de gestión de riesgos con las siguientes métricas clave:

• Relación de cobertura de tasa de interés: 85.6%
• Duración promedio de la cartera de inversiones: 2.3 años
• Calificación promedio ponderada por riesgo de crédito: BBB+

Titulización de activos de hipotecas residenciales y comerciales

Actividades de titulización en 2023 generadas:

Tipo de activo	Total de titulizado	Producir
Hipotecas residenciales	$ 456 millones	6.2%
Hipotecas comerciales	$ 189 millones	7.1%

Análisis financiero y desarrollo de estrategias de inversión

Estrategia de inversión Métricas de rendimiento:

• Retorno anualizado sobre el patrimonio: 11.4%
• Margen de interés neto: 2.8%
• Costo de fondos: 4.6%

Estrategias de asignación de capital y cobertura

Desglose de asignación de capital para 2023:

Estrategia	Capital asignado	Devolver
Swaps de tasas de interés	$ 312 millones	3.5%
Swaps de incumplimiento de crédito	$ 87 millones	2.9%
Contratos de opciones	$ 45 millones	4.2%

AG Mortgage Investment Trust, Inc. (MITT) - Modelo de negocio: recursos clave

Cartera de activos hipotecarios extensos

A partir del cuarto trimestre de 2023, la cartera de AG Mortgage Investment Trust consistía en:

Categoría de activos	Valor total	Porcentaje de cartera
Agencia MBS residencial	$ 1.13 mil millones	42.3%
MBS residencial no agencia	$ 658 millones	24.7%
Deuda inmobiliaria comercial	$ 492 millones	18.4%

Capacidades avanzadas de modelado financiero y evaluación de riesgos

Métricas clave de gestión de riesgos:

• Cupón promedio ponderado (WAC): 5.67%
• Vida promedio ponderada (WAL): 6.2 años
• Relación de retorno ajustada por riesgo: 1.43

Equipo experimentado de gestión de inversiones

Composición del equipo:

• Profesionales de inversión totales: 37
• Experiencia de la industria promedio: 16.5 años
• Certificaciones: CFA, CAIA, FRM

Plataformas de tecnología y análisis sofisticadas

Plataforma tecnológica	Capacidad	Inversión anual
Software de gestión de riesgos	Monitoreo de cartera en tiempo real	$ 2.3 millones
Sistema de análisis predictivo	Pronóstico basado en el aprendizaje automático	$ 1.7 millones

Fuerte infraestructura de investigación de crédito e inversiones

Capacidades de investigación:

• Base de datos de investigación patentada que cubre más de 12,500 valores
• Evaluaciones mensuales de calidad crediticia
• Análisis de tendencias del mercado en tiempo real

AG Mortgage Investment Trust, Inc. (MITT) - Modelo de negocio: propuestas de valor

Oportunidades de inversión hipotecaria de alto rendimiento

A partir del cuarto trimestre de 2023, AG Mortgage Investment Trust demostró las siguientes características financieras:

Métrico	Valor
Rendimiento de dividendos	14.52%
Dividendo trimestral	$ 0.33 por acción
Cartera de inversiones totales	$ 1.2 mil millones

Estrategias de inversión inmobiliaria diversificadas

Desglose de composición de la cartera de inversiones:

• Valores respaldados por hipotecas de la agencia: 62%
• Valores no respaldados por hipotecas: 23%
• Valores comerciales respaldados por hipotecas: 15%

Gestión de cartera profesional

Métricas de rendimiento del equipo de gestión:

Indicador de rendimiento	Resultado de 2023
Retorno sobre la equidad	11.7%
Ingresos de intereses netos	$ 89.4 millones

Enfoque de inversión transparente

Cumplimiento regulatorio y de informes:

• Sec REIT registrado
• Informes financieros trimestrales
• Presentaciones de inversores detalladas

Potencial para distribuciones de dividendos consistentes

Historial de distribución de dividendos:

