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U.S. Mortgage REITs Industry Analysis

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies40
  • 7D0.8%
  • 3M2.8%
  • 1Y-0.6%
  • YTD-5.4%

Over the last 7 days, the Mortgage REITs industry has remained flat, although notably AGNC Investment gained 4.4%. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 25% per annum.

Industry Valuation and Performance

Has the U.S. Mortgage REITs Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Jul 2026US$65.1bUS$14.3bUS$5.3b11.8x12.3x4.6x
Fri, 29 May 2026US$63.8bUS$14.3bUS$5.3b11.8x12.1x4.5x
Sun, 26 Apr 2026US$66.7bUS$13.8bUS$5.5b10.2x12.1x4.8x
Tue, 24 Mar 2026US$60.5bUS$14.1bUS$5.7b9.1x10.6x4.3x
Thu, 19 Feb 2026US$67.4bUS$12.8bUS$5.1b12.3x13.2x5.3x
Sat, 17 Jan 2026US$68.0bUS$12.6bUS$4.2b13.2x16.3x5.4x
Mon, 15 Dec 2025US$64.4bUS$12.6bUS$4.2b13.2x15.5x5.1x
Wed, 12 Nov 2025US$62.7bUS$12.5bUS$4.2b12.6x15.1x5x
Fri, 10 Oct 2025US$61.1bUS$10.4bUS$2.3b12.9x26.1x5.9x
Sun, 07 Sep 2025US$64.4bUS$10.4bUS$2.3b14.5x27.5x6.2x
Tue, 05 Aug 2025US$60.7bUS$10.6bUS$2.1b13x28.7x5.8x
Thu, 03 Jul 2025US$57.9bUS$10.5bUS$2.4b11.9x23.7x5.5x
Sat, 31 May 2025US$56.8bUS$10.5bUS$2.4b12.5x23.3x5.4x
Mon, 28 Apr 2025US$51.3bUS$10.7bUS$3.0b12.7x16.9x4.8x
Wed, 26 Mar 2025US$57.1bUS$11.2bUS$3.6b11.9x16x5.1x
Fri, 21 Feb 2025US$58.0bUS$11.9bUS$3.6b11.6x16.3x4.9x
Sun, 19 Jan 2025US$54.2bUS$10.3bUS$2.5b11x22x5.3x
Tue, 17 Dec 2024US$55.8bUS$10.3bUS$2.5b10.8x22.6x5.4x
Thu, 14 Nov 2024US$55.1bUS$10.3bUS$2.5b11x22.3x5.3x
Sat, 12 Oct 2024US$40.8bUS$8.7bUS$1.8b14.3x22.1x4.7x
Mon, 09 Sep 2024US$41.5bUS$8.7bUS$1.8b15.3x22.5x4.8x
Wed, 07 Aug 2024US$39.6bUS$8.4bUS$1.9b12.4x20.5x4.7x
Fri, 05 Jul 2024US$42.5bUS$9.4bUS$2.7b9.4x15.8x4.5x
Sun, 02 Jun 2024US$46.6bUS$9.5bUS$2.9b10.5x15.9x4.9x
Tue, 30 Apr 2024US$45.5bUS$9.1bUS$2.7b11.9x17x5x
Thu, 28 Mar 2024US$46.2bUS$8.8bUS$2.3b13.1x20.2x5.3x
Sat, 24 Feb 2024US$44.7bUS$8.8bUS$2.2b11x20.1x5.1x
Mon, 22 Jan 2024US$47.7bUS$8.3bUS$2.4b11.3x19.7x5.8x
Wed, 20 Dec 2023US$50.6bUS$8.3bUS$2.4b11.4x20.9x6.1x
Fri, 17 Nov 2023US$44.8bUS$8.3bUS$2.4b9.9x18.6x5.4x
Sun, 15 Oct 2023US$41.1bUS$8.0bUS$2.2b10.6x18.7x5.2x
Tue, 12 Sep 2023US$46.0bUS$8.0bUS$2.2b11.8x20.9x5.8x
Thu, 10 Aug 2023US$45.6bUS$8.0bUS$2.2b11.7x20.9x5.7x
Sat, 08 Jul 2023US$37.7bUS$7.3bUS$1.3b12.4x28.4x5.1x
Price to Earnings Ratio

28.4x


Total Market Cap: US$37.7bTotal Earnings: US$1.3bTotal Revenue: US$7.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Mortgage REITs Industry Price to Earnings3Y Average 19.2x202420252026
Current Industry PE
  • Investors are pessimistic on the American Mortgage REITs industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 12.3x which is lower than its 3-year average PE of 19.2x.
  • The 3-year average PS ratio of 5.2x is higher than the industry's current PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Mortgage REITs industry have grown 58% per year over the last three years.
  • Revenues for these companies have grown 25% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Financials industry?

