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U.S. Mortgage REITs Industry Analysis

UpdatedAug 13, 2026
DataAggregated Company Financials
Companies38
  • 7D1.9%
  • 3M-0.8%
  • 1Y-5.0%
  • YTD-6.2%

In the last week, the Mortgage REITs industry is up 1.9%, with Annaly Capital Management up 1.9%. In the same time, Granite Point Mortgage Trust was down 19%. However, the industry is down 5.0% over the past year. Earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 13 Aug 2026US$65.1bUS$16.9bUS$7.2b9x9x3.8x
Sat, 11 Jul 2026US$64.0bUS$14.3bUS$5.3b12.2x12.1x4.5x
Mon, 08 Jun 2026US$62.6bUS$14.3bUS$5.3b11.5x11.8x4.4x
Wed, 06 May 2026US$65.5bUS$14.3bUS$5.6b11.4x11.7x4.6x
Fri, 03 Apr 2026US$62.0bUS$14.1bUS$5.7b8.7x10.9x4.4x
Sun, 01 Mar 2026US$66.4bUS$14.0bUS$5.7b9.8x11.7x4.7x
Tue, 27 Jan 2026US$68.1bUS$12.7bUS$4.3b12.8x15.8x5.3x
Thu, 25 Dec 2025US$65.7bUS$12.6bUS$4.2b13x15.8x5.2x
Sat, 22 Nov 2025US$61.7bUS$12.6bUS$4.2b12.4x14.8x4.9x
Mon, 20 Oct 2025US$60.3bUS$10.4bUS$2.3b12.8x25.7x5.8x
Wed, 17 Sep 2025US$64.0bUS$10.4bUS$2.3b13.9x27.3x6.1x
Fri, 15 Aug 2025US$62.3bUS$10.4bUS$2.4b13.4x26.3x6x
Sun, 13 Jul 2025US$58.5bUS$10.5bUS$2.4b11.5x24x5.6x
Tue, 10 Jun 2025US$57.0bUS$10.5bUS$2.4b12.9x23.4x5.5x
Thu, 08 May 2025US$55.1bUS$10.4bUS$2.5b10.8x22.1x5.3x
Sat, 05 Apr 2025US$53.2bUS$11.2bUS$3.6b11.2x14.9x4.7x
Mon, 03 Mar 2025US$58.7bUS$11.4bUS$3.5b12.6x16.7x5.2x
Wed, 29 Jan 2025US$54.7bUS$10.1bUS$2.2b11.4x24.9x5.4x
Fri, 27 Dec 2024US$54.1bUS$10.3bUS$2.5b10.4x21.9x5.2x
Sun, 24 Nov 2024US$55.7bUS$10.3bUS$2.5b10.6x22.5x5.4x
Tue, 22 Oct 2024US$41.7bUS$8.8bUS$1.9b14.1x21.7x4.7x
Thu, 19 Sep 2024US$43.0bUS$8.7bUS$1.8b15.5x23.3x4.9x
Sat, 17 Aug 2024US$40.8bUS$8.7bUS$1.8b15.1x22.1x4.7x
Mon, 15 Jul 2024US$44.7bUS$9.4bUS$2.7b9.8x16.6x4.8x
Wed, 12 Jun 2024US$46.0bUS$9.5bUS$2.9b10.1x15.6x4.8x
Fri, 10 May 2024US$46.1bUS$9.5bUS$3.0b10x15.5x4.9x
Sun, 07 Apr 2024US$44.9bUS$8.8bUS$2.3b13.7x19.7x5.1x
Tue, 05 Mar 2024US$44.6bUS$8.7bUS$2.2b11.8x19.9x5.1x
Thu, 01 Feb 2024US$48.1bUS$8.0bUS$2.1b10.3x23.3x6x
Sat, 30 Dec 2023US$50.0bUS$8.3bUS$2.4b11.3x20.7x6x
Mon, 27 Nov 2023US$45.4bUS$8.3bUS$2.4b9.8x18.8x5.5x
Wed, 25 Oct 2023US$38.8bUS$8.0bUS$2.2b10.2x17.6x4.9x
Fri, 22 Sep 2023US$44.2bUS$8.0bUS$2.2b11x20.1x5.5x
Sun, 20 Aug 2023US$43.1bUS$8.0bUS$2.2b11.1x19.6x5.4x
Price to Earnings Ratio

19.6x


Total Market Cap: US$43.1bTotal Earnings: US$2.2bTotal Revenue: US$8.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Mortgage REITs Industry Price to Earnings3Y Average 18.5x202420252026
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 9.0x which is lower than its 3-year average PE of 18.5x.
  • The 3-year average PS ratio of 5.1x is higher than the industry's current PS ratio of 3.8x.
Past Earnings Growth
  • The earnings for companies in the Mortgage REITs industry have grown 49% per year over the last three years.
  • Revenues for these companies have grown 29% 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 Market1.02%
Financials-0.30%
Mortgage REITs1.88%
Mortgage REITs1.88%
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$23.111.9%
+US$331.6m		10.8%PE6.3x
AGNC AGNC InvestmentUS$10.882.0%
+US$249.0m		12.6%PE6.2x
EFC Ellington FinancialUS$13.622.9%
+US$95.2m		-0.7%PE9x
STWD Starwood Property TrustUS$16.461.5%
+US$83.1m		-18.1%PE27.9x
RITM Rithm CapitalUS$10.231.3%
+US$72.6m		-17.1%PE17.1x

