MITN
TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029
REIT - Mortgage
Market Cap$802M
5Y Perf.+1.1%
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Stock Comparison
MITN vs BXMT
Revenue, margins, valuation, and 5-year total return — side by side.
BXMT
Blackstone Mortgage Trust, Inc.
REIT - Mortgage
Market Cap$3.23B
5Y Perf.-6.0%
MITN vs BXMT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | MITN | BXMT |
|---|---|---|
| Industry | REIT - Mortgage | REIT - Mortgage |
| Market Cap | $802M | $3.23B |
| Revenue (TTM) | $400M | $1.54B |
| Net Income (TTM) | $34M | $104M |
| Gross Margin | 93.7% | 62.6% |
| Operating Margin | 92.9% | 58.3% |
| Forward P/E | 23.2x | 12.0x |
| Total Debt | $8.10B | $16.16B |
| Cash & Equiv. | $76M | $453M |
MITN vs BXMT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
MITN
BXMT
| Stock | Feb 24 | May 26 | Return |
|---|---|---|---|
| TPG Mortgage Invest… (MITN) | 100 | 101.1 | +1.1% |
| Blackstone Mortgage… (BXMT) | 100 | 94.0 | -6.0% |
Price return only. Dividends and distributions are not included.
Quick Verdict: MITN vs BXMT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: BXMT leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and dividend income and shareholder returns. TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029 is the stronger pick specifically for growth and revenue expansion and profitability and margin quality. As sector peers, any of these can serve as alternatives in the same allocation.
MITN
TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029
The Real Estate Income Play
MITN is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 0 yrs, beta 0.53, yield 3.1%
- Rev growth 14.4%, EPS growth -28.5%, 3Y rev CAGR 11.9%
- Lower volatility, beta 0.53, current ratio 0.09x
Best for: income & stability and growth exposure
BXMT
Blackstone Mortgage Trust, Inc.
The Real Estate Income Play
BXMT carries the broadest edge in this set and is the clearest fit for long-term compounding.
- 50.5% 10Y total return vs MITN's 22.3%
- Lower P/E (12.0x vs 23.2x)
- 9.9% yield, vs MITN's 3.1%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | MITN | 14.4% FFO/revenue growth vs BXMT's -14.0% |
| Value | BXMT | Lower P/E (12.0x vs 23.2x) |
| Quality / Margins | MITN | 8.4% margin vs BXMT's 6.7% |
| Stability / Safety | MITN | Beta 0.53 vs BXMT's 0.74 |
| Dividends | BXMT | 9.9% yield, vs MITN's 3.1% |
| Momentum (1Y) | BXMT | +12.1% vs MITN's +10.3% |
| Efficiency (ROA) | BXMT | 0.5% ROA vs MITN's 0.4%, ROIC 4.3% vs 4.4% |
MITN vs BXMT — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLMITNLAGGINGBXMT
BXMTBlackstone Mortgage T…
3leads
MITNTPG Mortgage Investme…
3leads
6 Total Categories
CATEGORYLEADERvs BXMTMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
MITN4/5
Valuation MetricsMultiples, price ratios, and targets
BXMT4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
MITN5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
BXMT4/6
Risk & VolatilityBeta, volatility, and downside exposure
MITN2/2
Analyst OutlookRatings, price targets, and dividends
BXMT1/1
Income & Cash Flow (Last 12 Months)
MITN leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
BXMT is the larger business by revenue, generating $1.5B annually — 3.8x MITN's $400M. Profitability is closely matched — net margins range from 8.4% (MITN) to 6.7% (BXMT). On growth, MITN holds the edge at +18.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | MITNTPG Mortgage Inve… | BXMTBlackstone Mortga… |
|---|---|---|
| RevenueTrailing 12 months | $400M | $1.5B |
| EBITDAEarnings before interest/tax | $373M | $948M |
| Net IncomeAfter-tax profit | $34M | $104M |
| Free Cash FlowCash after capex | $68M | $335M |
| Gross MarginGross profit ÷ Revenue | +93.7% | +62.6% |
| Operating MarginEBIT ÷ Revenue | +92.9% | +58.3% |
| Net MarginNet income ÷ Revenue | +8.4% | +6.7% |
| FCF MarginFCF ÷ Revenue | +17.0% | +21.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | +18.4% | +4.0% |
| EPS Growth (YoY)Latest quarter vs prior year | -2.3% | — |
MITN leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
BXMT leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
At 28.7x trailing earnings, MITN trades at a 4% valuation discount to BXMT's 29.9x P/E. On an enterprise value basis, BXMT's 16.3x EV/EBITDA is more attractive than MITN's 18.6x.
