Sector Alpha Week of 2026-08-04
20-quarter listed-company comparison

REIT - Mortgage Stocks

REIT - Mortgage: Ready Capital Corporation owns the largest revenue base; Dynex Capital, Inc. has the fastest current growth.

01 · the industry itself · before any single company

How has REIT - Mortgage moved against S&P 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this industry is 56% behind S&P 500. Earnings across its companies fell 19% on average over the last four reported quarters.

ASLEEP · 1y −31.5%~Price down, no fundamental support0 of 30 companies ahead of S&P 500 by 5% or more over three months3 are 20% or more behind over a year while earnings grew 20% or more

RS — · 7/30 >200d (−2) · 0/30 lead (−2) · EPS 13/30↑

20020262025202420232022 117348 TRAILING 12-MONTH EPS · 100 AT THE START0100Mar 22Sep 22Mar 23Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Mar 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 21 reportingJun 2022 · trailing 12-month earnings per share at 95, against 100 at the start · no comparable year yet · 21 reportingSep 2022 · trailing 12-month earnings per share at 88, against 100 at the start · no comparable year yet · 20 reportingDec 2022 · trailing 12-month earnings per share at 53, against 100 at the start · no comparable year yet · 23 reportingMar 2023 · trailing 12-month earnings per share at 13, against 100 at the start · down 94.8% on a year ago · 22 reportingJun 2023 · trailing 12-month earnings per share at 9, against 100 at the start · down 80.5% on a year ago · 22 reportingSep 2023 · trailing 12-month earnings per share at 15, against 100 at the start · down 93.4% on a year ago · 22 reportingDec 2023 · trailing 12-month earnings per share at 30, against 100 at the start · down 71.0% on a year ago · 22 reportingMar 2024 · trailing 12-month earnings per share at 27, against 100 at the start · down 35.0% on a year ago · 22 reportingJun 2024 · trailing 12-month earnings per share at 9, against 100 at the start · down 37.7% on a year ago · 22 reportingSep 2024 · trailing 12-month earnings per share at 37, against 100 at the start · down 9.3% on a year ago · 22 reportingDec 2024 · trailing 12-month earnings per share at 51, against 100 at the start · down 15.6% on a year ago · 22 reportingMar 2025 · trailing 12-month earnings per share at 37, against 100 at the start · down 34.2% on a year ago · 22 reportingJun 2025 · trailing 12-month earnings per share at 36, against 100 at the start · down 17.0% on a year ago · 22 reportingSep 2025 · trailing 12-month earnings per share at 40, against 100 at the start · down 37.9% on a year ago · 22 reportingDec 2025 · trailing 12-month earnings per share at 43, against 100 at the start · down 10.8% on a year ago · 22 reportingMar 2026 · trailing 12-month earnings per share at 27, against 100 at the start · down 10.0% on a year ago · 22 reportingNot reported yet — earnings trail price by a quarter or two27 · Mar 26No earnings on file this far back — the price series reaches further than the filings do
20020262025202420232022 117348 TRAILING 12-MONTH EPS · 100 AT THE START0100Mar 22Mar 23Mar 24Mar 25Mar 26Mar 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 21 reportingJun 2022 · trailing 12-month earnings per share at 95, against 100 at the start · no comparable year yet · 21 reportingSep 2022 · trailing 12-month earnings per share at 88, against 100 at the start · no comparable year yet · 20 reportingDec 2022 · trailing 12-month earnings per share at 53, against 100 at the start · no comparable year yet · 23 reportingMar 2023 · trailing 12-month earnings per share at 13, against 100 at the start · down 94.8% on a year ago · 22 reportingJun 2023 · trailing 12-month earnings per share at 9, against 100 at the start · down 80.5% on a year ago · 22 reportingSep 2023 · trailing 12-month earnings per share at 15, against 100 at the start · down 93.4% on a year ago · 22 reportingDec 2023 · trailing 12-month earnings per share at 30, against 100 at the start · down 71.0% on a year ago · 22 reportingMar 2024 · trailing 12-month earnings per share at 27, against 100 at the start · down 35.0% on a year ago · 22 reportingJun 2024 · trailing 12-month earnings per share at 9, against 100 at the start · down 37.7% on a year ago · 22 reportingSep 2024 · trailing 12-month earnings per share at 37, against 100 at the start · down 9.3% on a year ago · 22 reportingDec 2024 · trailing 12-month earnings per share at 51, against 100 at the start · down 15.6% on a year ago · 22 reportingMar 2025 · trailing 12-month earnings per share at 37, against 100 at the start · down 34.2% on a year ago · 22 reportingJun 2025 · trailing 12-month earnings per share at 36, against 100 at the start · down 17.0% on a year ago · 22 reportingSep 2025 · trailing 12-month earnings per share at 40, against 100 at the start · down 37.9% on a year ago · 22 reportingDec 2025 · trailing 12-month earnings per share at 43, against 100 at the start · down 10.8% on a year ago · 22 reportingMar 2026 · trailing 12-month earnings per share at 27, against 100 at the start · down 10.0% on a year ago · 22 reportingNot reported yet — earnings trail price by a quarter or two27No earnings on file this far back — the price series reaches further than the filings do
REIT - Mortgage, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 30 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

02 · sector relative strength, before individual stocks

Is REIT - Mortgage outperforming S&P 500?

REIT - Mortgage has underperformed S&P 500 by 26.3% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 13.2%. 2 of 29 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Adamas Trust, Inc. is the strongest against the sector itself at +30.5%.

-13.2%Sector vs S&P 500 · 13 weeks
-26.3%Sector vs S&P 500 · 52 weeks
2/29Stocks leading S&P 500
15/29Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

REIT - Mortgage has underperformed S&P 500 by 26.3% over 52 weeks and 13.2% over 13 weeks. 2 of 29 covered companies beat the S&P 500 on Mansfield relative strength, while 15 of 29 beat the sector itself. Ready Capital Corporation leads with income of $1,057 million, based on 13 of 29 comparable companies through Mar 2026.

