# TPG Mortgage Investment Trust, Inc. (MITT)

> Source: Nexqual · https://nexqual.com/MITT · data as of 2026-10-23 17:20 UTC · cite as "Nexqual, TPG Mortgage Investment Trust, Inc. (MITT), nexqual.com/MITT" · informational, not investment advice.

**Price:** USD 5.41 (-0.92% today) · US market open, as of October 23, 2026 at 17:20 UTC; quotes may be delayed. Prev close 5.46 · day 5.38–5.44 · 52w 5.2–9.27 · market cap $172M · NYQ

## Key facts
- Valuation: P/E 3.9x (avg 3.8x at the last 3 fiscal year-ends).
- Analysts: Buy (mean 1.83 on a 1–5 scale) (6 analysts), mean target USD 8.58 (range 7.75–10.25).
- Total return with dividends: 1Y -17.0% vs S&P 500 +14.4%; 5Y -14.7% vs S&P 500 +77.0%.
- Next earnings: 2026-11-03, EPS estimate USD 0.27, revenue estimate $21.5M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Net income | $104M | -$53.1M | $53.8M | $55.7M | $48.7M | $44.0M |
| EPS (diluted) | $5.29 | -$3.12 | $1.68 | $1.23 | $0.90 | — |
| Cash + short-term investments | $68.1M | $84.6M | $112M | $119M | $57.8M | — |
| Total debt | $1.78B | $621M | $85.3M | $0K | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 3.9x · P/B 0.3x · Earnings yield 25.55% · Dividend yield (paid, TTM) 16.17%
P/E at fiscal year-ends: Dec 2025 5.4x, Dec 2024 3.5x, Dec 2023 2.5x.

## Analysts
Consensus Buy (mean 1.83 on a 1–5 scale), 6 analysts; mean target USD 8.58 (low 7.75, high 10.25).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-15 | Citizens | Target lowered | Market Outperform | $9.25 → $8.5 |
| 2026-10-09 | Piper Sandler | Target lowered | Overweight | $9 → $8 |
| 2026-08-10 | Jones Trading | Target lowered | Buy | $9 → $8 |
| 2026-07-02 | Piper Sandler | Target lowered | Overweight | $10 → $9.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -17.0% | -14.7% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | -17.0% | -3.1% |
| Volatility (annualized) | 29.2% | 36.6% |
| Max drawdown | -37.0% (Jan 2026→Oct 2026) | -67.4% (Nov 2021→Oct 2022) |

## Peers (REIT - Mortgage)
KREF (KKR Real Estate Finance Trust I) USD 5.6 -2.19% · RWT (Redwood Trust, Inc.) USD 3.13 +0.16% · BRSP (BrightSpire Capital, Inc.) USD 3.61 -1.23% · TRTX (TPG RE Finance Trust, Inc.) USD 6.21 -0.16% · FBRT (Franklin BSP Realty Trust, Inc.) USD 6.16 -1.52% · ABR (Arbor Realty Trust) USD 2.82 -4.90%

## More
Full page: https://nexqual.com/MITT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in MITT's own 10-K filed 2026-02-25 (https://www.sec.gov/Archives/edgar/data/1514281/000162828026011775/mitt-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Arc Home | "We obtain our assets through Arc Home, LLC ("Arc Home"), our residential mortgage loan originator in which we own an approximate 66.0% interest, and through other third-party origination partners." |

Other companies that name MITT in their own reports (relationship from MITT's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | TPG Inc. (TPG) | 10-K 2026-02-17 | "TPG Asset Based Finance invests through a variety of vehicles including the Mortgage Value Partners Fund open-ended hedge fund, the Asset Based Credit closed-end fund series and evergreen vehicle, SMA…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.27 | $0.28 | -2.7% | $21.5M | 5 |
| Next quarter (ends 2026-12-31) | $0.27 | $0.28 | -4.3% | $21.6M | 5 |
| Current fiscal year (ends 2026-12-31) | $1.05 | $1.07 | -2.4% | $83.9M | 3 |
| Next fiscal year (ends 2027-12-31) | $1.21 | $1.25 | -3.1% | $93.7M | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-03): ±10.5%; last 8 reports averaged ±5.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 54.2% | ±10.5% |
| 2027-02-19 | 119 | 34.2% | ±17.9% |
| 2027-05-21 | 210 | 34.7% | ±21.5% |