Company: MITN
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001514281-25-000086
Chunk: 159

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 159
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vestment related expenses2,533 2,746 (213)Investment related expenses3,473 3,491 (18)Transaction related expenses3,018 481 2,537 Total Expenses11,325 8,471 2,854 Income/(loss) before equity in earnings/(loss) from affiliates3,714 3,014 700 Equity in earnings/(loss) from affiliates231 911 (680)Net Income/(Loss)3,945 3,925 20 Dividends on preferred stock(5,321)(4,586)(735)Net Income/(Loss) Available to Common Stockholders$(1,376)$(661)$(715)

Interest income

Interest income is calculated using the effective interest method for our GAAP investment portfolio.

Interest income increased from the three months ended June 30, 2024 to the three months ended June 30, 2025 primarily as a result of purchases of residential mortgage loans and non-agency RMBS during the period and an increase in the weighted average yield of our investment portfolio. The following table presents a summary of the weighted average amortized cost of and the weighted average yield on our GAAP investment portfolio ($ in millions).

Three Months EndedJune 30, 2025June 30, 2024ChangeWeighted average amortized cost of our GAAP investment portfolio$7,365 $6,805 $560 Weighted average yield on our GAAP investment portfolio6.02 %5.87 %0.15 %

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Interest expense

Interest expense is inclusive of our financing cost related to our financing arrangements on our GAAP investment portfolio, securitized debt, Senior Unsecured Notes, and, for 2024, Legacy WMC Convertible Notes.

Interest expense increased from the three months ended June 30, 2024 to the three months ended June 30, 2025 due to an increase in the GAAP financing balance outstanding resulting from the issuance of securitized debt and Senior Unsecured Notes during the period, offset by the repayment of the Legacy WMC Convertible Notes upon maturity in September 2024. Additionally, there was an increase in the weighted average financing rate. The following table presents a summary of the weighted average financing balance and the weighted average financing rate on our GAAP investment portfolio ($ in millions).

Three Months EndedJune 30, 2025June 30, 2024ChangeWeighted average GAAP