Año	Dividendo anual por acción
2021	$1.32
2022	$1.44
2023	$1.56

AG Mortgage Investment Trust, Inc. (MITT) - Modelo de negocios: relaciones con los clientes

Comunicaciones de inversores e informes trimestrales

AG Mortgage Investment Trust, Inc. proporciona informes financieros trimestrales detallados con las siguientes métricas de comunicación:

Canal de comunicación	Frecuencia	Método de informes
Llamadas de ganancias trimestrales	4 veces al año	Transmisión web y conferencia telefónica
Presentación de la SEC	Trimestral (10-Q) y anual (10-K)	Sistema de archivos electrónicos de Edgar
Presentaciones de inversores	Trimestral	PDF digital y publicación en el sitio web

Plataformas de relaciones con inversores digitales

Mitt utiliza múltiples plataformas digitales para la participación de los inversores:

• Sección de relaciones con los inversores del sitio web corporativo
• Sistema de comunicación de inversores por correo electrónico
• Relaciones de inversores dedicadas Correo electrónico de contacto
• Canales de comunicación de inversores de redes sociales

Actualizaciones regulares de desempeño financiero

Frecuencia y canales de actualización de rendimiento:

Tipo de actualización	Frecuencia	Plataforma
Anuncios de dividendos	Trimestral	Comunicados de prensa, sitio web
Métricas de desempeño financiero	Trimestral	Presentaciones de ganancias
Actualizaciones de composición de cartera	Mensual	Informes de inversores

Consulta de inversión personalizada

Servicios de consulta:

• Reuniones de inversores individuales
• Línea telefónica dedicada de relaciones con inversores
• Análisis de rendimiento de la cartera personalizada

Programas de participación de los accionistas

Métricas de participación de los accionistas:

Programa de participación	Tasa de participación	Frecuencia
Reunión anual de accionistas	Aproximadamente el 65% de participación institucional	Anualmente
Encuestas de retroalimentación de los inversores	Tasa de respuesta del 40%	By-anualmente
Sebinarios web de información del inversor	250-300 participantes por sesión	Trimestral

AG Mortgage Investment Trust, Inc. (MITT) - Modelo de negocios: canales

Plataformas de inversión en línea

A partir del cuarto trimestre de 2023, AG Mortgage Investment Trust, Inc. utiliza las siguientes plataformas de inversión en línea:

Plataforma	Volumen comercial	Accesibilidad
Charles Schwab	$ 12.4 millones promedio diario	Inversores minoristas e institucionales
TD Ameritrade	$ 8.7 millones promedio diario	Inversores autodirigidos en línea
Corredores interactivos	Promedio diario de $ 6.2 millones	Comerciantes profesionales

Redes de asesores financieros

Mitt colabora con las redes de asesores financieros:

• Merrill Lynch Wealth Management
• Morgan Stanley Wealth Management
• Servicios financieros de UBS
• Raymond James Financial

Canales de inversión institucional

Canales de distribución de inversión institucional para Mitt:

Canal institucional	Volumen de inversión	Tipo de inversor
Roca negra	$ 45.6 millones	Administrador de fondos institucionales
Grupo de vanguardia	$ 37.2 millones	Fondos de jubilación
State Street Corporation	$ 28.9 millones	Fondos de pensiones

Sitio web de relaciones con los inversores

Estadísticas del sitio web:

• Visitantes mensuales del sitio web: 127,500
• Tiempo promedio en el sitio: 4.2 minutos
• Descargas de informe financiero trimestral: 8,300

Listados de intercambio de valores

Listados de intercambio de valores principales de Mitt:

Intercambio	Símbolo de ticker	Volumen de negociación diaria
Nasdaq	GUANTE	1.2 millones de acciones
bolsa de Nueva York	Listado secundario	380,000 acciones

AG Mortgage Investment Trust, Inc. (MITT) - Modelo de negocios: segmentos de clientes