Companies
29
complete canonical membership
Combined market value
$65.6B
Annaly Capital Management, Inc.
Revenue growing
4/13
positive TTM year-on-year growth
Beating S&P 500
2/29
positive Mansfield relative strength
Comparing 5 of 29
03 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
NexPoint Real Estate Finance, Inc. has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 55.7% evidence confidence.
Two Harbors Investment Corp. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. Financial companies use P/BV÷ROE and asset quality; PEG, industrial OPM and ROCE are excluded. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1NexPoint Real Estate Finance, Inc.NREF 62.5/100Thin evidence · provisional56% evidence FADING 24.1/35 Income 41.8% · PAT 57.9% 55% evidence 13.1/25 ROA — · ROE 3.1% · GNPA — 34% evidence 8.6/20 P/BV 0.65× · P/BV÷ROE 0.21 70% evidence 16.7/20 RS sector 27.5% · RS bench 5% · 1Y 20.6%5 of 12 weeks ahead 70% evidence
Exact sum: 24.1 + 13.1 + 8.6 + 16.7 = 62.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
2Ellington Financial Inc.EFC 60.6/100Thin evidence · provisional56% evidence ASLEEP 24.8/35 Income 39.9% · PAT 43.1% 55% evidence 13.9/25 ROA — · ROE 6% · GNPA — 34% evidence 8.6/20 P/BV 0.77× · P/BV÷ROE 0.13 70% evidence 13.3/20 RS sector 9.6% · RS bench -10.1% · 1Y 2.5%0 of 12 weeks ahead 70% evidence
Exact sum: 24.8 + 13.9 + 8.6 + 13.3 = 60.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
3Starwood Property Trust, Inc.STWD 45.6/100Mixed-negative evidence62% evidence BASING 20.2/35 Income 12.3% · PAT 13.9% 55% evidence 12.8/25 ROA — · ROE 0.8% · GNPA — 34% evidence 3.3/20 P/BV 0.96× · P/BV÷ROE 1.2 70% evidence 9.3/20 RS sector -1.5% · RS bench -19.5% · 1Y -18.2%0 of 12 weeks ahead 100% evidence
Exact sum: 20.2 + 12.8 + 3.3 + 9.3 = 45.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Apollo Commercial Real Estate Finance, Inc.ARI 43.1/100Thin evidence · provisional56% evidence ASLEEP 21.5/35 Income -8.3% · PAT 100% 55% evidence 12.8/25 ROA — · ROE 1.4% · GNPA — 34% evidence 5.0/20 P/BV 0.8× · P/BV÷ROE 0.57 70% evidence 3.8/20 RS sector -26.8% · RS bench -40.1% · 1Y -32.2%0 of 12 weeks ahead 70% evidence
Exact sum: 21.5 + 12.8 + 5 + 3.8 = 43.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5Franklin BSP Realty Trust, Inc.FBRT 42.0/100Thin evidence · provisional54% evidence ASLEEP 20.4/35 Income — · PAT — 26% evidence 11.0/25 ROA -0.6% · ROE 1.1% · GNPA — 68% evidence 6.0/20 P/BV 0.55× · P/BV÷ROE 0.5 70% evidence 4.6/20 RS sector -12.2% · RS bench -28.5% · 1Y -29.2%0 of 12 weeks ahead 70% evidence
Exact sum: 20.4 + 11 + 6 + 4.6 = 42 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6Ready Capital CorporationRC 39.2/100Thin evidence · provisional56% evidence ASLEEP 12.5/35 Income -25.8% · PAT -38.6% 55% evidence 14.2/25 ROA — · ROE 5.9% · GNPA — 34% evidence 8.6/20 P/BV 0.2× · P/BV÷ROE 0.03 70% evidence 3.9/20 RS sector -25.8% · RS bench -40.5% · 1Y -60.9%0 of 12 weeks ahead 70% evidence
Exact sum: 12.5 + 14.2 + 8.6 + 3.9 = 39.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Chicago Atlantic Real Estate Finance, Inc.REFI 39.1/100Thin evidence · provisional56% evidence ASLEEP 13.8/35 Income -12.5% · PAT -18.4% 55% evidence 13.6/25 ROA — · ROE 1.6% · GNPA — 34% evidence 6.4/20 P/BV 0.79× · P/BV÷ROE 0.49 70% evidence 5.3/20 RS sector -10.2% · RS bench -26.7% · 1Y -27.1%0 of 12 weeks ahead 70% evidence
Exact sum: 13.8 + 13.6 + 6.4 + 5.3 = 39.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
8Annaly Capital Management, Inc.NLY 56.9/100Thin evidence · provisional46% evidence BASING 19.1/35 Income — · PAT — 10% evidence 13.1/25 ROA — · ROE 5.4% · GNPA — 34% evidence 8.0/20 P/BV 0.97× · P/BV÷ROE 0.18 70% evidence 16.7/20 RS sector 12.1% · RS bench -7.9% · 1Y 10.4%0 of 12 weeks ahead 100% evidence
Exact sum: 19.1 + 13.1 + 8 + 16.7 = 56.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
9Adamas Trust, Inc.ADAM 56.7/100Thin evidence · provisional40% evidence FADING 18.8/35 Income — · PAT — 10% evidence 12.3/25 ROA — · ROE 3.7% · GNPA — 34% evidence 8.6/20 P/BV 0.57× · P/BV÷ROE 0.15 70% evidence 17.0/20 RS sector 30.5% · RS bench 7.9% · 1Y 43.2%7 of 12 weeks ahead 70% evidence
Exact sum: 18.8 + 12.3 + 8.6 + 17 = 56.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
10Dynex Capital, Inc.DX 50.7/100Thin evidence · provisional41% evidence BASING 19.7/35 Income 100% · PAT 100% 29% evidence 9.6/25 ROA — · ROE -3.9% · GNPA — 34% evidence 9.1/20 P/BV 0.97× · P/BV÷ROE — 10% evidence 12.3/20 RS sector 5% · RS bench -13.8% · 1Y 2.7%0 of 12 weeks ahead 100% evidence
Exact sum: 19.7 + 9.6 + 9.1 + 12.3 = 50.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11Two Harbors Investment Corp.TWO 50.3/100Thin evidence · provisional28% evidence ASLEEP 16.0/35 Income — · PAT — 10% evidence 9.3/25 ROA — · ROE -3.4% · GNPA — 34% evidence 9.8/20 P/BV 0.75× · P/BV÷ROE — 10% evidence 15.2/20 RS sector 19.1% · RS bench -1.6% · 1Y 22.5%5 of 12 weeks ahead 70% evidence
Exact sum: 16 + 9.3 + 9.8 + 15.2 = 50.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
12Rithm Capital Corp.RITM 49.6/100Thin evidence · provisional46% evidence BASING 16.5/35 Income — · PAT — 10% evidence 12.5/25 ROA — · ROE 0.8% · GNPA — 34% evidence 4.7/20 P/BV 0.62× · P/BV÷ROE 0.77 70% evidence 15.9/20 RS sector 6.9% · RS bench -12.9% · 1Y -16.5%0 of 12 weeks ahead 100% evidence
Exact sum: 16.5 + 12.5 + 4.7 + 15.9 = 49.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13Ares Commercial Real Estate CorporationACRE 47.6/100Thin evidence · provisional49% evidence BASING 15.1/35 Income -20.9% · PAT — 45% evidence 11.3/25 ROA 0.1% · ROE -1.9% · GNPA — 68% evidence 9.8/20 P/BV 0.54× · P/BV÷ROE — 10% evidence 11.4/20 RS sector 4% · RS bench -14.7% · 1Y 6.9%0 of 12 weeks ahead 70% evidence
Exact sum: 15.1 + 11.3 + 9.8 + 11.4 = 47.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
14MFA Financial, Inc.MFA 47.2/100Thin evidence · provisional44% evidence BASING 15.3/35 Income -3% · PAT -2.2% 55% evidence 11.4/25 ROA — · ROE -0.1% · GNPA — 34% evidence 9.8/20 P/BV 0.55× · P/BV÷ROE — 10% evidence 10.7/20 RS sector 3% · RS bench -15.5% · 1Y -2.4%0 of 12 weeks ahead 70% evidence