| Metric | MITNTPG Mortgage Inve… | BXMTBlackstone Mortga… |
|---|---|---|
| Market CapShares × price | $802M | $3.2B |
| Enterprise ValueMkt cap + debt − cash | $8.8B | $18.9B |
| Trailing P/EPrice ÷ TTM EPS | 28.73x | 29.92x |
| Forward P/EPrice ÷ next-FY EPS est. | 23.22x | 11.98x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 18.64x | 16.35x |
| Price / SalesMarket cap ÷ Revenue | 1.70x | 2.12x |
| Price / BookPrice ÷ Book value/share | 1.40x | 0.93x |
| Price / FCFMarket cap ÷ FCF | 12.58x | 11.71x |
BXMT leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
MITN leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
MITN delivers a 6.1% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $3 for BXMT. BXMT carries lower financial leverage with a 4.61x debt-to-equity ratio, signaling a more conservative balance sheet compared to MITN's 14.45x. On the Piotroski fundamental quality scale (0–9), BXMT scores 6/9 vs MITN's 4/9, reflecting solid financial health.
| Metric | MITNTPG Mortgage Inve… | BXMTBlackstone Mortga… |
|---|---|---|
| ROE (TTM)Return on equity | +6.1% | +2.9% |
| ROA (TTM)Return on assets | +0.4% | +0.5% |
| ROICReturn on invested capital | +4.4% | +4.3% |
| ROCEReturn on capital employed | +6.4% | +11.3% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 6 |
| Debt / EquityFinancial leverage | 14.45x | 4.61x |
| Net DebtTotal debt minus cash | $8.0B | $15.7B |
| Cash & Equiv.Liquid assets | $76M | $453M |
| Total DebtShort + long-term debt | $8.1B | $16.2B |
| Interest CoverageEBIT ÷ Interest expense | 1.12x | 1.11x |
MITN leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
BXMT leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in MITN five years ago would be worth $12,226 today (with dividends reinvested), compared to $9,591 for BXMT. Over the past 12 months, BXMT leads with a +12.1% total return vs MITN's +10.3%. The 3-year compound annual growth rate (CAGR) favors BXMT at 14.0% vs MITN's 6.9% — a key indicator of consistent wealth creation.
| Metric | MITNTPG Mortgage Inve… | BXMTBlackstone Mortga… |
|---|---|---|
| YTD ReturnYear-to-date | +4.1% | +0.7% |
| 1-Year ReturnPast 12 months | +10.3% | +12.1% |
| 3-Year ReturnCumulative with dividends | +22.3% | +48.1% |
| 5-Year ReturnCumulative with dividends | +22.3% | -4.1% |
| 10-Year ReturnCumulative with dividends | +22.3% | +50.5% |
| CAGR (3Y)Annualised 3-year return | +6.9% | +14.0% |
BXMT leads this category, winning 4 of 6 comparable metrics.
Risk & Volatility
MITN leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
MITN is the less volatile stock with a 0.53 beta — it tends to amplify market swings less than BXMT's 0.74 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MITN currently trades 96.3% from its 52-week high vs BXMT's 92.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | MITNTPG Mortgage Inve… | BXMTBlackstone Mortga… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.53x | 0.74x |
| 52-Week HighHighest price in past year | $26.25 | $20.67 |
| 52-Week LowLowest price in past year | $8.95 | $17.67 |
| % of 52W HighCurrent price vs 52-week peak | +96.3% | +92.6% |
| RSI (14)Momentum oscillator 0–100 | 58.1 | 47.5 |
| Avg Volume (50D)Average daily shares traded | 9K | 1.4M |
MITN leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
BXMT leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
For income investors, BXMT offers the higher dividend yield at 9.86% vs MITN's 3.12%.
| Metric | MITNTPG Mortgage Inve… | BXMTBlackstone Mortga… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold |
| Price TargetConsensus 12-month target | — | — |
| # AnalystsCovering analysts | — | 18 |
| Dividend YieldAnnual dividend ÷ price | +3.1% | +9.9% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.79 | $1.89 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +3.4% |
BXMT leads this category, winning 1 of 1 comparable metric.
