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U.S. Mortgage REITs Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies40
  • 7D3.1%
  • 3M-7.1%
  • 1Y1.9%
  • YTDn/a

AGNC Investment is up 4.7%, leading the way for the Mortgage REITs industry, which has gained 3.1%. Overall in the last year, the industry is flat. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Mon, 15 May 2023US$32.3bUS$7.2bUS$1.3b10.9x24.3x4.5x
Wed, 12 Apr 2023US$39.0bUS$10.4bUS$4.8b8x8.2x3.8x
Price to Earnings Ratio

8.2x


Total Market Cap: US$39.0bTotal Earnings: US$4.8bTotal Revenue: US$10.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Mortgage REITs Industry Price to Earnings3Y Average 19.9x202420252026
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 11.0x which is lower than its 3-year average PE of 19.9x.
  • 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 6.1% per year over the last three years.
  • Revenues for these companies have grown 11% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does U.S. Mortgage REITs compare with similar industries?

US Market3.46%
Financials3.50%
Mortgage REITs3.13%
Mortgage REITs3.13%
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$10.154.7%
+US$516.7m		13.0%PE7.6x
NLY Annaly Capital ManagementUS$21.372.9%
+US$431.0m		13.5%PE8.2x
RITM Rithm CapitalUS$9.635.4%
+US$272.4m		-7.8%PE9.4x
ARR ARMOUR Residential REITUS$17.149.0%
+US$173.1m		13.7%PE6.8x
DX Dynex CapitalUS$12.875.8%
+US$141.4m		6.1%PE8.4x

Latest News

PMT
US$11.96
PennyMac Mortgage Investment Trust
7D
6.8%
1Y
-12.5%
STWD
US$17.22
Starwood Property Trust
7D
1.1%
1Y
-5.5%

STWD: Earnings Will Gradually Support Dividend And Share Repurchases Despite Recent Dilution

Analysts have trimmed their average price targets on Starwood Property Trust by about $1 per share to a range of roughly $19 to $21, as they factor in dilution from the FIP acquisition, excess liquidity weighing on near term earnings, and mixed credit trends alongside steady origination activity. Analyst Commentary Recent research updates point to a more cautious but still constructive stance on Starwood Property Trust, with price targets clustered around US$19 to US$21 and a range of views on how quickly earnings can align with the dividend and absorb recent dilution.
ARR
US$17.14
ARMOUR Residential REIT
7D
9.0%
1Y
13.7%
DX
US$12.87
Dynex Capital
7D
5.8%
1Y
6.1%
REFI
US$11.01
Chicago Atlantic Real Estate Finance
7D
-3.6%
1Y
-22.6%

REFI: Higher Non Accruals And Downgrade Will Shape Future Risk Return Balance

Analysts have trimmed their price target on Chicago Atlantic Real Estate Finance to $12.00, reflecting higher concern around non-accruals now at 12% and an estimated 10.5% cost of equity that points to a fair value closer to $13.64 per share. Analyst Commentary Bearish analysts are signaling a more cautious stance on Chicago Atlantic Real Estate Finance, with the latest views centering on rising non-accruals and the relationship between risk and expected return.
AGNC
US$10.15
AGNC Investment
7D
4.7%
1Y
13.0%
RITM
US$9.63
Rithm Capital
7D
5.4%
1Y
-7.8%

RITM: Paramount Integration And Index Additions Will Support Future Asset Management Earnings

Analysts have trimmed their average price target on Rithm Capital by about $1 to $16, citing recent target cuts from UBS and Piper Sandler, along with updated views on the earnings potential of its asset management segment following the Paramount Group acquisition. Analyst Commentary Recent research updates around the Paramount Group acquisition have given investors a mix of encouraging and cautious signals on Rithm Capital, with price targets adjusted and views on the asset management opportunity refined.
BXMT
US$18.68
Blackstone Mortgage Trust
7D
-0.9%
1Y
1.8%
TWO
US$11.12
Two Harbors Investment
7D
-0.9%
1Y
-3.6%
NLY
US$21.37
Annaly Capital Management
7D
2.9%
1Y
13.5%

NLY: Supportive Credit Conditions Are Expected To Sustain Future Balanced Returns

Annaly Capital Management's updated analyst price target has increased by several dollars. Analysts attribute this change to modest adjustments in the discount rate, slightly revised revenue growth expectations, a lower assumed profit margin, and a higher forward P/E, which together are considered the main drivers of the new estimate.
GPMT
US$1.32
Granite Point Mortgage Trust
7D
-5.7%
1Y
-40.3%
CHMI
US$2.53
Cherry Hill Mortgage Investment
7D
-0.4%
1Y
-12.2%
SUNS
US$7.69
Sunrise Realty Trust
7D
-3.8%
1Y
-21.7%
EFC
US$12.04
Ellington Financial
7D
4.2%
1Y
-3.1%