Exact sum: 15.3 + 11.4 + 9.8 + 10.7 = 47.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
15AGNC Investment Corp.AGNC 46.8/100Thin evidence · provisional50% evidence ASLEEP 14.9/35 Income — · PAT — 30% evidence 8.4/25 ROA -0.5% · ROE -4.8% · GNPA — 68% evidence 9.0/20 P/BV 1× · P/BV÷ROE — 10% evidence 14.5/20 RS sector 10.1% · RS bench -9.5% · 1Y 12.6%0 of 12 weeks ahead 100% evidence
Exact sum: 14.9 + 8.4 + 9 + 14.5 = 46.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
16TPG RE Finance Trust, Inc.TRTX 45.6/100Thin evidence · provisional40% evidence ASLEEP 17.6/35 Income — · PAT — 10% evidence 12.7/25 ROA — · ROE 1.2% · GNPA — 34% evidence 5.5/20 P/BV 0.62× · P/BV÷ROE 0.51 70% evidence 9.8/20 RS sector 1.1% · RS bench -17.2% · 1Y -10%0 of 12 weeks ahead 70% evidence
Exact sum: 17.6 + 12.7 + 5.5 + 9.8 = 45.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
17Redwood Trust, Inc.RWT 45.6/100Thin evidence · provisional28% evidence BASING 19.2/35 Income — · PAT — 10% evidence 11.0/25 ROA — · ROE -0.1% · GNPA — 34% evidence 9.8/20 P/BV 0.73× · P/BV÷ROE — 10% evidence 5.6/20 RS sector -7.7% · RS bench -24.6% · 1Y -18.3%0 of 12 weeks ahead 70% evidence
Exact sum: 19.2 + 11 + 9.8 + 5.6 = 45.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18Ladder Capital CorpLADR 43.5/100Thin evidence · provisional40% evidence BASING 17.9/35 Income — · PAT — 10% evidence 13.0/25 ROA — · ROE 1% · GNPA — 34% evidence 3.8/20 P/BV 0.88× · P/BV÷ROE 0.88 70% evidence 8.8/20 RS sector -0.1% · RS bench -18.3% · 1Y -13.2%0 of 12 weeks ahead 70% evidence
Exact sum: 17.9 + 13 + 3.8 + 8.8 = 43.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
19BrightSpire Capital, Inc.BRSP 43.4/100Thin evidence · provisional48% evidence ASLEEP 19.6/35 Income — · PAT — 26% evidence 10.2/25 ROA -0.4% · ROE -2.2% · GNPA — 68% evidence 9.6/20 P/BV 0.8× · P/BV÷ROE — 10% evidence 4.0/20 RS sector -3.3% · RS bench -20.7% · 1Y -6.6%0 of 12 weeks ahead 100% evidence
Exact sum: 19.6 + 10.2 + 9.6 + 4 = 43.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
20TPG Mortgage Investment Trust, Inc.MITT 42.8/100Thin evidence · provisional44% evidence ASLEEP 13.3/35 Income -6.1% · PAT -23.4% 55% evidence 11.4/25 ROA — · ROE -0.6% · GNPA — 34% evidence 9.8/20 P/BV 0.43× · P/BV÷ROE — 10% evidence 8.3/20 RS sector -0.6% · RS bench -18.5% · 1Y -3.5%0 of 12 weeks ahead 70% evidence
Exact sum: 13.3 + 11.4 + 9.8 + 8.3 = 42.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
21Angel Oak Mortgage REIT, Inc.AOMR 42.6/100Thin evidence · provisional44% evidence BASING 9.3/35 Income -36.8% · PAT -56.8% 55% evidence 9.8/25 ROA — · ROE -2.9% · GNPA — 34% evidence 9.6/20 P/BV 0.8× · P/BV÷ROE — 10% evidence 13.9/20 RS sector 11.9% · RS bench -8.3% · 1Y -0.1%0 of 12 weeks ahead 70% evidence
Exact sum: 9.3 + 9.8 + 9.6 + 13.9 = 42.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22Chimera Investment CorporationCIM 42.5/100Thin evidence · provisional44% evidence BASING 9.5/35 Income -35.7% · PAT -98.9% 55% evidence 11.0/25 ROA — · ROE -0.8% · GNPA — 34% evidence 9.8/20 P/BV 0.43× · P/BV÷ROE — 10% evidence 12.2/20 RS sector 5% · RS bench -13.8% · 1Y -5.7%0 of 12 weeks ahead 70% evidence
Exact sum: 9.5 + 11 + 9.8 + 12.2 = 42.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
23Arbor Realty Trust, Inc.ABR 42.0/100Thin evidence · provisional28% evidence BASING 17.0/35 Income — · PAT — 10% evidence 11.9/25 ROA — · ROE -1% · GNPA — 34% evidence 9.8/20 P/BV 0.37× · P/BV÷ROE — 10% evidence 3.3/20 RS sector -29.9% · RS bench -43.6% · 1Y -55.8%0 of 12 weeks ahead 70% evidence
Exact sum: 17 + 11.9 + 9.8 + 3.3 = 42 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
24ARMOUR Residential REIT, Inc.ARR 40.6/100Thin evidence · provisional48% evidence BASING 14.0/35 Income — · PAT — 26% evidence 5.1/25 ROA -1% · ROE -9.5% · GNPA — 68% evidence 9.5/20 P/BV 0.84× · P/BV÷ROE — 10% evidence 12.0/20 RS sector 6.6% · RS bench -12.4% · 1Y 5.2%0 of 12 weeks ahead 100% evidence
Exact sum: 14 + 5.1 + 9.5 + 12 = 40.6 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
25PennyMac Mortgage Investment TrustPMT 40.4/100Thin evidence · provisional28% evidence BASING 16.3/35 Income — · PAT — 10% evidence 9.4/25 ROA — · ROE -4.7% · GNPA — 34% evidence 9.8/20 P/BV 0.53× · P/BV÷ROE — 10% evidence 4.9/20 RS sector -11.2% · RS bench -27.6% · 1Y -20.4%0 of 12 weeks ahead 70% evidence
Exact sum: 16.3 + 9.4 + 9.8 + 4.9 = 40.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
26Blackstone Mortgage Trust, Inc.BXMT 37.7/100Thin evidence · provisional34% evidence ASLEEP 16.8/35 Income — · PAT — 10% evidence 10.2/25 ROA — · ROE -2.4% · GNPA — 34% evidence 9.4/20 P/BV 0.88× · P/BV÷ROE — 10% evidence 1.3/20 RS sector -15.6% · RS bench -31% · 1Y -23.6%0 of 12 weeks ahead 100% evidence
Exact sum: 16.8 + 10.2 + 9.4 + 1.3 = 37.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
27Claros Mortgage Trust, Inc.CMTG 37.1/100Thin evidence · provisional35% evidence ASLEEP 15.0/35 Income -677.5% · PAT — 29% evidence 9.3/25 ROA — · ROE -3.2% · GNPA — 34% evidence 9.8/20 P/BV 0.22× · P/BV÷ROE — 10% evidence 3.0/20 RS sector -32.4% · RS bench -45.2% · 1Y -48.4%1 of 12 weeks ahead 70% evidence
Exact sum: 15 + 9.3 + 9.8 + 3 = 37.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
28Orchid Island Capital, Inc.ORC 36.7/100Thin evidence · provisional42% evidence BASING 14.1/35 Income — · PAT — 26% evidence 6.4/25 ROA -0.7% · ROE -5.8% · GNPA — 68% evidence 9.1/20 P/BV 0.97× · P/BV÷ROE — 10% evidence 7.1/20 RS sector -2.3% · RS bench -20% · 1Y -10.6%0 of 12 weeks ahead 70% evidence
Exact sum: 14.1 + 6.4 + 9.1 + 7.1 = 36.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
29Invesco Mortgage Capital Inc.IVR 36.4/100Thin evidence · provisional42% evidence BASING 12.9/35 Income — · PAT — 26% evidence 4.4/25 ROA -1.2% · ROE -9.5% · GNPA — 68% evidence 9.8/20 P/BV 0.74× · P/BV÷ROE — 10% evidence 9.3/20 RS sector 0.7% · RS bench -17.4% · 1Y -2.8%0 of 12 weeks ahead 70% evidence
Exact sum: 12.9 + 4.4 + 9.8 + 9.3 = 36.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
Showing 10 of 29 companies
04 · what price has already done

