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TPG Mortgage Investment Trust, Inc. — Third Quarter 2026 Earnings Summary

  • Book value per share declined 7.3% to $9.27 in Q3 2026, driven by a quarterly economic return on equity of (4.9%) and a net loss of $(0.49) per diluted share, though Earnings Available for Distribution (EAD) remained positive at $0.21 per share.
  • Management announced a definitive merger agreement to acquire Cherry Hill Mortgage Investment Corporation (CHMI), with terms including 0.3063 MITT shares and $0.93 total cash per CHMI share, while planning to rotate capital into higher-returning residential credit.
  • The company declared a third-quarter common dividend of $0.24 per share and maintains $84.7 million in total liquidity against a $7.6 billion investment portfolio, with a GAAP leverage ratio of 13.7x and economic leverage of 2.0x.
  • Future outlook emphasizes capital redeployment and the resolution of legacy commercial assets to position the combined entity for stronger long-term earnings, despite risks regarding merger closing conditions and integration costs.
Company
TPG MORTGAGE INVESTMENT TRUST INC
Sector
Financial Services
Industry
REIT - Mortgage