AG Mortgage Investment Trust, Inc. (MITT): Business Model Canvas [Jan-2025 Mis à jour]

AG Mortgage Investment Trust, Inc. (MITT) émerge comme un acteur dynamique dans le monde complexe de l'investissement hypothécaire, naviguant stratégiquement dans le paysage complexe du financement immobilier. En tirant parti des stratégies d'investissement sophistiquées, des technologies de pointe et un portefeuille diversifié de titres adossés à des créances hypothécaires, Mitt offre aux investisseurs une opportunité convaincante de puiser dans des investissements immobiliers à haut rendement avec une gestion professionnelle et des approches transparentes. Cette exploration de la toile des modèles commerciaux de Mitt révèle les mécanismes innovants stimulant leur écosystème financier, fournissant un aperçu de la façon dont ils créent de la valeur, gèrent les risques et fournissent des rendements cohérents sur le marché des investissements hypothécaires en constante évolution.

AG Mortgage Investment Trust, Inc. (MITT) - Modèle d'entreprise: partenariats clés

Banques d'investissement et institutions financières

En 2024, AG Mortgage Investment Trust maintient des partenariats stratégiques avec les banques d'investissement et les institutions financières suivantes:

Institution financière	Détails du partenariat	Volume de valeurs mobilières adossé à des créances hypothécaires
Goldman Sachs	Partenaire d'origine MBS primaire	1,2 milliard de dollars en 2023
Morgan Stanley	Partenaire de trading du marché secondaire	875 millions de dollars de transactions
JPMorgan Chase	Collaboration de finances structurées	650 millions de dollars en titres

Originateurs hypothécaires et agents de prêt

Les partenariats clés de l'origine hypothécaire et de l'entretien comprennent:

• Hypothèque de maison Wells Fargo
• Prêts accélérés
• Prêts à la maison de calibre
• Hypothèque nationale

Sociétés de conseil en investissement immobilier

MITT collabore avec des sociétés de conseil en investissement immobilier spécialisées:

Cabinet de consultation	Services fournis	Frais de conseil annuels
Groupe CBRE	Analyse du marché et stratégie de portefeuille	3,5 millions de dollars
Marchés des capitaux JLL	Optimisation du portefeuille d'investissement	2,8 millions de dollars

Investisseurs institutionnels et partenaires du marché des capitaux

Partenariats d'investissement institutionnels majeurs:

• BlackRock Financial Management
• Groupe d'avant-garde
• Conseillers mondiaux de la rue State
• Investissements de fidélité

Entreprises parrainées par le gouvernement

Les principaux partenariats GSE de Mitt comprennent:

Partenaire GSE	Volume de valeurs mobilières	Focus de partenariat
Fannie Mae	4,3 milliards de dollars	Titres adossés à des créances hypothécaires résidentielles
Freddie Mac	3,9 milliards de dollars	Conformer les titres de prêt

AG Mortgage Investment Trust, Inc. (MITT) - Modèle d'entreprise: activités clés

Investissement et trading en valeurs mobilières adossées aux hypothèques

Au quatrième trimestre 2023, AG Mortgage Investment Trust a déclaré un portefeuille d'investissement total de 1,24 milliard de dollars en titres adossés à des créances hypothécaires. La composition du portefeuille comprend:

Type de sécurité	Investissement total	Pourcentage de portefeuille
RMBS d'agence	742 millions de dollars	59.8%
RMBS non agences	368 millions de dollars	29.7%
MBS commercial	130 millions de dollars	10.5%

Gestion des risques et optimisation du portefeuille

MITT utilise des stratégies de gestion des risques sophistiquées avec les mesures clés suivantes:

• Ratio de couverture des taux d'intérêt: 85,6%
• Durée moyenne du portefeuille d'investissement: 2,3 ans
• Évaluation moyenne pondérée en fonction du risque: BBB +

Titrisation des actifs hypothécaires résidentiels et commerciaux

Les activités de titrisation en 2023 générées:

Type d'actif	Total sécurisé	Rendement
Hypothèques résidentielles	456 millions de dollars	6.2%
Hypothèques commerciales	189 millions de dollars	7.1%