Market action

Adamas Trust, Inc. has the strongest one-year price move in REIT - Mortgage at +43.2%. It also leads on Mansfield relative strength against the S&P 500 at +7.9%. 2 of 29 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04.

Price and relative strength

Every company, the sector's own index and S&P 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

05 · compare level, then change

Income Scale & Growth Durability

Ready Capital Corporation has the highest Income among the 29 REIT - Mortgage companies compared here, at $1,057 million. Starwood Property Trust, Inc. is next at $904 million. Dynex Capital, Inc. has the highest Income growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Ready Capital Corporation is the scale leader at $1,057 million, 16.9% ahead of Starwood Property Trust, Inc.. Dynex Capital, Inc.'s growth is stored at the ≥100% scoring cap; the uncapped TTM change is 181.5% from a $304 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderReady Capital Corporation · $1,057 million
Gap16.9% versus #2 · Starwood Property Trust, Inc.
Persistence1/8 recent comparable periods
Coverage13/29 companies · 530 observations

Investor read: Ready Capital Corporation is the scale benchmark; Dynex Capital, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Ready Capital Corporation's growth falls below Dynex Capital, Inc.'s for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.
Income · company comparison
13/29 level · 13/29 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyIncomeIncome growthReported
Rithm Capital Corp. RITM$1.4B41%Jun 2026
Annaly Capital Management, Inc. NLY$342M83%Jun 2026
PennyMac Mortgage Investment Trust PMT$233M85%Jun 2026
Two Harbors Investment Corp. TWO$225M45%Jun 2026
Starwood Property Trust, Inc. STWD$206M-13%Mar 2026
Ready Capital Corporation RC$201M-5.2%Mar 2026
Ellington Financial Inc. EFC$189M108%Mar 2026
Arbor Realty Trust, Inc. ABR$109M-8.4%Jun 2026
Blackstone Mortgage Trust, Inc. BXMT$104M35%Jun 2026
Franklin BSP Realty Trust, Inc. FBRT$74M35%Jun 2026
ARMOUR Residential REIT, Inc. ARR$71M97%Jun 2026
Redwood Trust, Inc. RWT$64M-14%Jun 2026
Apollo Commercial Real Estate Finance, Inc. ARI$59M-11%Mar 2026
Ladder Capital Corp LADR$52M2.0%Jun 2026
BrightSpire Capital, Inc. BRSP$52M16%Jun 2026
Adamas Trust, Inc. ADAM$46M48%Jun 2026
MFA Financial, Inc. MFA$44M-46%Mar 2026
TPG RE Finance Trust, Inc. TRTX$37M0.0%Jun 2026
Chimera Investment Corporation CIM$35M-83%Mar 2026
NexPoint Real Estate Finance, Inc. NREF$33M-2.9%Mar 2026
Ares Commercial Real Estate Corporation ACRE$13M-13%Mar 2026
Chicago Atlantic Real Estate Finance, Inc. REFI$9M-36%Mar 2026
TPG Mortgage Investment Trust, Inc. MITT$6M-73%Mar 2026
Claros Mortgage Trust, Inc. CMTG$-2M-200%Mar 2026
Angel Oak Mortgage REIT, Inc. AOMR$-2M-108%Mar 2026
Orchid Island Capital, Inc. ORC$-13M-162%Jun 2026
Invesco Mortgage Capital Inc. IVR$-15M-163%Jun 2026
Dynex Capital, Inc. DX$-59M-756%Mar 2026
Full 20-quarter history · every available company

Income · reported quarter history

Showing the 12 largest of 28 companies with a series here. The remaining 16 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Annaly Capital Management, Inc. · NLY

$559M
$466M
$2.1B
$896M
$-240M
$-844M
$-787M
$218M
$-517M
$-351M
$503M
$48M
$120M
$527M
$187M
$111M
$886M
$1.1B
$342M

Arbor Realty Trust, Inc. · ABR

$152M
$198M
$149M
$148M
$136M
$177M
$170M
$158M
$157M
$171M
$143M
$126M
$140M
$142M
$119M
$108M
$130M
$128M
$109M

ARMOUR Residential REIT, Inc. · ARR

$20M
$20M
$31M
$35M
$30M
$12M
$12M
$6M
$4M
$6M
$5M
$7M
$2M
$13M
$36M
$33M
$39M
$50M
$71M

Blackstone Mortgage Trust, Inc. · BXMT

$120M
$184M
$131M
$134M
$144M
$2M
$164M
$150M
$267M
$-230M
$-90M
$-26M
$244M
$114M
$77M
$88M
$132M
$159M
$104M

Chimera Investment Corporation · CIM

$363M
$47M
$-232M
$-121M
$-164M
$84M
$95M
$73M
$29M
$67M
$155M
$85M
$160M
$-102M
$210M
$72M
$43M
$77M
$35M

Dynex Capital, Inc. · DX

$21M
$21M
$125M
$37M
$-36M
$52M
$-34M
$62M
$-34M
$33M
$51M
$-1M
$40M
$60M
$9M
$-1M
$162M
$202M
$-59M

Ellington Financial Inc. · EFC

$38M
$56M
$6M
$-56M
$-15M
$83M
$53M
$53M
$59M
$78M
$103M
$74M
$83M
$91M
$110M
$96M
$96M
$189M

Ladder Capital Corp · LADR

$50M
$62M
$74M
$85M
$70M
$117M
$70M
$67M
$72M
$55M
$63M
$72M
$68M
$69M
$51M
$56M
$57M
$50M
$52M

Orchid Island Capital, Inc. · ORC

$30M
$0M
$-144M
$-56M
$-80M
$51M
$9M
$15M
$-75M
$-25M
$24M
$-1M
$22M
$10M
$21M
$-29M
$78M
$109M
$-13M

Rithm Capital Corp. · RITM

$953M
$1.0B
$1.7B
$1.3B
$911M
$762M
$825M
$1.1B
$1.1B
$692M
$1.3B
$1.2B
$999M
$2.1B
$977M
$1.2B
$1.1B
$1.3B
$1.4B

Starwood Property Trust, Inc. · STWD

$265M
$277M
$505M
$385M
$274M
$265M
$158M
$324M
$141M
$216M
$281M
$200M
$181M
$187M
$237M
$204M
$220M
$274M
$206M

Two Harbors Investment Corp. · TWO

$83M
$14M
$353M
$-26M
$319M
$109M
$163M
$388M
$516M
$115M
$422M
$303M
$-43M
$293M
$155M
$174M
$255M
$269M
$225M

Income growth · reported quarter history

Showing the 12 largest of 28 companies with a series here. The remaining 16 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Annaly Capital Management, Inc. · NLY