Latest News

AGNC
US$10.88
AGNC Investment
7D
2.0%
1Y
12.6%
SUNS
US$7.51
Sunrise Realty Trust
7D
-2.7%
1Y
-30.3%
ACR
US$14.11
ACRES Commercial Realty
7D
-4.3%
1Y
-29.0%
GPMT
US$1.22
Granite Point Mortgage Trust
7D
-18.7%
1Y
-57.5%
STWD
US$16.46
Starwood Property Trust
7D
1.5%
1Y
-18.1%
Seeking Alpha • 18h

Starwood Property: Don't Fool Yourself, A Dividend Cut Is Coming (Rating Downgrade)

Summary Starwood Property Trust, Inc. again failed to cover its $0.48 dividend in Q2 ’26, marking six consecutive quarters of under-coverage. STWD’s dividend coverage ratio was 83% in Q2 ’26, lagging peers Ladder Capital and Blackstone Mortgage Trust, both of which exceeded 100%. Despite improving collateral diversification and a robust liquidity position, persistent dividend undercoverage puts STWD’s payout at risk. I see STWD’s current valuation as unjustified given weak coverage trends and superior alternatives trading at higher discounts to book value. Read the full article on Seeking Alpha
ADAM
US$10.16
Adamas Trust
7D
7.6%
1Y
46.8%
Seeking Alpha • 19h

Low Duration Additions To Our Portfolio From Adamas Trust

Summary Adamas Trust baby bonds, ADAMO and ADAMH, offer high yields reflecting significant credit risk due to elevated recourse leverage. ADAM's portfolio is heavily weighted toward single-family agency-backed mortgages, financed through repo agreements, increasing leverage and subordinating unsecured debt holders. Senior notes are supported by substantial common and preferred equity cushions but require vigilant monitoring and potential hedging due to sector/company risks. ADAMH and ADAMO are attractively priced relative to peers, but exposure demands active risk management given the mREIT's leverage profile. Read the full article on Seeking Alpha
MITT
US$6.70
TPG Mortgage Investment Trust
7D
-4.7%
1Y
-13.3%
NREF
US$16.80
NexPoint Real Estate Finance
7D
-0.7%
1Y
13.6%
EFC
US$13.62
Ellington Financial
7D
2.9%
1Y
-0.7%
RITM
US$10.23
Rithm Capital
7D
1.3%
1Y
-17.1%
Seeking Alpha • Aug 10

Rithm Capital: 240% Coverage, 10% Yield, 17% BV Discount

Summary Rithm Capital delivered strong Q2 distributable earnings, exceeding estimates and reflecting robust growth in asset management and mortgage investment segments. RITM benefits from a higher-for-longer rate environment, with its mortgage servicing rights portfolio set to gain in value as rates remain elevated. Shares trade at a 17% discount to book value, offering a favorable setup for high-yield investors amid ongoing business diversification. I see long-term opportunity as RITM evolves into a multi-vertical alternative investment platform, reducing revenue and cash flow volatility. Read the full article on Seeking Alpha
BXMT
US$14.28
Blackstone Mortgage Trust
7D
2.4%
1Y
-26.2%
SEVN
US$7.66
Seven Hills Realty Trust
7D
-0.9%
1Y
-30.0%
SACH
US$0.80
Sachem Capital
7D
-5.4%
1Y
-28.5%
BRSP
US$4.96
BrightSpire Capital
7D
-0.8%
1Y
-11.3%
Seeking Alpha • Jul 31

BrightSpire Capital: The Loan Book Is Finally Doing The Talking

Summary BrightSpire trades at a deep discount to book, offering a nearly 13% yield while the loan portfolio improves. BRSP's loan book is growing toward $3.5 billion, the watch list is shrinking, and the Albertsons sale removes a key refinancing risk. I rate BRSP a Buy—not for a quick re-rate, but for being paid to wait as the portfolio gets cleaner and the price-book gap narrows. Key risks include uncovered dividend, rising CECL reserves, and potential for further book value drift. Read the full article on Seeking Alpha
LADR
US$9.86
Ladder Capital
7D
4.0%
1Y
-13.2%
NLY
US$23.11
Annaly Capital Management
7D
1.9%
1Y
10.8%
Seeking Alpha • Jul 23

Annaly Capital: Double-Digit Yield And Trading At A Discount

Summary Annaly Capital Management is rated a Strong Buy for its 13.38% dividend yield and significant capital appreciation potential by 2030. NLY’s diversified REIT model, resilient through multiple economic cycles, benefits from agency MBS, MSR, and residential credit strategies with yields up to 16%. I expect falling interest rates to expand NLY’s net interest margin, driving both dividend growth and share price appreciation toward a $40 target by 2030. Risks include prolonged geopolitical instability or higher-for-longer rates, but NLY’s high yield and asset quality provide downside protection for income-focused investors. Read the full article on Seeking Alpha