TPG Mortgage Trust Hikes Dividend, Rebrands in Post-Merger Milestone

NEW YORK, NY – December 16, 2025 – In a dual announcement signaling both financial confidence and strategic evolution, AG Mortgage Investment Trust, Inc. (NYSE: MITT) today revealed a significant 9.5% increase in its quarterly common dividend and a definitive corporate rebranding. Effective immediately, the company will operate as TPG Mortgage Investment Trust, Inc., a move that solidifies its identity within the global alternative asset management giant TPG Inc. (NASDAQ: TPG).

The company's board declared a fourth-quarter 2025 dividend of $0.23 per common share, a substantial increase from the prior quarter's $0.21. This move, rewarding shareholders with a higher payout, is payable on January 30, 2026, to shareholders of record as of December 31, 2025. The name change and dividend hike together mark a pivotal moment for the residential mortgage REIT, capping a two-year integration process following TPG's acquisition of Angelo Gordon.

A New Identity Forged Under TPG

The rebranding to TPG Mortgage Investment Trust, Inc. is more than a cosmetic update; it represents the culmination of a strategic integration that began when TPG completed its acquisition of Angelo, Gordon & Co., L.P. on November 1, 2023. The transition formally aligns the mortgage REIT with its parent company, embedding it within TPG's expansive global investment platform.

For investors, the change provides a clearer connection to the resources and reputation of TPG, one of the world's most prominent asset managers. The company has assured stakeholders of a seamless transition, confirming that its ticker symbol on the New York Stock Exchange will remain “MITT,” preserving brand continuity for the market and existing shareholders. The name change is set to take effect with the NYSE on December 26, 2025, and the company has already updated its web presence to reflect the new identity.

In a statement, CEO and President TJ Durkin framed the rebranding as a crucial step in the company's evolution. “Two years since TPG’s acquisition of Angelo Gordon, the Company continues to benefit from the enhanced resources of a larger firm as we pair our credit team’s deep, sector-driven expertise with TPG’s global network and best-in-class investment and operational platform,” he said. “Rebranding MITT to align with TPG’s brand marks an important step in this evolution.”

This move positions the REIT to leverage TPG's extensive network for deal sourcing, capital access, and operational efficiencies, providing a potential competitive advantage in the complex U.S. mortgage market.

Rewarding Shareholders, Signaling Confidence

The 9.5% dividend increase is a tangible demonstration of the company’s strengthening financial position. The hike to $0.23 per share is the latest in a consistent pattern of quarterly increases over the past year, which saw dividends rise from $0.19 in late 2024 to $0.21 by mid-2025. This steady upward trajectory suggests a disciplined yet confident approach to capital allocation.

This confidence appears well-founded. The company's recent financial performance has been robust, providing the foundation for increased shareholder returns. In the third quarter of 2025, TPG Mortgage Investment Trust reported Earnings Available for Distribution (EAD) of $0.23 per share, a notable increase from the prior quarter and a figure that perfectly covers the newly announced dividend. This performance was driven by strong net interest income and successful securitization activities.

Furthermore, the company's revenue of $30.21 million in the same quarter surpassed analyst expectations, while its book value per share saw a modest increase to $10.46. TJ Durkin directly linked the dividend boost to this underlying strength, stating, “We are pleased to announce a 9.5% increase in our common stock dividend to $0.23 per share, to continue reflecting the growing earnings power of our investment portfolio and our unwavering commitment to maximizing long-term shareholder value.”

With a forward dividend yield approaching 10% and a strong dividend safety rating from analysts, the increase is likely to be welcomed by income-focused investors who now see a company backed by a global powerhouse and delivering on its promise of robust returns.

Navigating the Residential Mortgage Market

The company’s strategic moves come as the U.S. residential mortgage market continues to navigate a complex economic environment. Mortgage REITs are highly sensitive to interest rate fluctuations, housing market stability, and broader credit conditions. A stable or declining interest rate environment can be beneficial for net interest margins, while a strong housing market supports the value of the underlying mortgage assets in their portfolios.

TPG Mortgage Investment Trust appears to be proactively managing these dynamics. In the third quarter of 2025, the company grew its investment portfolio by approximately 21% to $8.8 billion, a significant expansion that indicates an aggressive but calculated pursuit of market opportunities. This growth was achieved while maintaining a relatively low economic leverage ratio of approximately 1.7x, suggesting a prudent approach to risk management that balances growth with stability.

The firm's strategy involves investing in a diversified, risk-adjusted portfolio of residential mortgage-related assets, including non-Agency loans and Agency residential mortgage-backed securities (RMBS). Recent reports indicate a strategic shift toward higher-return residential strategies and an increased ownership stake in mortgage originator Arc Home, which contributed positively to recent earnings. This diversified approach allows the company to adapt to changing market conditions and capture value across different segments of the mortgage ecosystem.

Financial Health and a Positive Outlook

A deeper look at the company's financial health reveals a solid foundation for its recent announcements. Analyst projections for the coming year are notably optimistic, with consensus estimates forecasting earnings per share (EPS) to grow by nearly 45% from an estimated $0.78 to $1.13. This anticipated earnings growth provides a strong tailwind for sustaining and potentially further increasing dividend payments in the future.

Over the last four reported quarters, the company generated a net income of over $55 million, translating to an EPS of $0.93. This consistent profitability, combined with the strategic backing of TPG, paints a picture of a micro-cap REIT punching above its weight class. The integration into TPG's structured credit and specialty finance division, which manages approximately $19 billion in assets, gives the REIT access to a scale and depth of expertise that many of its similarly sized peers lack.

The combination of a strengthened balance sheet, a clear strategic direction under the TPG brand, and a demonstrated commitment to shareholder returns has reshaped the narrative for the company. As it moves forward under its new name, TPG Mortgage Investment Trust is sending a clear message to the market that its period of integration is complete and a new chapter of growth has begun.