-143%
-281%
-138%
-76%
-78%
-63%
131%
638%
101%
83%

Arbor Realty Trust, Inc. · ABR

17%
-11%
-11%
14%
6.8%
15%
-3.4%
-16%
-20%
-11%
-17%
-17%
-14%
-7.1%
-9.9%
-8.4%

ARMOUR Residential REIT, Inc. · ARR

106%
50%
-40%
-61%
-83%
-87%
-50%
-58%
17%
-50%
117%
620%
371%
1,850%
285%
97%

Blackstone Mortgage Trust, Inc. · BXMT

113%
20%
-99%
25%
12%
85%
-11,600%
-155%
-117%
-8.6%
-46%
39%
35%

Chimera Investment Corporation · CIM

-162%
-145%
79%
-20%
63%
16%
452%
-252%
35%
-15%
-73%
-83%

Dynex Capital, Inc. · DX

-271%
148%
-127%
68%
-37%
-102%
82%
-82%
305%
237%
-756%

Ellington Financial Inc. · EFC

-195%
-127%
1,283%
-6.0%
94%
40%
41%
17%
6.8%
30%
16%
108%

Ladder Capital Corp · LADR

107%
40%
89%
-5.4%
-21%
2.9%
-53%
-10%
7.5%
-5.6%
25%
-19%
-22%
-16%
-28%
2.0%

Orchid Island Capital, Inc. · ORC

-367%
-149%
167%
-107%
-13%
255%
990%
-162%

Rithm Capital Corp. · RITM

209%
-4.4%
-26%
-52%
-16%
25%
-9.2%
53%
4.1%
-12%
203%
-23%
5.4%
11%
-38%
41%

Starwood Property Trust, Inc. · STWD

52%
3.4%
-4.3%
-69%
-16%
-49%
-18%
78%
-38%
28%
-13%
-16%
2.0%
22%
47%
-13%

Two Harbors Investment Corp. · TWO

284%
679%
-54%
62%
5.5%
159%
-22%
-108%
155%
-63%
-43%
-8.2%
45%
06 · compare level, then change

Profit Scale & Acceleration

Ready Capital Corporation has the highest Net profit among the 29 REIT - Mortgage companies compared here, at $631 million. Starwood Property Trust, Inc. is next at $384 million. Apollo Commercial Real Estate Finance, Inc. has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Ready Capital Corporation leads with $631 million of TTM profit, 64.3% above Starwood Property Trust, Inc.. Apollo Commercial Real Estate Finance, Inc. shows ≥100% on the scoring scale (1054.5% uncapped) growth from a $127 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderReady Capital Corporation · $631 million
Gap64.3% versus #2 · Starwood Property Trust, Inc.
Persistence1/8 recent comparable periods
Coverage13/29 companies · 549 observations

Investor read: Ready Capital Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.
Net profit · company comparison
13/29 level · 10/29 change
All-company data · latest reported quarter
CompanyNet profitProfit growthReported
Annaly Capital Management, Inc. NLY$291M124%Jun 2026
PennyMac Mortgage Investment Trust PMT$176M93%Jun 2026
Rithm Capital Corp. RITM$109M35%Jun 2026
Ellington Financial Inc. EFC$107M174%Mar 2026
Ready Capital Corporation RC$102M-24%Mar 2026
Adamas Trust, Inc. ADAM$87M135%Jun 2026
Starwood Property Trust, Inc. STWD$57M-51%Mar 2026
Two Harbors Investment Corp. TWO$32M-96%Jun 2026
Apollo Commercial Real Estate Finance, Inc. ARI$26M0.0%Mar 2026
NexPoint Real Estate Finance, Inc. NREF$23M-12%Mar 2026
TPG RE Finance Trust, Inc. TRTX$19M36%Jun 2026
Franklin BSP Realty Trust, Inc. FBRT$12M-50%Jun 2026
Arbor Realty Trust, Inc. ABR$11M-74%Jun 2026
Chicago Atlantic Real Estate Finance, Inc. REFI$5M-50%Mar 2026
Ladder Capital Corp LADR$3M-75%Jun 2026
BrightSpire Capital, Inc. BRSP$3M-25%Jun 2026
MFA Financial, Inc. MFA$-1M-102%Mar 2026
TPG Mortgage Investment Trust, Inc. MITT$-3M-125%Mar 2026
Blackstone Mortgage Trust, Inc. BXMT$-6M8.1%Jun 2026
Redwood Trust, Inc. RWT$-6M-138%Jun 2026
Angel Oak Mortgage REIT, Inc. AOMR$-7M-133%Mar 2026
Ares Commercial Real Estate Corporation ACRE$-10M-211%Mar 2026
Orchid Island Capital, Inc. ORC$-20M-218%Jun 2026
Invesco Mortgage Capital Inc. IVR$-20M-200%Jun 2026
Chimera Investment Corporation CIM$-44M-126%Mar 2026
Claros Mortgage Trust, Inc. CMTG$-54M-397%Mar 2026
ARMOUR Residential REIT, Inc. ARR$-55M-304%Jun 2026
Dynex Capital, Inc. DX$-80M263%Mar 2026
AGNC Investment Corp. AGNC$-192M-1,380%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