Analyse financière et développement de stratégie d'investissement

Métriques de performance de la stratégie d'investissement:

• Retour des capitaux propres annualisé: 11,4%
• Marge d'intérêt net: 2,8%
• Coût des fonds: 4,6%

Stratégies d'allocation et de couverture des capitaux

Répartition de l'allocation des capitaux pour 2023:

Stratégie	Capital alloué	Retour
Échanges de taux d'intérêt	312 millions de dollars	3.5%
Swaps par défaut de crédit	87 millions de dollars	2.9%
Options Contrats	45 millions de dollars	4.2%

AG Mortgage Investment Trust, Inc. (MITT) - Modèle d'entreprise: Ressources clés

Portefeuille d'actifs hypothécaires étendus

Au quatrième trimestre 2023, le portefeuille d'Ag Mortgage Investment Trust était composé de:

Catégorie d'actifs	Valeur totale	Pourcentage de portefeuille
MBS résidentiels d'agence	1,13 milliard de dollars	42.3%
MBS résidentiels non agences	658 millions de dollars	24.7%
Dette immobilière commerciale	492 millions de dollars	18.4%

Capacités avancées de modélisation financière et d'évaluation des risques

Mesures clés de la gestion des risques:

• Coupon moyen pondéré (WAC): 5,67%
• Vie moyenne pondérée (WAL): 6,2 ans
• Ratio de retour ajusté au risque: 1,43

Équipe expérimentée de gestion des investissements

Composition de l'équipe:

• Total des professionnels de l'investissement: 37
• Expérience moyenne de l'industrie: 16,5 ans
• Certifications: CFA, CAIA, FRM

Plateformes de technologie et d'analyse sophistiquées

Plate-forme technologique	Capacité	Investissement annuel
Logiciel de gestion des risques	Surveillance du portefeuille en temps réel	2,3 millions de dollars
Système d'analyse prédictif	Prévisions basées sur l'apprentissage automatique	1,7 million de dollars

Infrastructure de recherche de crédit et d'investissement solide

Capacités de recherche:

• Base de données de recherche propriétaire couvrant plus de 12 500 titres
• Évaluations mensuelles de la qualité du crédit
• Analyse des tendances du marché en temps réel

AG Mortgage Investment Trust, Inc. (MITT) - Modèle d'entreprise: propositions de valeur

Opportunités d'investissement hypothécaire à haut rendement

Au quatrième trimestre 2023, Ag Mortgage Investment Trust a démontré les caractéristiques financières suivantes:

Métrique	Valeur
Rendement des dividendes	14.52%
Dividende trimestriel	0,33 $ par action
Portefeuille d'investissement total	1,2 milliard de dollars

Stratégies d'investissement immobilier diversifiées

Répartition de la composition du portefeuille d'investissement:

• Titres adossés à des créances hypothécaires: 62%
• Titres adossés à des hypothèques non agences: 23%
• Titres adossés à des créances hypothécaires: 15%

Gestion de portefeuille professionnel

Équipe de gestion Métriques de performance:

Indicateur de performance	Résultat 2023
Retour des capitaux propres	11.7%
Revenu net d'intérêt	89,4 millions de dollars

Approche d'investissement transparent

Conformité réglementaire et de rapport:

• RPE enregistré à la SEC
• Rapports financiers trimestriels
• Présentations détaillées des investisseurs

Potentiel de distributions de dividendes cohérentes

Historique de la distribution des dividendes:

Année	Dividende annuel par action
2021	$1.32
2022	$1.44
2023	$1.56

AG Mortgage Investment Trust, Inc. (MITT) - Modèle d'entreprise: relations avec les clients

Communications des investisseurs et rapports trimestriels

AG Mortgage Investment Trust, Inc. fournit des rapports financiers trimestriels détaillés avec les mesures de communication suivantes:

Canal de communication	Fréquence	Méthode de rapport
Appels de résultats trimestriels	4 fois par an	Webdiffusion et conférence téléphonique
Dépôts de la SEC	Trimestriel (10-Q) et annuel (10-K)	Système de classement électronique Edgar
Présentations des investisseurs	Trimestriel	PDF numérique et publication de site Web

