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U.S. Mortgage REITs Industry Analysis

UpdatedJun 18, 2026
DataAggregated Company Financials
Companies40
  • 7D0.6%
  • 3M-0.7%
  • 1Y-1.3%
  • YTD-6.8%

The Mortgage REITs is pretty flat in the last 7 days, but Annaly Capital Management has stood out, gaining 3.5%. Furthermore, the industry has been flat for the past year as well. As for the next few years, earnings are expected to grow by 27% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Jun 2026US$64.2bUS$14.3bUS$5.3b11.5x12.2x4.5x
Sat, 16 May 2026US$64.0bUS$14.3bUS$5.3b12.1x12.1x4.5x
Mon, 13 Apr 2026US$64.6bUS$14.1bUS$5.7b8.9x11.3x4.6x
Wed, 11 Mar 2026US$64.8bUS$14.1bUS$5.7b9.6x11.4x4.6x
Fri, 06 Feb 2026US$68.1bUS$12.7bUS$5.2b12.1x13.1x5.4x
Sun, 04 Jan 2026US$65.3bUS$12.6bUS$4.2b12.5x15.7x5.2x
Tue, 02 Dec 2025US$65.1bUS$12.6bUS$4.2b12.8x15.6x5.2x
Thu, 30 Oct 2025US$62.4bUS$12.2bUS$4.0b12.3x15.7x5.1x
Sat, 27 Sep 2025US$61.4bUS$10.4bUS$2.3b13.4x26.2x5.9x
Mon, 25 Aug 2025US$63.0bUS$10.4bUS$2.3b13.8x26.9x6.1x
Wed, 23 Jul 2025US$59.0bUS$10.4bUS$2.3b11.6x25.3x5.7x
Fri, 20 Jun 2025US$57.2bUS$10.5bUS$2.4b12.4x23.4x5.5x
Sun, 18 May 2025US$58.5bUS$10.5bUS$2.4b12.4x24x5.6x
Tue, 15 Apr 2025US$46.7bUS$11.2bUS$3.6b10.3x13.1x4.2x
Thu, 13 Mar 2025US$56.1bUS$11.2bUS$3.6b12.2x15.8x5x
Sat, 08 Feb 2025US$56.6bUS$11.4bUS$4.2b10.7x13.6x5x
Mon, 06 Jan 2025US$53.9bUS$10.3bUS$2.5b10.4x21.8x5.2x
Wed, 04 Dec 2024US$56.1bUS$10.3bUS$2.5b10.4x22.7x5.4x
Fri, 01 Nov 2024US$53.0bUS$9.9bUS$2.2b11x24.5x5.3x
Sun, 29 Sep 2024US$42.9bUS$8.7bUS$1.8b15.3x23.3x4.9x
Tue, 27 Aug 2024US$41.5bUS$8.7bUS$1.8b15.6x22.5x4.8x
Thu, 25 Jul 2024US$46.4bUS$8.9bUS$2.3b10.6x19.8x5.2x
Sat, 22 Jun 2024US$46.8bUS$9.5bUS$2.9b10.1x15.9x4.9x
Mon, 20 May 2024US$48.2bUS$9.5bUS$2.9b10.2x16.4x5.1x
Wed, 17 Apr 2024US$42.8bUS$8.8bUS$2.3b12.8x18.8x4.9x
Fri, 15 Mar 2024US$45.9bUS$8.8bUS$2.3b12.9x20.1x5.2x
Sun, 11 Feb 2024US$43.9bUS$8.1bUS$2.1b10.3x21.4x5.4x
Tue, 09 Jan 2024US$47.8bUS$8.3bUS$2.4b11.3x19.8x5.8x
Thu, 07 Dec 2023US$46.1bUS$8.3bUS$2.4b9.9x19.1x5.6x
Sat, 04 Nov 2023US$43.3bUS$8.1bUS$2.6b10.9x16.8x5.3x
Mon, 02 Oct 2023US$43.0bUS$8.0bUS$2.2b10.9x19.5x5.4x
Wed, 30 Aug 2023US$45.7bUS$8.0bUS$2.2b11.9x20.8x5.7x
Fri, 28 Jul 2023US$46.1bUS$7.5bUS$1.3b13.8x34.9x6.2x
Sun, 25 Jun 2023US$36.2bUS$7.3bUS$1.3b12.4x27.3x4.9x
Price to Earnings Ratio

27.3x


Total Market Cap: US$36.2bTotal 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 19.4x202420252026
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 12.2x which is lower than its 3-year average PE of 19.4x.
  • The 3-year average PS ratio of 5.2x is higher than the industry's current PS ratio of 4.5x.
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 Market1.98%
Financials3.31%
Mortgage REITs0.58%
Mortgage REITs0.58%
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$22.163.5%
+US$549.6m		15.5%PE8x
AGNC AGNC InvestmentUS$10.301.2%
+US$137.8m		11.2%PE9.1x
DX Dynex CapitalUS$13.052.3%
+US$62.4m		6.9%PE12.2x
RITM Rithm CapitalUS$9.200.4%
+US$22.3m		-17.9%PE8.6x
PMT PennyMac Mortgage Investment TrustUS$10.062.0%
+US$17.4m		-18.6%PE8.7x

Latest News

STWD
US$16.66
Starwood Property Trust
7D
-2.3%
1Y
-16.9%
Analysis Article • 6h

Starwood Property Trust (STWD) Stock Could Be 18% Below Fair Value Despite Recent Weakness