$187M
$-52M
$-676M
$-459M
$-692M
$532M
$-181M
$255M
$-423M
$381M
$412M
$-80M
$313M
$86M
$15M
$-178M
$764M
$908M
$-192M

Annaly Capital Management, Inc. · NLY

$522M
$418M
$2.0B
$863M
$-274M
$-887M
$-839M
$161M
$-569M
$-391M
$465M
$-9M
$82M
$473M
$130M
$60M
$843M
$1.0B
$291M

ARMOUR Residential REIT, Inc. · ARR

$34M
$-21M
$-66M
$-59M
$-144M
$39M
$-31M
$43M
$-179M
$100M
$15M
$-48M
$66M
$-46M
$27M
$-76M
$159M
$212M
$-55M

Blackstone Mortgage Trust, Inc. · BXMT

$84M
$125M
$100M
$94M
$104M
$-47M
$119M
$102M
$31M
$-2M
$-123M
$-60M
$-56M
$37M
$0M
$7M
$63M
$40M
$-6M

Chimera Investment Corporation · CIM

$331M
$18M
$-263M
$-161M
$-186M
$97M
$57M
$36M
$2M
$31M
$129M
$57M
$136M
$-5M
$167M
$35M
$-1M
$14M
$-44M

Dynex Capital, Inc. · DX

$14M
$14M
$117M
$29M
$-47M
$43M
$-42M
$54M
$-43M
$24M
$40M
$-8M
$31M
$51M
$-3M
$-14M
$150M
$185M
$-80M

Ellington Financial Inc. · EFC

$24M
$39M
$-6M
$-61M
$-30M
$45M
$11M
$13M
$19M
$34M
$60M
$23M
$31M
$39M
$51M
$38M
$23M
$107M

Ladder Capital Corp · LADR

$19M
$27M
$19M
$43M
$29M
$74M
$22M
$28M
$31M
$19M
$16M
$32M
$28M
$31M
$12M
$17M
$19M
$16M
$3M

Orchid Island Capital, Inc. · ORC

$26M
$-4M
$-149M
$-60M
$-85M
$47M
$4M
$10M
$-80M
$-29M
$20M
$-5M
$17M
$6M
$17M
$-34M
$72M
$103M
$-20M

Rithm Capital Corp. · RITM

$171M
$188M
$690M
$33M
$154M
$106M
$90M
$387M
$221M
$-67M
$287M
$239M
$124M
$292M
$81M
$318M
$229M
$91M
$109M

Starwood Property Trust, Inc. · STWD

$140M
$103M
$384M
$282M
$224M
$169M
$60M
$222M
$51M
$85M
$160M
$78M
$72M
$71M
$116M
$135M
$80M
$112M
$57M

Two Harbors Investment Corp. · TWO

$66M
$-1M
$-285M
$-72M
$278M
$-270M
$-177M
$197M
$-306M
$-433M
$-204M
$-56M
$238M
$277M
$-79M
$259M
$128M
$12M
$32M

Profit growth · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

-470%
-28%
-131%
-77%
-96%
144%
956%
-1,380%

Annaly Capital Management, Inc. · NLY

-152%
-312%
-141%
-81%
-106%
-72%
928%
115%
124%

ARMOUR Residential REIT, Inc. · ARR

-524%
156%
-212%
-146%
80%
141%
-304%

Blackstone Mortgage Trust, Inc. · BXMT

-29%
24%
-138%
19%
8.5%
-70%
-203%
-159%
-281%
8.1%

Chimera Investment Corporation · CIM

-199%
-156%
439%
-68%
126%
58%
6,700%
-116%
29%
-39%
-101%
-126%

Dynex Capital, Inc. · DX

-436%
207%
-136%
86%
-44%
-115%
113%
-108%
384%
263%

Ellington Financial Inc. · EFC

-269%
-177%
-24%
445%
77%
63%
15%
-15%
65%
-26%
174%

Ladder Capital Corp · LADR

330%
53%
174%
16%
-35%
6.9%
-74%
-27%
14%
-9.7%
63%
-25%
-47%
-32%
-48%
-75%

Orchid Island Capital, Inc. · ORC

-427%
-162%
400%
-150%
-15%
324%
1,617%
-218%

Rithm Capital Corp. · RITM

-77%
-9.9%
-44%
-87%
1,073%
44%
-163%
219%
-38%
-44%
-72%
33%
85%
-69%
35%

Starwood Property Trust, Inc. · STWD

124%
60%
64%
-84%
-21%
-77%
-50%
167%
-65%
41%
-16%
-28%
73%
11%
58%
-51%

Two Harbors Investment Corp. · TWO

-161%
321%
-210%
-128%
-46%
-96%
07 · compare level, then change

Funding Base & Its Composition

No company in this REIT - Mortgage comparison reports a funding base figure this section can compare, so the Deposits rank is empty. On Borrowings, AGNC Investment Corp. is highest at $89,945 million, across 26 of 29 companies with a usable reading.

What the numbers say: There is not enough comparable evidence to name a reliable deposits leader.

LeaderNo comparable leader
GapNot enough peers
PersistenceNot enough history
Coverage0/29 companies · 0 observations

Investor read: The current leader sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.
Depositslargest deposit bases
Not enough comparable data
Borrowingslargest borrowings
1AGNC Investment Corp. AGNC$89.9B
Funding base · company comparison
0/29 level · 26/29 change
All-company data · latest reported quarter
CompanyDepositsBorrowingsReported
Annaly Capital Management, Inc. NLY$36.9BJun 2026
AGNC Investment Corp. AGNC$89.9BJun 2026
Starwood Property Trust, Inc. STWD$40.1BMar 2026
Rithm Capital Corp. RITM$22.2BJun 2026
Dynex Capital, Inc. DX$0MMar 2026
Blackstone Mortgage Trust, Inc. BXMT$15.8BJun 2026
Ellington Financial Inc. EFC$639MMar 2026
Two Harbors Investment Corp. TWO$111MJun 2026
Ladder Capital Corp LADR$4.0BJun 2026
Chimera Investment Corporation CIM$5.7BMar 2026
Arbor Realty Trust, Inc. ABR$5.2BJun 2026
MFA Financial, Inc. MFA$0MMar 2026
Apollo Commercial Real Estate Finance, Inc. ARI$1.7BMar 2026
Adamas Trust, Inc. ADAM$4.2BJun 2026
PennyMac Mortgage Investment Trust PMT$3.2BJun 2026
Franklin BSP Realty Trust, Inc. FBRT$4.7BJun 2026
BrightSpire Capital, Inc. BRSP$2.5BJun 2026
TPG RE Finance Trust, Inc. TRTX$3.5BJun 2026
Redwood Trust, Inc. RWT$27.5BJun 2026
NexPoint Real Estate Finance, Inc. NREF$4.0BMar 2026
Ready Capital Corporation RC$2.3BMar 2026
Ares Commercial Real Estate Corporation ACRE$1.3BMar 2026
Chicago Atlantic Real Estate Finance, Inc. REFI$49MMar 2026
Claros Mortgage Trust, Inc. CMTG$697MMar 2026
Angel Oak Mortgage REIT, Inc. AOMR$89MMar 2026
TPG Mortgage Investment Trust, Inc. MITT$6.8BMar 2026
Full 20-quarter history · every available company

No consistent historical series is available for deposits.

Borrowings · reported quarter history

Showing the 12 largest of 26 companies with a series here. The remaining 14 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

$46.8B
$47.6B
$45.5B
$43.5B
$41.6B
$36.5B
$48.8B
$42.2B
$52.3B
$50.9B
$50.1B
$57.1B
$66.1B
$61.0B
$66.3B
$69.3B
$74.3B
$85.3B
$88.1B
$89.9B

Annaly Capital Management, Inc. · NLY

$4.6B
$6.2B
$7.5B
$8.2B
$8.6B
$8.5B
$9.5B
$10.3B
$10.8B
$12.7B
$14.9B
$17.0B
$19.2B
$20.7B
$23.6B
$25.7B
$28.4B
$30.9B
$33.2B
$36.9B

Arbor Realty Trust, Inc. · ABR

$6.2B
$7.6B
$8.8B
$9.7B
$9.7B
$9.7B
$9.3B
$8.9B
$8.8B
$8.7B
$8.5B
$7.4B
$7.0B
$6.4B
$5.1B
$5.4B
$6.2B
$5.9B
$6.4B
$5.2B

Blackstone Mortgage Trust, Inc. · BXMT

$16.3B
$17.9B
$19.2B
$20.6B
$19.9B
$20.4B
$20.5B
$20.0B
$19.3B
$19.3B
$18.8B
$18.4B
$17.2B
$15.7B
$15.9B
$16.5B
$15.5B
$16.1B
$15.9B
$15.8B

Chimera Investment Corporation · CIM

$8.0B
$7.8B
$8.1B
$7.8B
$7.4B
$7.2B
$7.6B
$8.1B
$7.7B
$7.7B
$7.4B
$7.2B
$7.5B
$7.2B
$7.4B
$7.2B
$7.3B
$7.0B
$5.7B

Dynex Capital, Inc. · DX

$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M

Ellington Financial Inc. · EFC

$86M
$86M
$296M
$289M
$194M
$185M
$185M
$190M
$273M
$271M
$269M
$278M
$282M
$247M
$249M
$252M
$660M
$639M

Ladder Capital Corp · LADR

$3.8B
$4.2B
$4.3B
$4.2B
$4.2B
$4.2B
$4.1B
$4.0B
$3.8B
$3.8B
$3.7B
$3.4B
$3.6B
$3.1B
$2.8B
$2.8B
$3.0B
$3.5B
$4.0B
$4.0B

MFA Financial, Inc. · MFA

$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M
$0M

Rithm Capital Corp. · RITM

$8.8B
$9.2B
$9.8B
$9.9B
$10.2B
$10.6B
$10.3B
$10.9B
$10.5B
$14.2B
$14.3B
$14.7B
$14.2B
$15.9B
$15.5B
$15.3B
$15.7B
$21.6B
$21.2B
$22.2B

Starwood Property Trust, Inc. · STWD

$65.2B
$64.2B
$62.3B
$62.3B
$58.5B
$56.8B
$54.8B
$50.9B
$49.0B
$48.0B
$46.0B
$44.4B
$44.4B
$43.5B
$41.8B
$40.9B
$39.4B
$42.2B
$40.1B

Two Harbors Investment Corp. · TWO

$821M
$822M
$678M
$679M
$680M
$681M
$681M
$666M
$563M
$564M
$564M
$259M
$260M
$260M
$261M
$372M
$372M
$373M
$111M
$111M
08 · compare level, then change

Return On Assets

Ares Commercial Real Estate Corporation has the highest ROA among the 29 REIT - Mortgage companies compared here, at 0.1%. BrightSpire Capital, Inc. is next at -0.4%. Franklin BSP Realty Trust, Inc. has the highest ROA change at +0.3 percentage points, so level and change sit with different companies. Its ROA series carries 19 reported observations across the 20-quarter window.