US Market1.92%
Financials-0.16%
Mortgage REITs0.82%
Mortgage REITs0.82%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AGNC AGNC InvestmentUS$10.904.4%
+US$528.0m		16.7%PE9.6x
PMT PennyMac Mortgage Investment TrustUS$11.2812.2%
+US$107.3m		-13.2%PE9.8x
RITM Rithm CapitalUS$9.392.0%
+US$100.5m		-18.1%PE8.8x
ARR ARMOUR Residential REITUS$17.453.9%
+US$80.6m		4.2%PE9.5x
NLY Annaly Capital ManagementUS$22.360.4%
+US$65.9m		17.4%PE8.1x

Latest News

FBRT
US$8.14
Franklin BSP Realty Trust
7D
-2.5%
1Y
-24.9%
Seeking Alpha • 6h

Franklin BSP Realty Trust Preferred: A High-Yield Allocation For An Elevated-Rate Environment

Summary Franklin BSP Realty Trust Series E preferred offers a ~9.78% yield at a ~23% discount to par, compensating for incremental credit risk. FBRT faces credit challenges in commercial real estate, particularly multi-family loans, prompting a reset of the common dividend to $0.20 to preserve book value. The Series E preferred stock is supported by a ~$1.13 billion common equity cushion, with the company further maintaining ~$116 million in unrestricted cash to support liquidity. The high yield reduces duration risk, and the discount to par offsets call risk, but this allocation suits investors willing to absorb elevated credit exposure. Read the full article on Seeking Alpha
NLY
US$22.36
Annaly Capital Management
7D
0.4%
1Y
17.4%
ARR
US$17.45
ARMOUR Residential REIT
7D
3.9%
1Y
4.2%
AGNC
US$10.90
AGNC Investment
7D
4.4%
1Y
16.7%
ARI
US$10.68
Apollo Commercial Real Estate Finance
7D
-2.1%
1Y
9.1%
ABR
US$5.42
Arbor Realty Trust
7D
6.3%
1Y
-50.2%
STWD
US$16.38
Starwood Property Trust
7D
-2.2%
1Y
-19.7%
BXMT
US$16.95
Blackstone Mortgage Trust
7D
-6.6%
1Y
-13.4%
RITM
US$9.39
Rithm Capital
7D
2.0%
1Y
-18.1%
PMT
US$11.28
PennyMac Mortgage Investment Trust
7D
12.2%
1Y
-13.2%
Narrative Update • Jun 25

PMT: Lower Run Rate EPS Will Still Support Future Upside

Analysts have lowered their average price target for PennyMac Mortgage Investment Trust by about $1 to reflect reduced run rate ROE and EPS expectations, as well as a lower valuation multiple following recent quarterly results and a decline in book value per share. Analyst Commentary Recent research updates on PennyMac Mortgage Investment Trust highlight a more cautious tone, with several firms trimming price targets and adjusting their assumptions following the latest quarterly results and changes in book value per share.
CMTG
US$2.35
Claros Mortgage Trust
7D
-6.0%
1Y
-20.3%
Narrative Update • Jun 25

CMTG: Future Returns Will Reflect Revised 225 Outlook And Execution Risks

Analysts have lifted the Claros Mortgage Trust price target sharply from $2.50 to $225, citing updated assumptions that include a revised fair value estimate, an adjusted discount rate and refreshed earnings expectations reflected in the future P/E. What’s in the News for Claros Mortgage Trust No recent Claros Mortgage Trust specific news items were identified in the provided sources.
BRSP
US$5.45
BrightSpire Capital
7D
-2.2%
1Y
6.2%
Narrative Update • Jun 24

BRSP: Mixed Rating Shifts And Buybacks Will Shape Future Risk Balance

BrightSpire Capital's analyst price target has shifted modestly, with a $0.50 reduction cited alongside updated views on discount rates, expected revenue trends, profitability, and a slightly lower forward P/E, reflecting the mixed tone of recent analyst research. Analyst Commentary Recent Street research on BrightSpire Capital reflects a more cautious tone, with the modest price target cut underscoring concerns about how current fundamentals line up with the stock's valuation.
ORC
US$6.97
Orchid Island Capital
7D
3.0%
1Y
-1.0%
DX
US$13.11
Dynex Capital
7D
1.5%
1Y
7.0%
Seeking Alpha • Jun 19

Dynex: Bullish On The Basis Of Short-Run Macro Variables, Long-Run Risks Remain

Summary Dynex Capital remains attractive as a short-term macro play, leveraging current rate conditions and mortgage spread opportunities. DX’s recent performance saw an 18% total return since my last coverage, primarily from distributions, despite a 5.42% YTD market value decline. Unrealized Q1 losses of $251.8M, partially offset by hedging, highlight exposure to systemic shocks like the U.S.-Iran war. I remain bullish on DX, citing compelling mortgage spreads, favorable liquidity, and expectations for Treasury yields to normalize. Historical observations suggest that Dynex isn't a safe all-weather asset; it's a short-run bet on rates and market liquidity. Read the full article on Seeking Alpha
LADR
US$9.95
Ladder Capital
7D
-2.8%
1Y
-8.4%
Analysis Article • Jun 18

Ladder Capital (LADR) Stock Looks Rich With A 23.5x P E And $7.66 DCF Value

How Ladder Capital Stock Has Been Performing Recently Ladder Capital (LADR) has drawn investor attention after a mixed run in its share price, with the stock down over the year to date but showing gains over the past 3 months and year. This performance sits against reported revenue of $216.26 million and net income of $55.012 million, figures that help frame how the market is currently pricing this US$1.31b real estate investment trust. See our latest analysis for Ladder Capital. The latest...
TRTX
US$8.37
TPG RE Finance Trust
7D
-3.2%
1Y
6.5%