Starwood Property Trust (STWD) has drawn investor attention after recent share performance. The stock closed at US$16.66 and recorded declines over the past week, month, past 3 months and year to date. See our latest analysis for Starwood Property Trust. Looking beyond the latest move, Starwood Property Trust’s share price has been under pressure in recent months, while its 3 year total shareholder return of 15.31% suggests longer term holders have seen much steadier results. If this REIT’s...
NLY
US$22.16
Annaly Capital Management
7D
3.5%
1Y
15.5%
Analysis Article • 11h

Annaly Capital Management (NLY) Stock Could Be 8% Undervalued After Dividend Raise

Dividend increase and shareholder vote set the tone Annaly Capital Management (NLY) has drawn fresh attention after raising its quarterly cash dividend to US$0.75 per share and reporting voting results from its recent annual general meeting. The higher payout, scheduled for July 31, 2026, and the decision not to adopt stockholder written consent together give investors new information on how the mortgage REIT is approaching capital returns and corporate governance. See our latest analysis for...
LADR
US$10.11
Ladder Capital
7D
-1.9%
1Y
-4.6%
Analysis Article • 17h

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...
ARI
US$10.72
Apollo Commercial Real Estate Finance
7D
-1.6%
1Y
9.4%
DX
US$13.05
Dynex Capital
7D
2.3%
1Y
6.9%
BRSP
US$5.45
BrightSpire Capital
7D
-3.2%
1Y
6.4%
PMT
US$10.06
PennyMac Mortgage Investment Trust
7D
2.0%
1Y
-18.6%
BXMT
US$17.83
Blackstone Mortgage Trust
7D
-2.2%
1Y
-7.7%
Analysis Article • Jun 17

Blackstone Mortgage Trust (BXMT) Stock Could Be 12.7% Undervalued But Risks Remain

Blackstone Mortgage Trust (BXMT) drew fresh attention after its recent trading session, with the stock closing at $18.34. Investors are reassessing the mortgage REIT’s income profile and risk exposure in commercial real estate lending. See our latest analysis for Blackstone Mortgage Trust. Looking beyond the latest move to $18.34, Blackstone Mortgage Trust has seen mixed momentum, with the share price return down 5.85% year to date but a 1 year total shareholder return of 6.38% and 3 year...
KREF
US$6.80
KKR Real Estate Finance Trust
7D
-4.9%
1Y
-26.5%
Narrative Update • Jun 17

KREF: Lowered Street Outlook And Dividend Cut Will Pressure Share Returns

Analysts have trimmed their average price target on KKR Real Estate Finance Trust by several dollars, reflecting updated views on fair value at about $6.50, a slightly lower discount rate, a very large revenue growth assumption, stronger profit margins around 48%, and a forward P/E near 8x. Analyst Commentary Recent Street research on KKR Real Estate Finance Trust points to a more cautious stance, with several firms trimming price targets and one downgrade to a more neutral rating.
ACRE
US$4.61
Ares Commercial Real Estate
7D
-7.2%
1Y
-4.6%
Narrative Update • Jun 17

ACRE: Credit Resolution And Dividend Support Will Shape Forward P E Framework

The analyst price target for Ares Commercial Real Estate has edged up from $5.25 to $5.30. Analysts point to updated assumptions around revenue growth, profit margin, and a modestly lower future P/E multiple, framed against recent Street research that includes a $5.50 target and Neutral rating from UBS, as well as reduced $5.50 targets from both Keefe Bruyette and JPMorgan.
AGNC
US$10.30
AGNC Investment
7D
1.2%
1Y
11.2%
Analysis Article • Jun 16

AGNC Investment (AGNC) Stock Valuation Check After Intrinsic Discount And Income Track Record

AGNC Investment (AGNC) has drawn fresh attention after recent trading left the stock with a value score of 5 and an intrinsic discount of about 41%, prompting investors to reassess its income focused mortgage REIT profile. See our latest analysis for AGNC Investment. At a share price of US$10.46, AGNC’s recent 1 day share price return of 1.45% and 7 day share price return of 3.46% sit against a year to date share price decline of 4.30%. Its 1 year total shareholder return of 28.99% and 3 year...
MFA
US$9.38
MFA Financial
7D
1.8%
1Y
-0.7%
IVR
US$8.05
Invesco Mortgage Capital
7D
1.9%
1Y
5.6%
RITM
US$9.20
Rithm Capital
7D
0.4%
1Y
-17.9%
Seeking Alpha • Jun 10

Rithm Capital: Buy The 11% Yield That The Rate Cycle Cannot Easily Break

Summary Rithm Capital is a diversified origination, servicing, and asset management company, not a traditional agency-focused mortgage REIT. RITM’s income is driven by fee and servicing businesses, with a large MSR portfolio naturally hedging book value against rising rates. The Buy rating is based on a reliable ~11% yield, covered roughly twice by distributable earnings, with discount closure optionality but no near-term catalyst. Key risks include credit deterioration in lending and housing exposures, but current delinquencies remain low, and sentiment-driven corrections are not yet systemic. Read the full article on Seeking Alpha
EFC
US$13.42
Ellington Financial
7D
-1.4%
1Y
4.8%
CMTG
US$2.60
Claros Mortgage Trust
7D
3.6%
1Y
-19.0%
Narrative Update • Jun 05

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

Analysts have lifted their price target on Claros Mortgage Trust to $225 from $2.50, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as key drivers of the change. What's in the News No recent news items or key developments for Claros Mortgage Trust are available from the provided sources.