Key Takeaway
MITN leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). BXMT leads in 3 (Valuation Metrics, Total Returns).
Best OverallTPG Mortgage Investment Tru… (MITN)Leads 3 of 6 categories
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MITN vs BXMT: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is MITN or BXMT a better buy right now?
For growth investors, TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) is the stronger pick with 14. 4% revenue growth year-over-year, versus -14. 0% for Blackstone Mortgage Trust, Inc. (BXMT). TPG Mortgage Investment Trust Inc 9. 500% Senior Notes due 2029 (MITN) offers the better valuation at 28. 7x trailing P/E (23. 2x forward), making it the more compelling value choice. Analysts rate Blackstone Mortgage Trust, Inc. (BXMT) a "Hold" — based on 18 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MITN or BXMT?
On trailing P/E, TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) is the cheapest at 28. 7x versus Blackstone Mortgage Trust, Inc. at 29. 9x. On forward P/E, Blackstone Mortgage Trust, Inc. is actually cheaper at 12. 0x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — MITN or BXMT?
Over the past 5 years, TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) delivered a total return of +22. 3%, compared to -4. 1% for Blackstone Mortgage Trust, Inc. (BXMT). Over 10 years, the gap is even starker: BXMT returned +50. 5% versus MITN's +22. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MITN or BXMT?
By beta (market sensitivity over 5 years), TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) is the lower-risk stock at 0. 53β versus Blackstone Mortgage Trust, Inc. 's 0. 74β — meaning BXMT is approximately 41% more volatile than MITN relative to the S&P 500. On balance sheet safety, Blackstone Mortgage Trust, Inc. (BXMT) carries a lower debt/equity ratio of 5% versus 14% for TPG Mortgage Investment Trust Inc 9. 500% Senior Notes due 2029 — giving it more financial flexibility in a downturn.
05Which is growing faster — MITN or BXMT?
By revenue growth (latest reported year), TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) is pulling ahead at 14. 4% versus -14. 0% for Blackstone Mortgage Trust, Inc. (BXMT). On earnings-per-share growth, the picture is similar: Blackstone Mortgage Trust, Inc. grew EPS 154. 7% year-over-year, compared to -28. 5% for TPG Mortgage Investment Trust Inc 9. 500% Senior Notes due 2029. Over a 3-year CAGR, MITN leads at 1194% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — MITN or BXMT?
TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) is the more profitable company, earning 10. 3% net margin versus 7. 2% for Blackstone Mortgage Trust, Inc. — meaning it keeps 10. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MITN leads at 95. 3% versus 71. 6% for BXMT. At the gross margin level — before operating expenses — MITN leads at 92. 4%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is MITN or BXMT more undervalued right now?
On forward earnings alone, Blackstone Mortgage Trust, Inc.
(BXMT) trades at 12. 0x forward P/E versus 23. 2x for TPG Mortgage Investment Trust Inc 9. 500% Senior Notes due 2029 — 11. 2x cheaper on a one-year earnings basis.
08Which pays a better dividend — MITN or BXMT?
All stocks in this comparison pay dividends.
Blackstone Mortgage Trust, Inc. (BXMT) offers the highest yield at 9. 9%, versus 3. 1% for TPG Mortgage Investment Trust Inc 9. 500% Senior Notes due 2029 (MITN).
09Is MITN or BXMT better for a retirement portfolio?
For long-horizon retirement investors, TPG Mortgage Investment Trust Inc 9.
500% Senior Notes due 2029 (MITN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 53), 3. 1% yield). Both have compounded well over 10 years (MITN: +22. 3%, BXMT: +50. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between MITN and BXMT?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(MITN: 18.4% · BXMT: 4.0%)Net Margin>
%
(MITN: 8.4% · BXMT: 6.7%)P/E Ratio<
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