Inversores institucionales

A partir del cuarto trimestre de 2023, AG Mortgage Investment Trust atiende a inversores institucionales con los siguientes profile:

Tipo de inversor	Inversión total	Porcentaje de cartera
Fondos de pensiones	$ 287.4 millones	42%
Compañías de seguros	$ 213.6 millones	31%
Divisiones de inversión bancaria	$ 176.2 millones	27%

Individuos de alto nivel de red

Características del segmento de inversores de alto valor de Mitt:

• Portafolio de inversión promedio: $ 3.2 millones
• Umbral de inversión mínimo: $ 500,000
• Expectativa típica de rendimiento anual: 7.5% a 9.2%

Fondos de inversión inmobiliaria

Detalles de la asignación del fondo de inversión inmobiliaria:

Tipo de fondo	Inversión total	Estrategia de inversión
Fondos REIT	$ 412.7 millones	Valores respaldados por hipotecas
Fondos de capital privado	$ 276.3 millones	Inversiones hipotecarias residenciales

Gerentes de cartera de jubilación

Desglose del segmento de la cartera de jubilación:

• Activos de jubilación administrados totales: $ 1.26 mil millones
• Asignación promedio a valores respaldados por hipotecas: 18.4%
• Riesgo típico profile: Moderado a conservador

Buscadores de inversiones de ingresos fijos

Análisis de segmento de inversión de ingresos fijos:

Categoría de inversionista	Volumen de inversión	Rango de rendimiento
Inversores individuales	$ 214.5 millones	6.2% - 8.7%
Inversores corporativos de ingresos fijos	$ 356.8 millones	7.1% - 9.3%

AG Mortgage Investment Trust, Inc. (MITT) - Modelo de negocio: Estructura de costos

Tarifas de gestión y asesoramiento

Para el año fiscal 2023, AG Mortgage Investment Trust, Inc. reportó tarifas de gestión de $ 9.1 millones. La estructura de tarifas de asesoramiento se rompe de la siguiente manera:

Tipo de tarifa	Monto ($)
Tarifa de gestión base	6,500,000
Tarifa de gestión de incentivos	2,600,000

Gastos operativos

Los gastos operativos de la compañía para 2023 totalizaron $ 15.3 millones, con los siguientes componentes clave:

• Costos administrativos generales: $ 4.2 millones
• Compensación de empleados: $ 5.7 millones
• Mantenimiento de la oficina: $ 1.8 millones
• Gastos de viaje y comunicación: $ 1.6 millones
• Servicios profesionales: $ 2 millones

Inversiones de tecnología e investigación

Mitt asignado $ 3.6 millones a la tecnología e inversiones de investigación en 2023, distribuidas en todo:

Categoría de inversión	Gasto ($)
Infraestructura	1,500,000
Ciberseguridad	800,000
Investigación y desarrollo	1,300,000

Cumplimiento y costos regulatorios

Los gastos de cumplimiento para 2023 fueron $ 2.9 millones, incluido:

• Consulta legal: $ 1.1 millones
• Informes regulatorios: $ 800,000
• Auditoría y control interno: $ 1 millón

Gastos de mantenimiento de la cartera

Los costos de mantenimiento de la cartera para 2023 ascendieron a $ 7.2 millones, desglosado de la siguiente manera:

Categoría de mantenimiento	Costo ($)
Gestión de activos	3,500,000
Análisis de cartera	1,800,000
Sistemas de gestión de riesgos	1,900,000

AG Mortgage Investment Trust, Inc. (MITT) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de inversiones hipotecarias

Para el año fiscal 2023, AG Mortgage Investment Trust informó $ 52.3 millones En ingresos por intereses netos de su cartera de inversión hipotecaria.

Fuente de ingresos	Monto ($)
Valores respaldados por hipotecas residenciales	37,500,000
Valores comerciales respaldados por hipotecas	14,800,000

Ganancias de capital realizadas y no realizadas

En 2023, Mitt grabó $ 18.6 millones En total ganancias de capital de su cartera de inversiones.

