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U.S. Mortgage REITs Industry Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies40
  • 7D1.2%
  • 3M-5.7%
  • 1Y1.2%
  • YTD-5.7%

Over the last 7 days, the Mortgage REITs industry has risen 1.2%, driven by gains from AGNC Investment of 2.5%. The industry has been flat over the past 12 months despite the gain this week. Earnings are forecast to grow by 26% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 28 May 2026US$63.5bUS$14.3bUS$5.3b11.8x12x4.4x
Sat, 25 Apr 2026US$66.0bUS$13.9bUS$5.6b10x11.9x4.8x
Mon, 23 Mar 2026US$60.5bUS$14.1bUS$5.7b8.9x10.6x4.3x
Wed, 18 Feb 2026US$67.7bUS$12.8bUS$5.1b12.4x13.2x5.3x
Fri, 16 Jan 2026US$67.0bUS$12.6bUS$4.2b13x16.1x5.3x
Sun, 14 Dec 2025US$64.4bUS$12.6bUS$4.2b13.2x15.5x5.1x
Tue, 11 Nov 2025US$63.1bUS$12.4bUS$4.2b12.4x15.2x5.1x
Thu, 09 Oct 2025US$60.5bUS$10.4bUS$2.3b13.3x25.8x5.8x
Sat, 06 Sep 2025US$64.4bUS$10.4bUS$2.3b14.5x27.5x6.2x
Mon, 04 Aug 2025US$60.7bUS$10.6bUS$2.1b12.7x28.7x5.8x
Wed, 02 Jul 2025US$57.9bUS$10.5bUS$2.4b11.4x23.7x5.5x
Fri, 30 May 2025US$56.4bUS$10.5bUS$2.4b12.1x23.1x5.4x
Sun, 27 Apr 2025US$51.5bUS$10.7bUS$3.0b12.7x16.9x4.8x
Tue, 25 Mar 2025US$57.2bUS$11.2bUS$3.6b12.1x16.1x5.1x
Thu, 20 Feb 2025US$57.8bUS$11.1bUS$3.9b11.7x15x5.2x
Sat, 18 Jan 2025US$53.8bUS$10.3bUS$2.5b11x21.8x5.2x
Mon, 16 Dec 2024US$55.8bUS$10.3bUS$2.5b10.7x22.6x5.4x
Wed, 13 Nov 2024US$56.2bUS$10.3bUS$2.5b11x22.7x5.4x
Fri, 11 Oct 2024US$40.7bUS$8.7bUS$1.8b14.1x22.1x4.7x
Sun, 08 Sep 2024US$41.5bUS$8.7bUS$1.8b15.3x22.5x4.8x
Tue, 06 Aug 2024US$40.7bUS$8.4bUS$1.9b12.1x21x4.8x
Thu, 04 Jul 2024US$42.5bUS$9.4bUS$2.7b9.4x15.8x4.5x
Sat, 01 Jun 2024US$46.1bUS$9.5bUS$2.9b10.5x15.7x4.8x
Mon, 29 Apr 2024US$45.5bUS$9.1bUS$2.7b11.8x17x5x
Wed, 27 Mar 2024US$46.4bUS$8.8bUS$2.3b13.4x20.3x5.3x
Fri, 23 Feb 2024US$44.7bUS$8.8bUS$2.3b12.4x19.6x5.1x
Sun, 21 Jan 2024US$47.4bUS$8.3bUS$2.4b11.3x19.6x5.7x
Tue, 19 Dec 2023US$50.0bUS$8.3bUS$2.4b11.2x20.7x6x
Thu, 16 Nov 2023US$45.6bUS$8.3bUS$2.4b10.1x18.9x5.5x
Sat, 14 Oct 2023US$41.1bUS$8.0bUS$2.2b10.6x18.7x5.2x
Mon, 11 Sep 2023US$45.3bUS$8.0bUS$2.2b11.8x20.6x5.7x
Wed, 09 Aug 2023US$45.9bUS$8.0bUS$2.2b11.9x21x5.8x
Fri, 07 Jul 2023US$37.0bUS$7.3bUS$1.3b12.3x27.9x5x
Sun, 04 Jun 2023US$35.3bUS$7.3bUS$1.3b10.9x26.6x4.8x
Price to Earnings Ratio

26.6x


Total Market Cap: US$35.3bTotal 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 19.7x202420252026
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 12.0x which is lower than its 3-year average PE of 19.7x.
  • The 3-year average PS ratio of 5.2x is higher than the industry's current PS ratio of 4.4x.
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 Market1.27%
Financials-0.40%
Mortgage REITs1.22%
Mortgage REITs1.22%
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$10.512.5%
+US$298.5m		15.7%PE9.3x
BXMT Blackstone Mortgage TrustUS$18.583.5%
+US$106.1m		-1.4%PE30.7x
NLY Annaly Capital ManagementUS$21.660.5%
+US$73.3m		13.5%PE7.8x
ARR ARMOUR Residential REITUS$17.023.3%
+US$68.2m		5.5%PE9.2x
STWD Starwood Property TrustUS$17.311.0%
+US$63.0m		-12.3%PE18.8x

Latest News

AOMR
US$8.33
Angel Oak Mortgage REIT
7D
-0.8%
1Y
-8.4%
AGNC
US$10.51
AGNC Investment
7D
2.5%
1Y
15.7%
ABR
US$5.50
Arbor Realty Trust
7D
-4.8%
1Y
-43.8%
PMT
US$10.48
PennyMac Mortgage Investment Trust
7D
-0.2%
1Y
-14.7%
Narrative Update • May 24

