TPG Mortgage Investment Trust
Acquires and securitizes newly originated non-agency residential mortgage loans in the United States.
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Profile
Acquires newly originated non-agency residential mortgage loans from Arc Home and third-party originators, then securitizes them into longer-term financing. Loans and Securities and Arc Home are its reportable segments, linking mortgage-credit investing with an affiliated origination platform.
Acquires newly originated, primarily non-agency residential mortgage loans in the United States through Arc Home and third-party originators. It initially finances purchases with warehouse facilities or repurchase agreements and seeks to replace that funding with longer-term, non-recourse, non-mark-to-market securitization financing.
Its Loans and Securities segment holds the mortgage investments, while Arc Home provides a vertically integrated loan-origination channel and is separately reported as a segment. In securitizations, senior bond classes are generally sold to third parties while MITT retains subordinated, excess-cash-flow and required risk-retention positions.
Execution depends on access to loans from the manager and originators, warehouse or repo funding before securitization, securitization-market access, and Arc Home's ability to fund non-agency loans through warehouse facilities.
Company facts
Categories
Key statistics
Year to date −22.0% · Average volume (30d) 259.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 2, 2026 | Piper Sandler | Reiterate | Overweight | $10 | $9.50 | |
| Jun 17, 2026 | BTIG | Upgrade | Neutral | Buy | $9 | |
| Jan 22, 2026 | Credit Suisse | Target | $9.25 | |||
| Dec 22, 2025 | Piper Sandler | Reiterate | Overweight | $8.50 | $10 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | $0.27 | $0.24 | −10.7% | $26.1M | $21.6M | −17.2% | −10.86% |
| Apr 29, 2026Q1 FY26 | $0.25 | $0.26 | +4.0% | $22.0M | $12.3M | −43.9% | +2.60% |
| Feb 17, 2026Q4 FY25 | $0.24 | $0.25 | +2.8% | $23.2M | $22.5M | −2.9% | −1.64% |
| Nov 4, 2025Q3 FY25 | $0.23 | $0.23 | 0.0% | $23.2M | $26.4M | +13.9% | +0.66% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $107.6M | $108.2M | $122.2M | $132.4M | $109.8M | $122.6M | |
| Gross profit | $17.3M | $102.4M | $115.6M | $125.6M | $632.0K | $116.0M | |
| Operating income | $11.5M | $99.8M | $126.2M | $130.1M | −$3.4M | $118.1M | |
| Net income | $11.5M | $3.9M | $20.0M | $13.3M | −$3.6M | $14.3M | |
| Diluted EPS | $0.21 | $0.13 | $0.47 | $0.25 | −$0.27 | $0.29 | |
| Gross margin | 16.1% | 94.7% | 94.6% | 94.9% | 0.6% | 94.6% | |
| Operating margin | 10.7% | 92.3% | 103.2% | 98.3% | -3.1% | 96.3% |
Fiscal years (4-quarter sums)FY21 $67.5M · FY22 $256.8M · FY23 $274.7M · FY24 $413.2M · FY25 $470.4M
Balance sheet, Jun 30, 2026Cash & short-term investments $61.6M · Total debt $7.34B · Total assets $7.94B · Shareholders' equity $546.0M
Dividends
Raised for 2 straight years — most recently to $0.24 from $0.23 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 31 | $0.24 | |
| Mar 31, 2026 | Mar 31 | Apr 30 | $0.24 | raised from $0.23 |
| Dec 31, 2025 | Dec 31 | Jan 30 | $0.23 | raised from $0.21 |
| Sep 30, 2025 | Sep 30 | Oct 31 | $0.21 | |
| Jun 30, 2025 | Jun 30 | Jul 31 | $0.21 | raised from $0.20 |
| Mar 31, 2025 | Mar 31 | Apr 30 | $0.20 | raised from $0.19 |
| Dec 31, 2024 | Dec 31 | Jan 31 | $0.19 | |
| Sep 30, 2024 | Sep 30 | Oct 31 | $0.19 |
Ownership
Shares outstanding 31.80M · Float 30.72M · 96.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 2.62M | 8.23% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 1.32M | 4.14% | 13F | Aug 13, 2026 |
| Geode Capital Management, LLC | 802.2K | 2.52% | 13F | Aug 12, 2026 |
| Goldman Sachs Group Inc | 695.5K | 2.19% | 13F | Aug 14, 2026 |
| State Street Corp | 633.3K | 1.99% | 13F | Aug 7, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- PennyMac Mortgage Investment Trust
Correspondent aggregator for prime, jumbo, and non-QM home loans
- Redwood Trust
Residential-loan conduit with whole-loan and securitization platforms
- Rithm Capital
Integrated Non-QM issuer with origination and servicing platform
- MFA Financial
Non-QM whole-loan investor with business-purpose loan origination
- Chimera Investment
Integrated residential-credit investor and Non-QM originator
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TPG Mortgage Investment Trust | $6.69 | +0.15% | $212.8M | 9.0 | 5.9 | 0.4 | +43.8% |
| PennyMac Mortgage Investment Trust | $9.34 | −0.16% | $814.5M | 6.5 | 7.4 | 0.5 | +1,323.8% |
| Redwood Trust | $4.65 | +0.84% | $580.3M | — | 4.9 | 0.4 | +68.5% |
| Rithm Capital | $10.09 | +0.05% | $5.63B | 16.8 | 4.5 | 1.0 | +205.4% |
| MFA Financial | $8.82 | −0.11% | $901.5M | 7.4 | 6.9 | 1.2 | −65.6% |
| Chimera Investment | $11.50 | −0.04% | $961.9M | — | 5.9 | 1.4 | −64.4% |
| Median | 7.4 | 5.9 | 1.0 | +68.5% |