Updating TPG Mortgage Investment Trust Notes: Both Now Rated As Buys

Retired InvestorInvesting GroupFollow5ShareSavePlay(7min)CommentsSummaryTPG Mortgage Investment Trust, Inc. offers two 9.5% Senior Notes, MITN and MITP, maturing in 2029, for income-focused investors.MITP provides less call protection than MITN, with both offering similar yields.Neither note is rated by Moody's or S&P, but interest payments are senior and cannot be skipped except in bankruptcy.The 9.4% yields have me giving both issues a Buy rating, as those yields compare well against other mREIT notes of similar maturities.Looking for more investing ideas like this one? Get them exclusively at iREIT®+HOYA Capital. Learn More » Getty Images Introduction mREITs issue lots of preferred stocks to finance their mortgage investing strategy. Less often, they use short-term Notes instead, which in theory should have a lower cost due to being higher on the capital structure. TPG Mortgage Investment Trust, Inc. (This article was written byRetired Investor9.26K FollowersFollowRetired Investor has been investing since the 1980s and has a background in data analysis and pension fund management. He writes articles to help others prepare for retirement by investing in CEFs, ETFs, BDCs, and REITs. He is a long only investor and shares strategies for trading options with a focus on cash-secured-puts. He is a contributing author to the investing group iREIT®+HOYA CapitalThe group helps investors achieve dependable monthly income, portfolio diversification, and inflation hedging. It provides investment research on REITs, ETFs, closed-end funds, preferreds, and dividend champions across asset classes. It offers income-focused portfolios targeting dividend yields up to 10%.Learn more.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.