Company: MITN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001514281-25-000062
Chunk: 207

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 2
Chunk 207
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, 2024 to the three months ended March 31, 2025 as we executed one securitization in each period. 

Equity in earnings/(loss) from affiliates

Equity in earnings/(loss) from affiliates represents our share of earnings and profits of investments held within affiliated entities. Substantially all of these investments are comprised of 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. 

49

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