What the numbers say: Ares Commercial Real Estate Corporation leads roa at 0.1%; Franklin BSP Realty Trust, Inc. leads roa change at +0.3 percentage points.

LeaderAres Commercial Real Estate Corporation · 0.1%
Gap125% versus #2 · BrightSpire Capital, Inc.
Persistence0/8 recent comparable periods
Coverage7/29 companies · 135 observations

Investor read: Ares Commercial Real Estate Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.
ROAhighest
3AGNC Investment Corp. AGNC-0.5%
ROA changefastest improvers
4AGNC Investment Corp. AGNC−0.7 pp
Return on assets · company comparison
7/29 level · 7/29 change
All-company data · latest reported quarter
CompanyROAROA changeReported
Ares Commercial Real Estate Corporation ACRE0.1%0.0 ppMar 2026
BrightSpire Capital, Inc. BRSP-0.4%+0.1 ppJun 2026
AGNC Investment Corp. AGNC-0.5%−0.7 ppJun 2026
Franklin BSP Realty Trust, Inc. FBRT-0.6%+0.3 ppJun 2026
Orchid Island Capital, Inc. ORC-0.7%−1.8 ppJun 2026
ARMOUR Residential REIT, Inc. ARR-1.0%−1.8 ppJun 2026
Invesco Mortgage Capital Inc. IVR-1.2%−2.5 ppJun 2026
Full 20-quarter history · every available company

ROA · reported quarter history

AGNC Investment Corp. · AGNC

1.2%
-0.2%
-3.9%
-2.7%
-4.4%
4.1%
-1.0%
1.8%
-2.4%
2.3%
2.5%
-0.3%
1.6%
0.5%
0.2%
-0.6%
3.1%
3.4%
-0.5%

Ares Commercial Real Estate Corporation · ACRE

0.6%
0.6%
0.5%
0.6%
0.6%
0.7%
0.7%
0.6%
0.6%
0.2%
0.3%
0.2%
0.2%
0.2%
0.1%
0.0%
0.1%
0.0%
0.1%

ARMOUR Residential REIT, Inc. · ARR

2.7%
-1.6%
-3.8%
-2.7%
-5.8%
1.5%
-1.1%
1.3%
-5.4%
3.0%
0.5%
-1.7%
2.2%
-1.4%
0.8%
-1.9%
3.6%
4.2%
-1.0%

BrightSpire Capital, Inc. · BRSP

0.5%
0.6%
0.4%
0.3%
-0.2%
0.2%
-0.2%
0.0%
0.4%
-0.2%
-1.2%
-1.5%
0.4%
-0.4%
0.3%
-0.5%
0.1%
-0.3%
0.2%
-0.4%

Franklin BSP Realty Trust, Inc. · FBRT

0.3%
0.3%
0.3%
0.4%
-0.3%
-0.3%
-0.4%
0.1%
-0.5%
-0.6%
-0.8%
-0.4%
-1.0%
-0.8%
-0.8%
-0.9%
-0.8%
-1.2%
-0.7%
-0.6%

Invesco Mortgage Capital Inc. · IVR

2.5%
-2.9%
-12%
-7.7%
-9.0%
3.0%
1.6%
0.3%
-4.7%
2.0%
2.2%
-1.0%
2.9%
0.2%
1.3%
-1.6%
3.8%
3.3%
-1.2%

Orchid Island Capital, Inc. · ORC

1.8%
-2.7%
-9.7%
-5.0%
-8.2%
3.6%
0.3%
0.9%
-6.6%
2.4%
1.9%
-0.4%
1.3%
0.4%
1.1%
-1.8%
3.4%
4.0%
-0.7%

ROA change · reported quarter history

AGNC Investment Corp. · AGNC

−5.6 pp
+4.3 pp
+2.9 pp
+4.5 pp
+2.0 pp
−1.8 pp
+3.5 pp
−2.1 pp
+4.0 pp
−1.8 pp
−2.3 pp
−0.3 pp
+1.5 pp
+2.9 pp
−0.7 pp

Ares Commercial Real Estate Corporation · ACRE

0.0 pp
+0.1 pp
+0.2 pp
0.0 pp
0.0 pp
−0.5 pp
−0.4 pp
−0.4 pp
−0.4 pp
0.0 pp
−0.2 pp
−0.2 pp
−0.1 pp
−0.2 pp
0.0 pp

ARMOUR Residential REIT, Inc. · ARR

−8.5 pp
+3.1 pp
+2.7 pp
+4.0 pp
+0.4 pp
+1.5 pp
+1.6 pp
−3.0 pp
+7.6 pp
−4.4 pp
+0.3 pp
−0.2 pp
+1.4 pp
+5.6 pp
−1.8 pp

BrightSpire Capital, Inc. · BRSP

−0.7 pp
−0.4 pp
−0.6 pp
−0.3 pp
+0.6 pp
−0.4 pp
−1.0 pp
−1.5 pp
0.0 pp
−0.2 pp
+1.5 pp
+1.0 pp
−0.3 pp
+0.1 pp
−0.1 pp
+0.1 pp

Franklin BSP Realty Trust, Inc. · FBRT

−0.6 pp
−0.6 pp
−0.7 pp
−0.3 pp
−0.2 pp
−0.3 pp
−0.4 pp
−0.5 pp
−0.5 pp
−0.2 pp
0.0 pp
−0.5 pp
+0.2 pp
−0.4 pp
+0.1 pp
+0.3 pp

Invesco Mortgage Capital Inc. · IVR

−11.5 pp
+5.9 pp
+13.4 pp
+8.0 pp
+4.3 pp
−1.0 pp
+0.6 pp
−1.3 pp
+7.6 pp
−1.8 pp
−0.9 pp
−0.6 pp
+0.9 pp
+3.1 pp
−2.5 pp

Orchid Island Capital, Inc. · ORC

−10.0 pp
+6.3 pp
+10.0 pp
+5.9 pp
+1.6 pp
−1.2 pp
+1.6 pp
−1.3 pp
+7.9 pp
−2.0 pp
−0.8 pp
−1.4 pp
+2.1 pp
+3.6 pp
−1.8 pp
09 · compare level, then change

ROE — Leaders & Improvers

Ellington Financial Inc. has the highest ROE among the 29 REIT - Mortgage companies compared here, at 6%. Ready Capital Corporation is next at 5.9%. Redwood Trust, Inc. has the highest ROE change at +8.6 percentage points, so level and change sit with different companies. 29 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Ellington Financial Inc. leads roe at 6%; Redwood Trust, Inc. leads roe change at +8.6 percentage points.

