TPG Mortgage Investment Trust, Inc. Reports Third Quarter 2026 Results
TPG Mortgage Investment Trust (MITT) reported Q3 2026 results and restated the terms of its pending acquisition of the FILER, Cherry Hill Mortgage Investment (CHMI). Under the merger agreement dated August 9, 2026, each CHMI share converts into 0.3063 MITT shares plus $0.41 cash from MITT and $0.52 cash from AG REIT Management; CHMI Series A and B preferred convert 1-for-1 into new MITT Series D and E preferred. No change to the terms was announced. MITT itself posted a $(0.49) diluted net loss per share versus $0.21 of EAD, with book value falling 7.3% to $9.27.
Key figures
- Economic roe
- -4.9%
- Ead per share
- 0.21
- Total liquidity
- $84.7 million
- Gaap leverage ratio
- 13.7x
- Net interest margin
- 0.8%
- Book value per share
- 9.27
- Investment portfolio
- $7.6 billion
- Book value change qoq
- -7.3%
- Merger cash from mitt
- $0.41 per CHMI share
- Merger exchange ratio
- 0.3063 MITT shares per CHMI share
- Economic leverage ratio
- 2.0x
- Dividend per common share
- 0.24
- Merger cash from mitt manager
- $0.52 per CHMI share
- Cherry hill transaction expense
- $2.0 million
AI analysis
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