MITT posts FY2023 book value decline of 7.5%, negative economic return; completes WMC acquisition

TPG Mortgage Investment Trust, Inc.

2023-FY EPS reported $1.68

Q4 2023 net income $1.35/diluted share; EAD $0.17; adjusted book value down 7.2% from Q3.
FY2023 book value per share $10.46 (down 7.5% from $11.39); annual economic return on equity -1.0%.
Completed WMC acquisition on Dec 6, 2023: issued 9.2M shares, added $1.2B assets, bargain purchase gain $30.2M.
Expects $5-7M annual expense savings from WMC acquisition; accretive to 2024 earnings.
January 2024: issued $34.5M 9.5% Senior Notes due 2029; repurchased $7.1M Convertible Notes.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TPG Mortgage Investment Trust, Inc. reported financial results for full year and fiscal quarter ended December 31, 2023.

Period: full year and fiscal quarter ended December 31, 2023
Result: reported results

Exact text from the filing

AG Mortgage Investment Trust, Inc. (the “Company”) issued a press release announcing its financial results for the full year and fiscal quarter ended December 31, 2023

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TPG Mortgage Investment Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001514281-24-000025

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