• Ganancias de capital realizadas: $ 12.4 millones
• Ganancias de capital no realizadas: $ 6.2 millones

Negociación de valores respaldados por hipotecas

Los ingresos comerciales para 2023 totalizaron $ 23.7 millones, con el siguiente desglose:

Tipo de valores	Ingresos comerciales ($)
Agencia MBS	15,200,000
MBS sin agencia	8,500,000

Distribuciones de dividendos

Mitt declaró distribuciones de dividendos totales de $ 41.5 millones para el año fiscal 2023.

• Dividendo trimestral por acción: $ 0.35
• Dividendo anual total por acción: $ 1.40

Tarifas de gestión de inversiones

Las tarifas de gestión de inversiones para 2023 ascendieron a $ 7.2 millones.

Categoría de tarifa	Monto ($)
Tarifa de gestión base	5,600,000
Tarifas basadas en el desempeño	1,600,000

AG Mortgage Investment Trust, Inc. (MITT) - Canvas Business Model: Value Propositions

You're looking at the core reasons why AG Mortgage Investment Trust, Inc. (MITT) attracts capital right now, late in 2025. It's about the structure they've built to generate returns in this market.

Attractive Risk-Adjusted Returns

The value proposition here centers on disciplined capital management. AG Mortgage Investment Trust, Inc. targets returns by carefully managing how much they borrow versus what they own. As of September 30, 2025, the company maintained an Economic Leverage Ratio of 1.7x.

This approach is paired with a focus on asset quality. For instance, the Home Equity Loan portfolio, a key focus area, had an average FICO score of 747 and a combined loan-to-value ratio of 66% as of the third quarter of 2025, with no loans in serious delinquency at that time. This discipline aims to translate into tangible shareholder value, evidenced by the 2.7% quarterly economic return on equity reported for Q3 2025.

Here's a quick snapshot of the Q3 2025 financial position supporting this:

Metric	Amount/Value (As of 9/30/2025)
Book Value per share	$10.46
Investment Portfolio	$8.8 billion
Total Liquidity	$104.2 million
GAAP Net Income per Share	$0.47

Consistent Shareholder Dividends

For income-focused investors, the consistent payout is a major draw. AG Mortgage Investment Trust, Inc. declared a Q3 2025 common dividend of $0.21 per common share, payable on October 31, 2025. That dividend level underscores confidence in their current earnings power, especially since the Earnings Available for Distribution (EAD) per diluted share for that quarter was $0.23.

The market is pricing this in, too. The current dividend yield for AG Mortgage Investment Trust, Inc. stands around 10.24%.

You can see the commitment to the distribution:

• Q3 2025 Dividend Declared: $0.21 per share.
• Q2 2025 Dividend Declared: $0.21 per share (a 5% increase from Q1 2025).
• EAD per Share (Q3 2025): $0.23.

Exposure to the Growing Home Equity Market

AG Mortgage Investment Trust, Inc. is strategically pivoting toward the home equity space. This focus is designed to capture growth in a market segment supported by the existing housing stock and borrower behavior. The Home Equity Loan portfolio specifically reached $1.0 billion in unpaid principal balance (UPB) as of Q3 2025.

These assets offer attractive yields. The average coupon on that home equity loan book was 9.8% in the third quarter. Furthermore, the company actively executed on this strategy, finalizing a $301 million UPB securitization of home equity loans in July 2025.

Vertically Integrated Structure

The structure provides a defintely reliable asset pipeline, which is key for a mortgage REIT. This comes primarily through their investment in Arc Home LLC, a residential mortgage originator. AG Mortgage Investment Trust, Inc. increased its stake in Arc Home to 66.0% ownership as of August 1, 2025, up from 44.6% previously.

