Company: MITN
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001514281-25-000062
Chunk: 100

Company: AG Mortgage Investment Trust, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 100
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572 $13,558 Interest expense90,281 78,393 11,888 Total Net Interest Income18,849 17,179 1,670 Other Income/(Loss)  Net interest component of interest rate swaps737 1,900 (1,163)Net realized gain/(loss)10 (1,103)1,113 Net unrealized gain/(loss)802 10,014 (9,212)Total Other Income/(Loss)1,549 10,811 (9,262)Expenses  Management fee to affiliate2,327 1,741 586 Non-investment related expenses3,308 3,114 194 Investment related expenses3,410 3,283 127 Transaction related expenses1,061 999 62 Total Expenses10,106 9,137 969 Income/(loss) before equity in earnings/(loss) from affiliates10,292 18,853 (8,561)Equity in earnings/(loss) from affiliates1,185 2,037 (852)Net Income/(Loss)11,477 20,890 (9,413)Dividends on preferred stock(5,304)(4,586)(718)Net Income/(Loss) Available to Common Stockholders$6,173 $16,304 $(10,131)

Interest income

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

Interest income increased from the three months ended March 31, 2024 to the three months ended March 31, 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 EndedMarch 31, 2025March 31, 2024ChangeWeighted average amortized cost of our GAAP investment portfolio$7,197 $6,457 $740 Weighted average yield on our GAAP investment portfolio6.07 %5.92 %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 W