Company: MITN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001514281-25-000062
Chunk: 104

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 104
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 real estate securities, loans, and our investment in AG Arc which holds our investment in Arc Home. The below tables summarize the components of the "Equity in earnings/(loss) from affiliates" line item on our consolidated statements of operations (in thousands).

Three Months EndedMarch 31, 2025March 31, 2024MATT Non-QM Securities (1)$(71)$2,205 Re/Non-Performing Securities(120)105 AG Arc (2)1,376 (273)Equity in earnings/(loss) from affiliates$1,185 $2,037 

(1)For the three months ended March 31, 2025, the earnings/(loss) generated from our investment in MATT Non-QM Securities consisted of interest income of $0.6 million and net unrealized losses of $(0.7) million. For the three months ended March 31, 2024, the earnings/(loss) generated from our investment in MATT Non-QM Securities consisted of interest income of $0.8 million, net unrealized gains of $1.5 million, and other expenses of $(0.1) million. 

(2)Refer to the table below for additional detail on the earnings/(loss) generated from our investment in AG Arc. 

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The below table further disaggregates our "Equity in earnings/(loss) from affiliates" line item on our consolidated statements of operations (in thousands).

Three Months EndedMarch 31, 2025March 31, 2024Net Interest IncomeInterest income$684 $1,081 Interest expense3 72 Total Net Interest Income681 1,009 Other Income/(Loss)Net unrealized gain/(loss)(831)1,370 AG Arc Earnings/(Loss)After-tax earnings/(loss) at AG Arc (1)61 (116)Elimination of gains on loans sold to MITT (2)(88)(201)Net unrealized gain/(loss) on investment in AG Arc (3)1,403 44 Total AG Arc Earnings/(Loss)1,376 (273)ExpensesOther operating expenses41 69 Equity in earnings/(loss) from affiliates$1,185 $2,037 

(1)The earnings/(loss) at AG Arc during the three months ended March 31, 2025 were the result of $0.2 million of income related to Arc