Tpg Mortgage Investment Trust, Inc. · NYSE:MITT
Tpg Mortgage Investment Trust — AG Mortgage Investment Trust — Investor Presentation (September 2024)
14 slides from Tpg Mortgage Investment Trust's investor presentation, Sep 4, 2024
Slide 1: AG Mortgage Investment Trust, Inc. Investor Presentation
1 September 2024 AG Mortgage Investment Trust, Inc. Investor Presentation
Slide 2: Forward Looking Statements & Non-GAAP Financial Information
NYSE: MITT 2 Forward Looking Statements & Non-GAAP Financial Information Forward Looking Statements: This presentation includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 related to dividends, bo
Slide 3: AG Mortgage Investment Trust, Inc. Overview
NYSE: MITT 3 AG Mortgage Investment Trust, Inc. Overview (NYSE: MITT) A Leader in Non-Agency Residential Mortgage Housing Finance Focused Strategy Specialized, Proprietary Infrastructure Well-Established Team & Partnerships TPG Platform Pure-Play residential mortgage REIT Acquire newly originate
Slide 4: MITT Financial Snapshot Q2 2024
NYSE: MITT 4 MITT Financial Snapshot Q2 2024 $10.63 Book Value per Share1 $10.37 Adjusted Book Value per Share1 71% Price to Adjusted Book Value(a) $533.5 Total Equity (in millions) $180.2 Liquidity2 (in millions) $0.21 Q2 EAD per Share3,4 $(0.02) Q2 Earnings per Share3 $0.19 Dividend per Share Decl
Slide 5: MITT Financial Metric Trends
NYSE: MITT 5 $4.1 $4.3 $4.2 $4.5 $4.5 $4.7 $5.9 $6.2 $6.9 $0.0 $1.0 $2.0 $3.0 $4.0 $5.0 $6.0 $7.0 Q2 '22 Q3 '22 Q4 '22 Q1 '23 Q2 '23 Q3 '23 Q4 '23 Q1 '24 Q2 '24 Securitized Non-Agency Loans Warehouse Loans Other Residential Legacy WMC Commercial Agency MITT Financial Metric Trends Adjusted Book Valu
Slide 6: Mortgage REIT Performance
NYSE: MITT 6 Mortgage REIT Performance Note: The economic return on equity represents the change in book value per share from Q1 2022, plus the common dividends declared over the period, divided by book value per share as of Q1 2022. (a) Mortgage REIT Average is calculated by taking the average of t
Slide 7: Market Opportunity
NYSE: MITT 7 Market Opportunity Source: BofA Global Research, TPG AG as of May 2024. (a) Represents estimated annual originations. Focused on several compelling and sizable market opportunities within the Non-Agency mortgage market well-suited for our core competencies Non-Agency • Residential real
Slide 8: Earnings Power Potential
NYSE: MITT 8 Earnings Power Potential ROE Ranges Target Equity Allocation(b) 6/30/24 Equity(a)Description ($ in mm’s) 17 - 20%92%72%$387.8Residential Investments N/A-%10%51.5Legacy WMC Commercial N/A-%15%78.6Agency RMBS 0 - 30%6%7%35.0Arc Home8 16 - 21%$552.9Investment Portfolio and Arc Home 4 - 5%1
Slide 9: Arc Home: MITT's Proprietary Origination Channel
NYSE: MITT 9 • MITT’s investment at June 30, 2024(a): $35.0mm • $4.6mm return of capital from Arc Home in Q3 2024 from the sale of its existing MSR portfolio reducing investment to ~$31mm or 6% of June 30, 2024 equity Arc Home: MITT's Proprietary Origination Channel8 Note: This chart is for illustra
Slide 10: Non-Agency Loan Portfolio Snapshot
NYSE: MITT 10 Non-Agency Loan Portfolio Snapshot Note: Data is based on the latest available information, which is primarily as of May 31, 2024. (a) Securitized UPB includes securitized non-agency loans and Warehouse UPB includes non-agency and agency-eligible loans financed via warehouse financing.
Slide 11: Legacy WMC Commercial Investments
NYSE: MITT 11 Commercial Loans • Equity invested of $19.6mm • First mortgage loans scheduled to pay off within 12 months • Borrowers on both investments are current • Weighted average yield of 10.3% as of June 30, 2024 • Weighted average LTV of 63.7% • Hotel Por olio – Portfolio of four cross-collat
Slide 12: Footnotes
NYSE: MITT 12 Footnotes 1. Book value is calculated using stockholders’ equity less net proceeds of our cumulative redeemable preferred stock ($220.5 million). Adjusted book value (“ABV”) is calculated using stockholders’ equity less the liquidation preference of our cumulative redeemable preferred
Slide 13: Footnotes (cont.)
NYSE: MITT 13 Footnotes (cont.) 5. The economic return on equity represents the change in adjusted book value per share during the period, plus the common dividends declared over the period, divided by adjusted book value per share from the prior period. 6. The Investment Portfolio consists of Resid
Slide 14: TPG
TPG www.agmit.com
AG Mortgage Investment Trust — Investor Presentation (September 2024) on 6ix