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U.S. Mortgage REITs Industry Analysis

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies40
  • 7D0.7%
  • 3M-3.1%
  • 1Y-2.2%
  • YTD-6.3%

In the last week, the Mortgage REITs industry is flat overall, with PennyMac Mortgage Investment Trust standing out by going down 3.1%. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are expected to grow by 26% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 10 Jun 2026US$61.9bUS$14.3bUS$5.3b11.5x11.7x4.3x
Fri, 08 May 2026US$65.8bUS$14.5bUS$5.6b11.5x11.7x4.5x
Sun, 05 Apr 2026US$62.6bUS$14.1bUS$5.7b8.7x11x4.4x
Tue, 03 Mar 2026US$66.4bUS$14.0bUS$5.7b9.8x11.7x4.7x
Thu, 29 Jan 2026US$71.5bUS$13.6bUS$5.1b12.8x14x5.3x
Sat, 27 Dec 2025US$65.7bUS$12.6bUS$4.2b12.9x15.8x5.2x
Mon, 24 Nov 2025US$62.9bUS$12.6bUS$4.2b12.4x15.1x5x
Wed, 22 Oct 2025US$61.6bUS$11.0bUS$2.9b13.1x21.1x5.6x
Fri, 19 Sep 2025US$63.7bUS$10.4bUS$2.3b14x27.2x6.1x
Sun, 17 Aug 2025US$61.8bUS$10.4bUS$2.3b13.6x26.3x5.9x
Tue, 15 Jul 2025US$58.8bUS$10.5bUS$2.4b11.6x24.1x5.6x
Thu, 12 Jun 2025US$58.0bUS$10.5bUS$2.4b13.1x23.8x5.6x
Sat, 10 May 2025US$56.0bUS$10.4bUS$2.5b10.8x22.8x5.4x
Mon, 07 Apr 2025US$50.5bUS$11.2bUS$3.6b11.2x14.1x4.5x
Wed, 05 Mar 2025US$56.8bUS$11.2bUS$3.5b12.3x16x5.1x
Fri, 31 Jan 2025US$53.8bUS$11.4bUS$3.8b10.9x14.2x4.7x
Sun, 29 Dec 2024US$53.3bUS$10.3bUS$2.5b10.3x21.6x5.2x
Tue, 26 Nov 2024US$55.3bUS$10.3bUS$2.5b10.6x22.4x5.4x
Thu, 24 Oct 2024US$41.2bUS$9.8bUS$2.6b11.9x15.8x4.2x
Sat, 21 Sep 2024US$43.5bUS$8.7bUS$1.8b15.4x23.6x5x
Mon, 19 Aug 2024US$40.9bUS$8.7bUS$1.8b15.1x22.2x4.7x
Wed, 17 Jul 2024US$45.0bUS$9.4bUS$2.7b10x16.7x4.8x
Fri, 14 Jun 2024US$46.7bUS$9.5bUS$2.9b10.1x15.9x4.9x
Sun, 12 May 2024US$47.1bUS$9.5bUS$2.9b10.2x16.1x5x
Tue, 09 Apr 2024US$44.9bUS$8.8bUS$2.3b13.2x19.7x5.1x
Thu, 07 Mar 2024US$44.9bUS$8.8bUS$2.3b10.3x19.6x5.1x
Sat, 03 Feb 2024US$46.0bUS$8.2bUS$2.1b9.9x21.8x5.6x
Mon, 01 Jan 2024US$48.9bUS$8.3bUS$2.4b11.3x20.2x5.9x
Wed, 29 Nov 2023US$45.2bUS$8.3bUS$2.4b9.8x18.7x5.5x
Fri, 27 Oct 2023US$38.8bUS$8.0bUS$2.1b10x18.4x4.9x
Sun, 24 Sep 2023US$44.5bUS$8.0bUS$2.2b11x20.2x5.6x
Tue, 22 Aug 2023US$43.1bUS$8.0bUS$2.2b11.1x19.6x5.4x
Thu, 20 Jul 2023US$41.1bUS$7.3bUS$1.3b13.7x30.9x5.6x
Sat, 17 Jun 2023US$37.9bUS$7.3bUS$1.3b12.7x28.6x5.2x
Price to Earnings Ratio

28.6x


Total Market Cap: US$37.9bTotal 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 19.5x202420252026
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 11.7x which is lower than its 3-year average PE of 19.5x.
  • The 3-year average PS ratio of 5.2x is higher than the industry's current PS ratio of 4.3x.
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 Market-3.33%
Financials1.60%
Mortgage REITs0.74%
Mortgage REITs0.74%
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
NLY Annaly Capital ManagementUS$21.711.9%
+US$300.4m		12.1%PE7.9x
AGNC AGNC InvestmentUS$10.311.1%
+US$126.3m		10.5%PE9.1x
RITM Rithm CapitalUS$9.341.0%
+US$50.2m		-17.8%PE8.7x
LADR Ladder CapitalUS$10.402.1%
+US$26.8m		-3.8%PE24.1x
STWD Starwood Property TrustUS$17.160.4%
+US$22.2m		-15.8%PE18.6x

Latest News

ABR
US$5.31
Arbor Realty Trust
7D
-2.0%
1Y
-49.1%
DX
US$12.96
Dynex Capital
7D
0.7%
1Y
5.4%
Seeking Alpha • Jun 09

