Company: MITN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050624
Chunk: 18

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 18
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Non-investment related expenses8,390 8,552 (162)Investment related expenses11,205 10,185 1,020 Transaction related expenses6,041 2,164 3,877 Total Expenses32,583 26,103 6,480 Income/(loss) before equity in earnings/(loss) from affiliates33,065 39,414 (6,349)Equity in earnings/(loss) from affiliates3,061 2,099 962 Income/(Loss) before Income Taxes36,126 41,513 (5,387)Income tax expense743 58 685 Net Income/(Loss)35,383 41,455 (6,072)Dividends on preferred stock15,969 13,888 2,081 Net Income/(Loss) Available to Common Stockholders$19,414 $27,567 $(8,153)

Interest income

Interest income increased from the nine months ended September 30, 2024 to the nine months ended September 30, 2025  primarily due to a higher weighted average amortized cost of our GAAP investment portfolio as a result of purchases of residential mortgage loans and Non-Agency RMBS 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).

Nine Months EndedSeptember 30, 2025September 30, 2024ChangeWeighted average amortized cost of our GAAP investment portfolio$7,586 $6,837 $749 Weighted average yield on our GAAP investment portfolio6.06 %5.91 %0.15 %

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Interest expense

Interest expense increased from the nine months ended September 30, 2024 to the nine months ended September 30, 2025 due to a higher weighted average 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).

Nine Months EndedSeptember 30, 2025September 30, 2024ChangeWeighted average GA