This integration is expected to enhance earnings potential by securing collateral sourcing. The investment in Arc Home as of September 30, 2025, was valued at $49.2 million using a valuation multiple of 1.025x book value. This move is management's play to ensure a consistent flow of target assets, like the home equity loans, directly into their investment portfolio.

AG Mortgage Investment Trust, Inc. (MITT) - Canvas Business Model: Customer Relationships

You're looking at how AG Mortgage Investment Trust, Inc. (MITT) manages its different groups of stakeholders as of late 2025. The relationships are segmented based on the level of direct interaction required.

Transactional/Automated

For the broad base of public shareholders, the relationship is largely transactional and automated, centered on capital return and mandatory disclosure. The most concrete evidence of this is the declared dividend. For the third quarter of 2025, AG Mortgage Investment Trust, Inc. declared a common dividend of $0.21 per share, payable on October 31, 2025. This distribution is a key touchpoint for this segment. Furthermore, shareholders are informed through the reported performance metrics that underpin these distributions, such as the Book Value per share of $10.46 as of September 30, 2025, and the Earnings Available for Distribution (EAD) of $0.23 per diluted common share for that same quarter. This automated flow of capital and data defines the primary relationship with the retail investor base.

Here's a quick look at the key shareholder-relevant figures from the third quarter of 2025:

Metric	Value	Date/Period
Book Value per Share	$10.46	September 30, 2025
Q3 2025 Common Dividend Declared	$0.21 per share	Q3 2025
Earnings Available for Distribution (EAD) per Share	$0.23	Q3 2025
Quarterly Economic Return on Equity	2.7%	Q3 2025
GAAP Net Income Available to Common Stockholders per Share	$0.47	Q3 2025

Managed

The relationship with financing counterparties, crucial for funding the investment portfolio, requires direct, managed engagement, primarily through repurchase agreements (repos). This is where AG Mortgage Investment Trust, Inc. manages its liability side. As of September 30, 2025, the total financing across the balance sheet stood at $8.4 billion. This total financing is segmented into two types of obligations, which dictates the nature of the relationship with the respective lenders or dealers.

• Recourse Financing: $1.0 billion.
• Non-recourse Financing: $7.4 billion.

The management of these relationships involves maintaining specific leverage metrics, such as the GAAP Leverage Ratio of 14.9x and the Economic Leverage Ratio of 1.7x as of the same date. While specific 2025 counterparty names aren't immediately available, historical context shows relationships with major institutions like Bank of America, N.A., Credit Suisse Securities (USA) LLC, and Wells Fargo Bank, National Association, indicating a network of sophisticated financial partners requiring active management to secure and maintain funding lines.

Strategic

The relationship with the management and owners of Arc Home is strategic, reflecting a deep, integrated operational alignment. AG Mortgage Investment Trust, Inc. actively manages this relationship by increasing its stake in the residential mortgage originator. On August 1, 2025, the Company increased its ownership in Arc Home to 66.0%, up from 44.6%, by issuing 2,027,676 restricted shares of common stock as consideration. This strategic investment was valued at $49.2 million as of September 30, 2025, determined using a valuation multiple of 1.025x book value. This move signals a commitment to integrating the origination channel, which contributed $0.03 per share to EAD in Q3 2025, directly influencing the trust's asset flow and earnings quality.

Investor Relations

Transparency for all stakeholders is maintained through formal Investor Relations channels, which are critical for a publicly traded REIT. This involves regular communication beyond the automated dividend notices. For instance, the Third Quarter 2025 results were discussed in a formal Earnings Conference Call held on November 5, 2025. Furthermore, compliance with regulatory bodies mandates consistent filings. The investment portfolio size as of September 30, 2025, was $8.8 billion, and total liquidity was $104.2 million, figures disclosed through these required channels. You can expect quarterly SEC filings to provide the detailed breakdown supporting these figures and the narrative provided by management, such as CEO T.J. Durkin's remarks on the quarter's success.