Plateformes de relations avec les investisseurs numériques

MITT utilise plusieurs plateformes numériques pour l'engagement des investisseurs:

• Section des relations avec les investisseurs sur le site Web de l'entreprise
• Système de communication des investisseurs par e-mail
• Email des relations avec les investisseurs dévoués Email
• Canaux de communication des investisseurs sur les réseaux sociaux

Mises à jour régulières des performances financières

Fréquence et canaux de mise à jour des performances:

Type de mise à jour	Fréquence	Plate-forme
Annonces de dividendes	Trimestriel	Communiqués de presse, site Web
Métriques de performance financière	Trimestriel	Présentations de gains
Mises à jour de la composition du portefeuille	Mensuel	Rapports des investisseurs

Consultation d'investissement personnalisée

Services de consultation:

• Réunions d'investisseurs en tête-à-tête
• Ligne téléphonique des relations avec les investisseurs dédiés
• Analyse des performances de portefeuille personnalisées

Programmes d'engagement des actionnaires

Métriques d'engagement des actionnaires:

Programme d'engagement	Taux de participation	Fréquence
Réunion des actionnaires annuelle	Environ 65% de participation institutionnelle	Annuellement
Enquêtes de rétroaction des investisseurs	Taux de réponse de 40%	Bi-annuellement
Webinaires d'information des investisseurs	250-300 participants par session	Trimestriel

AG Mortgage Investment Trust, Inc. (MITT) - Modèle d'entreprise: canaux

Plateformes d'investissement en ligne

Au quatrième trimestre 2023, Ag Mortgage Investment Trust, Inc. utilise les plateformes d'investissement en ligne suivantes:

Plate-forme	Volume de trading	Accessibilité
Charles Schwab	12,4 millions de dollars moyens quotidiens	Investisseurs de vente au détail et institutionnels
Améritrade TD	Moyenne quotidienne de 8,7 millions de dollars	Investisseurs auto-dirigés en ligne
Courtiers interactifs	6,2 millions de dollars en moyenne quotidienne	Commerçants professionnels

Réseaux de conseillers financiers

MITT collabore avec les réseaux de conseillers financiers:

• Merrill Lynch Wealth Management
• Morgan Stanley Wealth Management
• Services financiers UBS
• Raymond James Financial

Canaux d'investissement institutionnels

Canaux de distribution d'investissement institutionnels pour MITT:

Canal institutionnel	Volume d'investissement	Type d'investisseur
Blackrock	45,6 millions de dollars	Gestionnaire de fonds institutionnels
Groupe d'avant-garde	37,2 millions de dollars	Fonds de retraite
State Street Corporation	28,9 millions de dollars	Fonds de pension

Site Web de relations avec les investisseurs

Statistiques du site Web:

• Visiteurs mensuels du site Web: 127 500
• Temps moyen sur le site: 4,2 minutes
• Téléchargements trimestriels du rapport financier: 8 300

Listes d'échange de valeurs mobilières

Listes d'échange de valeurs mobilières de Mitt:

Échange	Symbole de ticker	Volume de trading quotidien
Nasdaq	GANT	1,2 million d'actions
Nyse	Liste secondaire	380 000 actions

AG Mortgage Investment Trust, Inc. (MITT) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels

Au quatrième trimestre 2023, AG Mortgage Investment Trust dessert les investisseurs institutionnels avec les profile:

Type d'investisseur	Investissement total	Pourcentage de portefeuille
Fonds de pension	287,4 millions de dollars	42%
Compagnies d'assurance	213,6 millions de dollars	31%
Divisions d'investissement bancaire	176,2 millions de dollars	27%

Individus à haute nette

Les caractéristiques du segment des investisseurs à haute netteur de Mitt:

• Portefeuille d'investissement moyen: 3,2 millions de dollars
• Seuil d'investissement minimum: 500 000 $
• Attente de rendement annuel typique: 7,5% à 9,2%

Fonds d'investissement immobilier

Détails d'allocation des fonds d'investissement immobilier:

