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U.S. Mortgage REITs Industry Analysis

UpdatedMay 27, 2026
DataAggregated Company Financials
Companies40
  • 7D2.1%
  • 3M-5.1%
  • 1Y0.7%
  • YTD-6.2%

In the last week, the Mortgage REITs industry is flat overall, with Arbor Realty Trust standing out by going down 4.1%. In line with that, the industry has also been flat over the past 12 months. Looking forward, 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
Wed, 27 May 2026US$62.9bUS$14.3bUS$5.3b11.7x11.9x4.4x
Fri, 24 Apr 2026US$66.9bUS$14.0bUS$5.6b10x12x4.8x
Sun, 22 Mar 2026US$60.5bUS$14.1bUS$5.7b8.9x10.6x4.3x
Tue, 17 Feb 2026US$67.7bUS$12.8bUS$5.1b12.4x13.2x5.3x
Thu, 15 Jan 2026US$66.1bUS$12.6bUS$4.2b12.9x15.9x5.3x
Sat, 13 Dec 2025US$64.5bUS$12.6bUS$4.2b13.2x15.5x5.1x
Mon, 10 Nov 2025US$63.1bUS$12.4bUS$4.2b12.6x15.1x5.1x
Wed, 08 Oct 2025US$60.4bUS$10.4bUS$2.3b13.1x25.8x5.8x
Fri, 05 Sep 2025US$63.4bUS$10.4bUS$2.3b14.3x27x6.1x
Sun, 03 Aug 2025US$60.7bUS$10.3bUS$2.1b12.7x28.7x5.9x
Tue, 01 Jul 2025US$57.9bUS$10.5bUS$2.4b11.4x23.7x5.5x
Thu, 29 May 2025US$56.3bUS$10.5bUS$2.4b12.6x23.1x5.4x
Sat, 26 Apr 2025US$50.8bUS$11.0bUS$3.2b12.7x15.7x4.6x
Mon, 24 Mar 2025US$57.2bUS$11.2bUS$3.6b12x16.1x5.1x
Wed, 19 Feb 2025US$57.8bUS$11.1bUS$3.9b11.7x15x5.2x
Fri, 17 Jan 2025US$53.1bUS$10.3bUS$2.5b10.5x21.5x5.1x
Sun, 15 Dec 2024US$55.8bUS$10.3bUS$2.5b10.7x22.6x5.4x
Tue, 12 Nov 2024US$56.0bUS$10.3bUS$2.5b11x22.6x5.4x
Thu, 10 Oct 2024US$40.7bUS$8.7bUS$1.8b14.2x22.1x4.7x
Sat, 07 Sep 2024US$41.5bUS$8.7bUS$1.8b15.3x22.5x4.8x
Mon, 05 Aug 2024US$40.7bUS$8.4bUS$1.9b12.4x21x4.8x
Wed, 03 Jul 2024US$41.9bUS$9.4bUS$2.7b9.4x15.5x4.5x
Fri, 31 May 2024US$46.1bUS$9.5bUS$2.9b10.6x15.7x4.8x
Sun, 28 Apr 2024US$45.5bUS$9.1bUS$2.7b11.8x17x5x
Tue, 26 Mar 2024US$46.1bUS$8.8bUS$2.3b13.4x20.2x5.3x
Thu, 22 Feb 2024US$44.8bUS$8.8bUS$2.2b12.3x20.3x5.1x
Sat, 20 Jan 2024US$47.4bUS$8.3bUS$2.4b11.3x19.6x5.7x
Mon, 18 Dec 2023US$50.0bUS$8.3bUS$2.4b11.1x20.7x6x
Wed, 15 Nov 2023US$43.3bUS$8.3bUS$2.4b11.1x17.9x5.2x
Fri, 13 Oct 2023US$42.5bUS$8.0bUS$2.2b10.6x19.3x5.3x
Sun, 10 Sep 2023US$45.3bUS$8.0bUS$2.2b11.8x20.6x5.7x
Tue, 08 Aug 2023US$46.0bUS$7.9bUS$1.9b11.9x23.9x5.8x
Thu, 06 Jul 2023US$37.5bUS$7.3bUS$1.3b12.1x28.3x5.1x
Sat, 03 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 11.9x 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 Market2.46%
Financials1.50%
Mortgage REITs2.09%
Mortgage REITs2.09%
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$10.433.0%
+US$344.4m		16.1%PE9.2x
NLY Annaly Capital ManagementUS$21.611.6%
+US$241.8m		13.7%PE7.8x
STWD Starwood Property TrustUS$17.373.2%
+US$200.2m		-11.9%PE18.8x
RITM Rithm CapitalUS$9.273.0%
+US$150.7m		-18.0%PE8.6x
BXMT Blackstone Mortgage TrustUS$18.242.5%
+US$77.0m		-3.9%PE30.1x

Latest News

RITM
US$9.27
Rithm Capital
7D
3.0%
1Y
-18.0%
NLY
US$21.61
Annaly Capital Management
7D
1.6%
1Y
13.7%
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$17.37
Starwood Property Trust
7D
3.2%
1Y
-11.9%
ABR
US$5.43
Arbor Realty Trust
7D
-6.5%
1Y
-44.9%
AOMR
US$8.17
Angel Oak Mortgage REIT
7D
-1.0%
1Y
-11.1%
AGNC
US$10.43
AGNC Investment
7D
3.0%
1Y
16.1%
Seeking Alpha • May 20

AGNC Investment Corp.'s 13.4% Yield Is Bleeding It Dry

Summary AGNC Investment Corp. is rated 'sell' due to unsustainable payouts exceeding profits and persistent net asset value per share decline. AGNC's high 13.4% yield is funded by significant share issuance, not sustainable earnings, leading to long-term value erosion. Volatility is inherent in AGNC's leveraged, agency MBS-focused model, with high leverage (7.4x) amplifying both returns and risks. Despite short-term outperformance potential if rates fall, AGNC has chronically underperformed major indices over the long run. Read the full article on Seeking Alpha
SACH
US$1.20
Sachem Capital
7D
0%
1Y
25.6%
LFT
US$1.06
Lument Finance Trust
7D
-1.9%
1Y
-57.6%
BXMT
US$18.24
Blackstone Mortgage Trust
7D
2.5%
1Y
-3.9%
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$13.00
Dynex Capital
7D
1.7%
1Y
9.2%
ARR
US$16.92
ARMOUR Residential REIT
7D
3.1%
1Y
5.3%
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$8.53
Franklin BSP Realty Trust
7D
-5.1%
1Y
-22.5%
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.
RPT
US$14.32
Rithm Property Trust
7D
-0.2%
1Y
-12.3%
CIM
US$13.47
Chimera Investment
7D
3.6%
1Y
2.4%
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).