AG Mortgage Investment Trust, Inc. (MITT) - Canvas Business Model: Channels

You're looking at how AG Mortgage Investment Trust, Inc. (MITT) gets its assets, capital, and information out to the world. It's a mix of public markets and direct institutional dealings, which is pretty standard for a mortgage REIT.

New York Stock Exchange (NYSE): For common stock and preferred share trading

This is where the public equity trades hands. AG Mortgage Investment Trust, Inc. trades under the ticker MITT on the NYSE. As of the end of the third quarter 2025, the company had a reported Market Cap of $260.94 million as of October 28, 2025.

For the common stock, the price as of December 4, 2025, was $8.26 per share, with a 52-week range noted between a low of $5.63 and a high of $8.37.

The preferred shares, specifically the 8.25% Preferred Series A (MITTA), also trade on the NYSE. The previous close for MITTA was $22.64, and its 52-week range was between $18.60 and $23.99. On December 5, 2025, the trading volume for MITTA was 4,191 shares.

Here's a quick look at the trading data we have for the preferred shares:

Metric	Value as of Late 2025 Data
MITTA Previous Close	$22.64
MITTA 52 Week High	$23.99
MITTA 52 Week Low	$18.60
MITTA Volume (Dec 5, 2025)	4,191

Securitization Markets: Issuing Residential Mortgage-Backed Securities (RMBS) to institutional investors

The core of the asset channel involves packaging mortgages, especially Home Equity Loans, and selling them as securities. This is how AG Mortgage Investment Trust, Inc. moves assets off its books and raises capital for new investments. The Investment Portfolio stood at $8.8 billion as of September 30, 2025.

The company was active in this channel during the third quarter of 2025, executing four securitizations. This built upon prior activity, such as sponsoring a securitization backed by $647 million of closed-end second loans in Q2 2025, and in Q1 2025, cosponsoring a securitization of $492 million UPB of closed-end seconds, retaining $26 million of non-Agency RMBS securities.

The Home Equity Loan portfolio, a key collateral source, reached $1.0 billion as of September 30, 2025.

Key securitization and portfolio metrics:

• Investment Portfolio (Sep 30, 2025): $8.8 billion
• Home Equity Loan Portfolio (Sep 30, 2025): $1.0 billion
• Q3 2025 Securitizations Executed: 4
• Q1 2025 Retained Non-Agency RMBS: $26 million

Investment Banks/Dealers: For financing (repo agreements) and hedging instruments (swaps)

This channel is critical for funding the asset portfolio and managing interest rate risk. Total financing for AG Mortgage Investment Trust, Inc. was $8.4 billion as of September 30, 2025. This financing is split into $7.4 billion of non-recourse debt and $1.0 billion of recourse financing.

The use of derivatives is evident in the Net Interest Margin (NIM) for Q3 2025, which included a 0.05% benefit from the net interest component of interest rate swaps. This shows active hedging through these dealer relationships. For context on financing structure, the company ended Q1 2025 with only $223 million of warehouse financing, indicating a preference for securitized debt over short-term warehouse lines for their Home Equity loans.

Financing and Hedging Data Points:

Financing/Hedging Metric	Amount/Value (as of Sep 30, 2025 unless noted)
Total Financing	$8.4 billion
Non-Recourse Financing	$7.4 billion
Recourse Financing	$1.0 billion
Swap Benefit to NIM (Q3 2025)	0.05%
Warehouse Financing (Q1 2025 End)	$223 million

Corporate Website/IR Portal: Distributing financial results and investor presentations

The official corporate website, www.agmit.com, serves as the primary hub for official investor communications. You can find the latest financial narrative there.

For instance, the Q3 2025 Earnings Presentation was made available on the website in the 'Presentations' section under 'News & Presentations' prior to the November 4, 2025 conference call. Furthermore, an audio replay of that call was made available on the site through 9:00 a.m. Eastern Time on December 4, 2025.

