The REIT - Mortgage industry today
How the REIT - Mortgage industry stands against its own history and against the 500 largest US companies. We do not say where it goes next.
Close of Friday 6 November 2026 · updated every trading day
21 US companies of $300 million or more · $46.7B in total
ValuationWe compare today's value with every month since 2006. The usual range holds the middle 40% of those months. The marks show the value 1 month, 1 year and 5 years ago.
Prices against profits, sales and dividends
Price to earnings (P/E)What this measures: the total market value of the companies divided by their total profit of the last 12 months. Companies that lose money count too.
How high are prices against profits?
Higher than usual
High · higher than in 8 of 10 months since 2006
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Last 10 yearsEach point is one month. The dot is today.
Price to sales (P/S)What this measures: the total market value of the companies divided by their total sales of the last 12 months.
How high are prices against sales?
Far lower than usual
Low · the lowest since 2006
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Last 10 yearsEach point is one month. The dot is today.
Dividend yieldWhat this measures: the dividends of the last 12 months divided by the total market value, in percent. A low yield goes with high prices.
How much do the companies pay in dividends for their price?
Far more than usual
High · higher than in 9 of 10 months since 2006
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Last 10 yearsEach point is one month. The dot is today.
Returns
How did the industry do against the 500 largest US companies?
| Period | This industry | 500 largest | Difference |
|---|---|---|---|
| 1 month | −5.4% | −1.4% | 4.0 pts less |
| 1 year | −11.7% | +9.9% | 21.6 pts less |
| 5 years | −19.3% | +65.7% | 85.0 pts less |
Total returns with dividends, weighted by market value, to the close of October 2026. Past results do not show future results.
Largest companies
The three largest companies
- 01Annaly Capital Management, Inc.NLY31.7% of the industry
- 02AGNC Investment Corp.AGNC24.0% of the industry
- 03Starwood Property Trust, Inc.STWD9.6% of the industry
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- 04Dynex Capital, Inc.DX5.9% of the industry
- 05Blackstone Mortgage Trust, Inc.BXMT4.0% of the industry
- 06ARMOUR Residential REIT, Inc.ARR3.8% of the industry
- 07Ellington Financial Inc.EFC3.1% of the industry
- 08Ladder Capital CorpLADR2.4% of the industry
- 09Orchid Island Capital, Inc.ORC2.0% of the industry
- 10TPG Mortgage Investment Trust Inc 9.500% Senior Notes due 2029MITN1.7% of the industry
The typical companyThe median of the industry's US companies. We show a figure only when 5 or more companies have it.
The typical company in this industry
- Operating margin13 companies7282.0%
- Sales growth over 1 year13 companies86.0%
- Return on invested capital9 companies521.0%