Company: MITN
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050624
Chunk: 12

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 12
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500 Equity in earnings/(loss) from affiliates1,645 (849)2,494 Income/(Loss) before Income Taxes20,650 16,656 3,994 Income tax expense689 16 673 Net Income/(Loss)19,961 16,640 3,321 Dividends on preferred stock5,344 4,716 628 Net Income/(Loss) Available to Common Stockholders$14,617 $11,924 $2,693 

Interest income

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

Interest income increased from the three months ended September 30, 2024 to the three 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).

Three Months EndedSeptember 30, 2025September 30, 2024ChangeWeighted average amortized cost of our GAAP investment portfolio$8,185 $7,244 $941 Weighted average yield on our GAAP investment portfolio6.09 %5.93 %0.16 %

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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 September 30, 2024 to the three months ended September 30, 2025 due to a higher weighted average GAAP financing balance outstanding resulting from the issuance of securitized debt 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 EndedSeptember 30, 2025September 30, 2024ChangeWeighted average GAAP financing balance$7,739 $6,965 $774 Weighted average financing rate on our GAAP investment portfolio5.44 %5