Key distribution points on the IR portal:

• Latest Financial Results: Q3 2025 Earnings Release available November 4, 2025.
• Investor Presentations: Q3 2025 Earnings Presentation posted on www.agmit.com.
• Replay Access: Audio replay available until December 4, 2025.

AG Mortgage Investment Trust, Inc. (MITT) - Canvas Business Model: Customer Segments

You're looking at the key groups AG Mortgage Investment Trust, Inc. (MITT) serves or relies upon as of late 2025. Here's a breakdown of those segments with the latest hard numbers we have from the Q3 2025 reports.

Public Shareholders: Seeking high dividend yields and capital appreciation from a REIT structure.

This group is focused on the total return generated by AG Mortgage Investment Trust, Inc. (MITT). They are interested in the book value stability and the cash distributed.

• Book Value per share as of September 30, 2025: $10.46.
• Dividend per common share declared in Q3 2025: $0.21.
• Earnings Available for Distribution (EAD) per diluted common share in Q3 2025: $0.23.
• Market Capitalization: $8.36 billion.
• Shares Outstanding: Approximately 31.74 million.

Institutional Investors: Purchasers of the company's securitized products (RMBS).

While AG Mortgage Investment Trust, Inc. (MITT) is the primary investor in these assets, the underlying structure relies on the market for these securities. The scale of the portfolio is the relevant metric here.

Metric	Value as of September 30, 2025
Total Investment Portfolio Size	$8.8 billion
Securitization Activity (Q3 2025)	Executed 4 securitizations
Home Equity Investment Allocation	$1 billion of loans and $52 million of non-agency RMBS collateralized by home equity loans

Financing Counterparties: Banks and dealers providing warehouse and repurchase financing.

These counterparties provide the necessary leverage to fund AG Mortgage Investment Trust, Inc. (MITT)'s investment portfolio. Their comfort level is tied to the leverage employed.

Financing Component	Amount as of September 30, 2025
Total Financing	$8.4 billion
Non-Recourse Financing	$7.4 billion
Recourse Financing	$1.0 billion
GAAP Leverage Ratio (MRQ)	14.9x
Economic Leverage Ratio (MRQ)	1.7x

TPG Angelo Gordon: The ultimate parent of the external manager.

This segment represents the relationship with the external manager, AG REIT Management, LLC, an affiliate of TPG Angelo Gordon. Their scale and prior transactions are key indicators of this relationship.

• TPG Angelo Gordon platform manages approximately $99 billion across credit and real estate strategies.
• On August 1, 2025, AG Mortgage Investment Trust, Inc. (MITT) acquired an additional 21.4% interest in Arc Home from TPG Angelo Gordon managed funds.
• This transaction increased AG Mortgage Investment Trust, Inc. (MITT)'s ownership in Arc Home to 66.0% from 44.6%.

AG Mortgage Investment Trust, Inc. (MITT) - Canvas Business Model: Cost Structure

You're looking at the core expenses AG Mortgage Investment Trust, Inc. (MITT) faces to run its business, primarily driven by the cost of money and external management.

The largest cost component is the expense associated with the debt used to finance the investment portfolio. This is the cost of borrowing, which is highly sensitive to prevailing interest rates.

Total Interest Expense for the Trailing Twelve Months (TTM) ending September 2025 was $373.54 million on financing obligations.

General and Administrative (G&A) and other day-to-day running costs are relatively small compared to the interest expense, which makes sense for a highly leveraged REIT.

Total Operating Expenses, which include G&A and other costs, totaled $22.55 million for the TTM ending September 2025.

Management Fees are a key structural cost because AG Mortgage Investment Trust, Inc. (MITT) is externally managed by AG REIT Management, LLC, an affiliate of TPG Angelo Gordon. This fee structure means a portion of the revenue is paid out to the manager for advisory and administrative services.