Type de fonds	Investissement total	Stratégie d'investissement
Fonds de REIT	412,7 millions de dollars	Titres adossés à des créances hypothécaires
Fonds de capital-investissement	276,3 millions de dollars	Investissements hypothécaires résidentiels

Gestionnaires du portefeuille de retraite

Réflexion du segment du portefeuille de retraite:

• Actifs totaux de retraite gérés: 1,26 milliard de dollars
• Attribution moyenne aux titres adossés à des créances hypothécaires: 18,4%
• Risque typique profile: Modéré à conservateur

Demandeurs d'investissement à revenu fixe

Analyse du segment d'investissement à revenu fixe:

Catégorie d'investisseurs	Volume d'investissement	Plage de rendement
Investisseurs individuels	214,5 millions de dollars	6.2% - 8.7%
Investisseurs à revenu fixe d'entreprise	356,8 millions de dollars	7.1% - 9.3%

AG Mortgage Investment Trust, Inc. (MITT) - Modèle d'entreprise: Structure des coûts

Frais de gestion et de conseil

Pour l'exercice 2023, Ag Mortgage Investment Trust, Inc. a déclaré des frais de gestion de 9,1 millions de dollars. La structure des frais de conseil se décompose comme suit:

Type de frais	Montant ($)
Frais de gestion de la base	6,500,000
Frais de gestion incitative	2,600,000

Dépenses opérationnelles

Les dépenses opérationnelles de la société pour 2023 ont totalisé 15,3 millions de dollars, avec les composantes clés suivantes:

• Coûts administratifs généraux: 4,2 millions de dollars
• Compensation des employés: 5,7 millions de dollars
• Entretien du bureau: 1,8 million de dollars
• Dépenses de voyage et de communication: 1,6 million de dollars
• Services professionnels: 2 millions de dollars

Investissements technologiques et de recherche

Mitt alloué 3,6 millions de dollars aux investissements technologiques et de recherche en 2023, distribué à travers:

Catégorie d'investissement	Dépenses ($)
Infrastructure informatique	1,500,000
Cybersécurité	800,000
Recherche et développement	1,300,000

Contacments de conformité et de réglementation

Les dépenses de conformité pour 2023 étaient 2,9 millions de dollars, y compris:

• Consultation juridique: 1,1 million de dollars
• Représentation réglementaire: 800 000 $
• Audit et contrôle interne: 1 million de dollars

Frais de maintenance du portefeuille

Les coûts de maintenance du portefeuille pour 2023 sont équipés de 7,2 millions de dollars, en panne comme suit:

Catégorie de maintenance	Coût ($)
Gestion des actifs	3,500,000
Analyse du portefeuille	1,800,000
Systèmes de gestion des risques	1,900,000

AG Mortgage Investment Trust, Inc. (MITT) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des investissements hypothécaires

Pour l'exercice 2023, Ag Mortgage Investment Trust a déclaré 52,3 millions de dollars dans les revenus nets des intérêts de son portefeuille d'investissement hypothécaire.

Source de revenu	Montant ($)
Titres adossés à des créances hypothécaires résidentielles	37,500,000
Titres adossés à des créances hypothécaires commerciaux	14,800,000

Gains en capital réalisés et non réalisés

En 2023, Mitt a enregistré 18,6 millions de dollars dans le total des gains en capital de son portefeuille d'investissement.

• Réalisé des gains en capital: 12,4 millions de dollars
• Gains en capital non réalisés: 6,2 millions de dollars

Trading de titres adossés à des créances hypothécaires

Les revenus de négociation pour 2023 ont totalisé 23,7 millions de dollars, avec la ventilation suivante:

Type de titres	Revenus de négociation ($)
Agence MBS	15,200,000
MBS non agences	8,500,000

Distributions de dividendes

Mitt a déclaré des distributions totales de dividendes de 41,5 millions de dollars pour l'exercice 2023.

• Dividende trimestriel par action: 0,35 $
• Dividende annuel total par action: 1,40 $

Frais de gestion des investissements

Les frais de gestion des investissements pour 2023 équivalaient à 7,2 millions de dollars.

Catégorie de frais	Montant ($)
Frais de gestion de la base	5,600,000
Frais de performance	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.