PMT: Recalibrated Earnings And Margins Will Support Future Upside Potential

Analysts have trimmed their average price target on PennyMac Mortgage Investment Trust by about $0.54 to $12.61, citing updated assumptions around fair value, discount rates, revenue trends, profit margins, and future P/E expectations. Analyst Commentary Recent research updates around PennyMac Mortgage Investment Trust point to a more balanced and selective stance.
NLY
US$21.66
Annaly Capital Management
7D
0.5%
1Y
13.5%
Seeking Alpha • May 24

How To Get The Best Slice Of Annaly Capital

Summary Annaly Capital faces potential NAV erosion from rising rates and term spread compression but currently trades near its historical valuation premium versus peers. Lower hedge ratios have increased NLY’s interest rate sensitivity, worsening the outlook if policy rates rise or stay elevated. Ongoing equity issuance dilutes shareholders but is partly offset by redeployment into higher‑yielding assets instead of lower‑yield agency MBS. Term spread compression threatens NLY’s net interest spread and dividend capacity, making the preferred shares relatively more appealing to income‑focused investors. Among NLY securities, the fixed‑rate Series J preferred stands out by offering an 8.875% coupon and potential price upside if long‑term rates decline. Read the full article on Seeking Alpha
STWD
US$17.31
Starwood Property Trust
7D
1.0%
1Y
-12.3%
TWO
US$12.49
Two Harbors Investment
7D
-0.2%
1Y
14.1%
SACH
US$1.17
Sachem Capital
7D
-3.3%
1Y
20.5%
ARI
US$10.93
Apollo Commercial Real Estate Finance
7D
-0.5%
1Y
11.1%
LFT
US$1.03
Lument Finance Trust
7D
-9.6%
1Y
-58.8%
BXMT
US$18.58
Blackstone Mortgage Trust
7D
3.5%
1Y
-1.4%
Seeking Alpha • May 15

Blackstone Mortgage Trust: Back At The Bottom Of The Range, But Something Has Changed (Rating Downgrade)

Summary With $46M in charge-offs this quarter, CECL reserves are no longer just "paper losses"—they are crystallized hits to Blackstone Mortgage Trust’s capital, proving that lent money is officially not coming back. Earnings of $0.21 per share significantly trail the $0.47 dividend. While the company highlights "distributable earnings," the persistent need for massive credit reserves suggests the current payout is increasingly fragile. Blackstone Mortgage Trust now holds over $1.15 billion in foreclosed real estate. Far from being a "hidden value" play, these assets are currently a "negative carry." Resurgent inflation and the geopolitical strain of the Iran war have pushed the yield curve higher. Since real estate valuations are inextricably linked to rates BXMT is under pressure. Read the full article on Seeking Alpha
DX
US$13.05
Dynex Capital
7D
1.4%
1Y
8.3%
ORC
US$6.91
Orchid Island Capital
7D
1.9%
1Y
-1.3%
ARR
US$17.02
ARMOUR Residential REIT
7D
3.3%
1Y
5.5%
Seeking Alpha • May 14

ARMOUR Residential REIT Preference Shares: High Monthly Income And Discount To Par

Summary ARMOUR Residential REIT has one series of preferred shares outstanding, (ARR.PR.C) - with a 7% coupon rate on a $25 par value. ARR.PR.C is presently trading at a ~16% discount to par, offering an above-coupon market yield of around ~8.3%, payable on a monthly basis. Interest rate trajectory appears favorable: while the upside remains limited even if rates decline, current already elevated rates and spread versus Treasuries present a favorable risk-reward proposition. ARR.PR.C is rated a buy for diversified, income-focused portfolios, with active monitoring of the issue warranted. The current ~8% yield with moderate capital appreciation possibility appears attractive for allocation. Moderate underperformances, management expense drags etcprimarily impact common shareholders, while preferred holders remain at large unaffected. Companies’ frequent capital issuances, even if diluting common equity doesn't negatively impact preference shares. Read the full article on Seeking Alpha
FBRT
US$8.61
Franklin BSP Realty Trust
7D
-0.8%
1Y
-21.4%
Narrative Update • May 13

FBRT: Dividend Reset And Buybacks Will Support Future Book Value Sustainability

Narrative Update Analysts have trimmed their average price target for Franklin BSP Realty Trust to $13.00, citing updated models after the dividend cut and a focus on preserving book value, rather than concerns about portfolio deterioration. Analyst Commentary Recent Street research on Franklin BSP Realty Trust centers on the reduced price targets and the implications of the dividend cut, with analysts weighing capital preservation against income and growth expectations.
LADR
US$10.24
Ladder Capital
7D
2.3%
1Y
-2.3%
Seeking Alpha • May 11

Why Ladder Capital's 9% Yield And Discounted Valuation Are Attractive

Summary Ladder Capital offers a 9% yield and trades at a 24% discount to undepreciated book value, presenting compelling value and income. LADR’s portfolio is 84% senior secured/investment-grade, with conservative underwriting and robust loan growth driven by capital recycling from securities. Management is capitalizing on CRE market dislocation, selectively originating new loans at attractive spreads and maintaining strong liquidity. Dividend coverage is expected to improve as LADR shifts from lower-yielding securities to higher-yielding loans, supporting the ‘Buy’ rating. Read the full article on Seeking Alpha