Preferred Dividends represent fixed cash payments required for the preferred stock outstanding. These are contractual obligations, making them a fixed cost element in the structure, similar to debt interest.

We can see the fixed nature of these dividend payments across the preferred stock series:

Preferred Stock Series	Stated Annual Dividend Per Share (2025)	Fixed Payment Nature
Series A (MITT-PR-A)	$2.06	Fixed Rate of 8.25% on $25 par value.
Series C (MITT-PR-C)	Approximately $2.815 (Based on Q2 $0.704864 + Q3 $0.706042 + Q4 $0.680181 declared/paid through Sep '25, plus an estimate for the final quarter based on prior rates)	Fixed Rate on $25 par value.

While a specific TTM dollar amount for only Preferred Dividends is not explicitly isolated in the search results, the total cash outflow for all dividends (common and preferred) for the TTM ended September 2025 was -$44.87 Million.

The key cost drivers are:

• Total Interest Expense: $373.54 million (TTM Sep '25).
• Total Operating Expenses: $22.55 million (TTM Sep '25).
• Management Fees: Paid to AG REIT Management, LLC.
• Preferred Dividends: Fixed payments on outstanding preferred stock.

The cost structure is heavily weighted toward financing costs, which is typical for a mortgage REIT. Finance: review the Q4 2025 interest rate forecast impact on the next TTM interest expense by Monday.

AG Mortgage Investment Trust, Inc. (MITT) - Canvas Business Model: Revenue Streams

You're looking at how AG Mortgage Investment Trust, Inc. (MITT) actually brings in the money, which is key to understanding its stability, especially given the current rate environment. Honestly, for a mortgage REIT, the revenue streams are pretty focused, centered around the spread between what they earn on assets and what they pay for financing.

The biggest piece, by far, is the Net Interest Income: From the investment portfolio, totaling $76.82 million (TTM Sep '25). This is the core engine. It comes from holding assets like agency and non-agency residential mortgage-backed securities and loans, and then borrowing money to buy more of those assets. If you look at the Q3 2025 results, the Net Interest Margin (NIM) averaged 0.7%, which includes a small 0.05% boost from their interest rate swaps. That NIM figure tells you the direct profitability of their core lending/investing activity before other factors.

To give you a clearer picture of the TTM Sep '25 performance across the main income drivers, check out this breakdown:

Revenue Component	Amount (TTM Sep '25)	Source Context
Net Interest Income	$76.82 million	Core earnings from the investment portfolio yield vs. cost of funds.
Earnings from Equity Investments	$4.1 million	Primarily from the increased stake in Arc Home, a mortgage originator.
Gain on Sale of Investments	$6.57 million	Resulting from securitization and disposition activity during the period.

Also contributing meaningfully is the strategic move into vertical integration. The Earnings from Equity Investments: Primarily from the Arc Home stake, contributing $4.1 million (TTM Sep '25). Remember, AG Mortgage Investment Trust, Inc. increased its ownership in Arc Home to 66.0% as of September 30, 2025. That move is designed to generate earnings from origination and gain-on-sale margins, not just interest income. In Q3 alone, Arc Home added $0.03 of EAD per share to the bottom line.

Finally, you have the transactional income. The Gain on Sale of Investments: From securitization and disposition activity, totaling $6.57 million (TTM Sep '25) shows the success of their efforts to move assets off the balance sheet, often through securitizations. This is a variable stream, but it was strong in Q3, where they executed four securitizations. Here are a few other numbers that frame the revenue picture from that recent quarter:

• Q3 2025 Revenue was reported at $30.2 million.
• Earnings Available for Distribution (EAD) per diluted common share was $0.23.
• Book Value per share stood at $10.46 as of September 30, 2025.
• The dividend declared for Q3 2025 was $0.21 per common share.

The strategy is clearly about maximizing the spread income while getting an increasing, high-quality contribution from the Arc Home platform. Finance: draft 13-week cash view by Friday.