Dynex Capital: Time To Sleep Well With This 16% Yield

Summary Dynex Capital is initiated at Buy, offering a nearly 16% yield and exposure to agency RMBS with manageable leverage. DX's Q1 negative economic return was driven by higher rates and wider mortgage spreads, but forward income prospects are strong if funding costs ease. DX trades at 1.02x book value, with an 8% price upside to 1.1x book and a compelling 24% total return potential over twelve months. Key risks include rate and spread volatility, high leverage at 8.6x, and the sustainability of the dividend if book value declines persist. Read the full article on Seeking Alpha
ACR
US$18.34
ACRES Commercial Realty
7D
-10.1%
1Y
1.2%
Narrative Update • Jun 08

ACR: Share Repurchases And Solid Margins Will Support Future Upside

Analysts have maintained their $24.50 price target for ACRES Commercial Realty, citing a revised outlook that now incorporates a decline in projected revenue growth, a slightly higher future P/E of 4.40, and a steady profit margin of 48.22%. What's in the News On April 27, 2026, the Audit Committee decided to dismiss Ernst & Young LLP as ACRES Commercial Realty's independent registered public accounting firm, with the change taking effect after filing the Form 10-Q for the quarter ended March 31, 2026.
PMT
US$10.11
PennyMac Mortgage Investment Trust
7D
-3.1%
1Y
-20.6%
Narrative Update • Jun 07

PMT: Lowered ROE And EPS Expectations Will Still Support Future Upside

Narrative Update on PennyMac Mortgage Investment Trust The analyst price target for PennyMac Mortgage Investment Trust has been trimmed by about $0.50 to reflect lower expectations for run rate ROE and EPS, a reduced book value per share, and lower valuation multiples cited across recent Neutral and Market Perform research calls. Analyst Commentary Recent research updates on PennyMac Mortgage Investment Trust focus on reduced earnings expectations, lower run rate returns, and trimmed valuation multiples, which together have led to lower price targets and at least one rating downgrade.
AGNC
US$10.31
AGNC Investment
7D
1.1%
1Y
10.5%
STWD
US$17.16
Starwood Property Trust
7D
0.4%
1Y
-15.8%
Narrative Update • Jun 06

STWD: Diversified Platform And Buybacks Will Counter Credit And Funding Concerns

The consensus analyst price target for Starwood Property Trust has edged slightly lower by about $0.05, as analysts factor in recent Street research that balances modest target trims around $19.50 with views that the company’s balance sheet, platform strength, and diversified business model support a premium valuation within the commercial mortgage REIT sector. Analyst Commentary Recent research on Starwood Property Trust reflects a mix of optimism around the platform and balance sheet, alongside some caution visible in modest target trims.
RITM
US$9.34
Rithm Capital
7D
1.0%
1Y
-17.8%
Narrative Update • Jun 06

RITM: Book Value Stability And Income Initiatives Will Support Future Upside Potential

Analysts have slightly trimmed their average price target for Rithm Capital to about $13.61, reflecting modest adjustments to fair value, growth and margin assumptions, even as some recent research has highlighted book value stability and dividend income potential. Analyst Commentary Recent research on Rithm Capital presents a mixed picture, with some analysts highlighting support for the stock around book value and income potential, while others are more restrained on upside and trim their price targets accordingly.
IVR
US$7.96
Invesco Mortgage Capital
7D
1.7%
1Y
2.8%
Narrative Update • Jun 05

IVR: Adjusted P E And Leadership Transition Will Shape Future Return Profile

Analysts have trimmed their price target on Invesco Mortgage Capital by $0.50, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E, which refine their view of the stock's risk and return profile. What's in the News Invesco Mortgage Capital Inc.
LADR
US$10.40
Ladder Capital
7D
2.1%
1Y
-3.8%
KREF
US$7.13
KKR Real Estate Finance Trust
7D
4.7%
1Y
-24.1%
Narrative Update • Jun 03

KREF: Future Returns Will Reflect Credit Quality And Earnings Visibility Reassessment

Analysts have reduced their average price target on KKR Real Estate Finance Trust by $2.50 to $7.00 as they reassess fair value, risk assumptions, growth expectations, profitability, and future P/E multiples in light of recent research updates from multiple firms. Analyst Commentary Recent research has generally taken a more cautious stance on KKR Real Estate Finance Trust, with several firms trimming price targets and at least one downgrade in rating.
ARR
US$17.16
ARMOUR Residential REIT
7D
-0.6%
1Y
2.4%
NLY
US$21.71
Annaly Capital Management
7D
1.9%
1Y
12.1%
RWT
US$5.19
Redwood Trust
7D
-3.4%
1Y
-11.0%
ORC
US$6.64
Orchid Island Capital
7D
-1.5%
1Y
-6.2%
MFA
US$9.36
MFA Financial
7D
-1.2%
1Y
-3.1%
CIM
US$13.38
Chimera Investment
7D
-1.2%
1Y
-3.8%
Narrative Update • May 09

CIM: Higher Dividend And Buyback History Will Support Steady Outlook

Analysts have modestly revised their price target on Chimera Investment to $14.00 from $14.00, citing updated assumptions around revenue growth, profit margin, and a lower forward P/E multiple as key inputs in their refreshed models. What's in the News Chimera Investment reported that from October 1, 2025 to December 31, 2025, it repurchased 0 shares for US$0 million under its existing buyback program, leaving the overall authorization unchanged for that period (Key Developments).