LeaderEllington Financial Inc. · 6%
Gap1.7% versus #2 · Ready Capital Corporation
Persistence6/8 recent comparable periods
Coverage29/29 companies · 561 observations

Investor read: Ellington Financial Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.
Return on equity · company comparison
29/29 level · 29/29 change
All-company data · latest reported quarter
CompanyROEROE changeReported
Ellington Financial Inc. EFC6.0%+3.5 ppMar 2026
Ready Capital Corporation RC5.9%0.0 ppMar 2026
Annaly Capital Management, Inc. NLY5.4%+4.9 ppJun 2026
Adamas Trust, Inc. ADAM3.7%+3.4 ppJun 2026
NexPoint Real Estate Finance, Inc. NREF3.1%−1.8 ppMar 2026
Chicago Atlantic Real Estate Finance, Inc. REFI1.6%−1.8 ppMar 2026
Apollo Commercial Real Estate Finance, Inc. ARI1.4%+0.1 ppMar 2026
TPG RE Finance Trust, Inc. TRTX1.2%−0.7 ppJun 2026
Franklin BSP Realty Trust, Inc. FBRT1.1%−0.3 ppJun 2026
Ladder Capital Corp LADR1.0%−0.1 ppJun 2026
Starwood Property Trust, Inc. STWD0.8%−0.8 ppMar 2026
Rithm Capital Corp. RITM0.8%−3.2 ppJun 2026
MFA Financial, Inc. MFA-0.1%−2.3 ppMar 2026
Redwood Trust, Inc. RWT-0.1%+8.6 ppJun 2026
TPG Mortgage Investment Trust, Inc. MITT-0.6%−2.7 ppMar 2026
Chimera Investment Corporation CIM-0.8%−2.7 ppMar 2026
Arbor Realty Trust, Inc. ABR-1.0%−2.2 ppJun 2026
Ares Commercial Real Estate Corporation ACRE-1.9%−3.5 ppMar 2026
BrightSpire Capital, Inc. BRSP-2.2%+0.2 ppJun 2026
Blackstone Mortgage Trust, Inc. BXMT-2.4%−2.6 ppJun 2026
Angel Oak Mortgage REIT, Inc. AOMR-2.9%−10.9 ppMar 2026
Claros Mortgage Trust, Inc. CMTG-3.2%+0.6 ppMar 2026
Two Harbors Investment Corp. TWO-3.4%−16.1 ppJun 2026
Dynex Capital, Inc. DX-3.9%−3.6 ppMar 2026
PennyMac Mortgage Investment Trust PMT-4.7%−5.1 ppJun 2026
AGNC Investment Corp. AGNC-4.8%−6.8 ppJun 2026
Orchid Island Capital, Inc. ORC-5.8%−14.8 ppJun 2026
ARMOUR Residential REIT, Inc. ARR-9.5%−16.6 ppJun 2026
Invesco Mortgage Capital Inc. IVR-9.5%−20.0 ppJun 2026
Full 20-quarter history · every available company

ROE · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

7.9%
-1.0%
-27%
-21%
-35%
30%
-7.7%
15%
-21%
21%
21%
-2.2%
15%
5.0%
2.0%
-5.5%
30%
32%
-4.8%

Annaly Capital Management, Inc. · NLY

3.7%
3.1%
16%
7.0%
-2.2%
-7.2%
-7.2%
1.4%
-5.3%
-3.4%
4.0%
-0.1%
0.7%
3.9%
1.1%
0.5%
6.1%
7.1%
2.0%
5.4%

ARMOUR Residential REIT, Inc. · ARR

12%
-7.3%
-25%
-24%
-60%
15%
-11%
14%
-57%
32%
4.6%
-16%
21%
-14%
7.1%
-18%
34%
39%
-9.5%

Blackstone Mortgage Trust, Inc. · BXMT

2.1%
2.9%
2.3%
2.2%
2.3%
-1.0%
2.6%
2.2%
0.7%
0.0%
-2.8%
-1.4%
-1.3%
0.9%
0.0%
0.2%
1.7%
1.1%
-0.2%
-2.4%

Chimera Investment Corporation · CIM

3.7%
0.2%
-2.9%
-1.8%
-2.1%
1.1%
0.6%
0.4%
0.0%
0.4%
1.5%
0.6%
1.5%
-2.6%
1.9%
0.4%
0.0%
1.1%
-0.8%

Dynex Capital, Inc. · DX

2.0%
2.0%
16%
3.7%
-6.0%
5.2%
-5.1%
6.3%
-5.5%
2.7%
4.4%
-0.9%
3.2%
5.0%
-0.3%
-1.0%
9.7%
10%
-3.9%

Ellington Financial Inc. · EFC

2.4%
3.5%
-0.6%
-5.6%
-2.6%
3.3%
0.8%
1.0%
1.4%
2.3%
4.1%
1.6%
2.0%
2.5%
3.1%
2.2%
1.3%
6.0%

Ladder Capital Corp · LADR

1.2%
1.8%
1.3%
2.9%
1.9%
4.9%
1.5%
1.8%
2.1%
1.2%
1.1%
2.1%
1.8%
2.0%
0.8%
1.1%
1.3%
1.1%
0.2%
1.0%

Orchid Island Capital, Inc. · ORC

16%
-24%
-88%
-44%
-75%
33%
3.2%
8.7%
-67%
23%
17%
-3.8%
11%
3.3%
9.0%
-15%
29%
34%
-5.8%

Rithm Capital Corp. · RITM

2.8%
3.1%
11%
0.5%
2.3%
1.5%
1.3%
5.4%
3.1%
-1.0%
4.0%
3.3%
1.6%
3.9%
1.0%
4.0%
2.7%
1.1%
1.2%
0.8%

Starwood Property Trust, Inc. · STWD

2.9%
1.8%
6.5%
4.7%
3.7%
2.4%
0.9%
3.1%
0.7%
1.2%
2.3%
1.1%
1.0%
1.0%
1.6%
1.9%
1.1%
1.5%
0.8%

Two Harbors Investment Corp. · TWO

2.3%
0.0%
-11%
-2.9%
11%
-11%
-7.3%
8.4%
-14%
-20%
-9.1%
-2.6%
11%
13%
-3.6%
13%
6.5%
0.6%
1.7%
-3.4%

ROE change · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

−42.8 pp
+30.7 pp
+19.4 pp
+35.1 pp
+14.4 pp
−8.7 pp
+28.8 pp
−16.8 pp
+35.6 pp
−16.0 pp
−19.1 pp
−3.3 pp
+14.5 pp
+27.0 pp
−6.8 pp

Annaly Capital Management, Inc. · NLY

−5.9 pp
−10.3 pp
−23.0 pp
−5.6 pp
−3.1 pp
+3.8 pp
+11.2 pp
−1.5 pp
+6.0 pp
+7.3 pp
−2.9 pp
+0.6 pp
+5.4 pp
+3.2 pp
+0.9 pp
+4.9 pp

ARMOUR Residential REIT, Inc. · ARR

−72.3 pp
+22.6 pp
+13.7 pp
+37.3 pp
+3.3 pp
+16.5 pp
+15.4 pp
−29.9 pp
+78.2 pp
−45.7 pp
+2.5 pp
−1.9 pp
+12.3 pp
+52.5 pp
−16.6 pp

Blackstone Mortgage Trust, Inc. · BXMT

+0.2 pp
−3.9 pp
+0.3 pp
0.0 pp
−1.6 pp
+1.0 pp
−5.4 pp
−3.6 pp
−2.0 pp
+0.9 pp
+2.8 pp
+1.6 pp
+3.0 pp
+0.2 pp
−0.2 pp
−2.6 pp

Chimera Investment Corporation · CIM

−5.8 pp
+0.9 pp
+3.5 pp
+2.2 pp
+2.1 pp
−0.7 pp
+0.9 pp
+0.2 pp
+1.5 pp
−3.0 pp
+0.4 pp
−0.2 pp
−1.5 pp
+3.7 pp
−2.7 pp

Dynex Capital, Inc. · DX

−8.0 pp
+3.2 pp
−20.6 pp
+2.6 pp
+0.5 pp
−2.5 pp
+9.5 pp
−7.2 pp
+8.7 pp
+2.3 pp
−4.7 pp
−0.1 pp
+6.5 pp
+5.2 pp
−3.6 pp

Ellington Financial Inc. · EFC

−6.1 pp
+3.9 pp
+6.4 pp
+4.0 pp
−1.0 pp
+3.3 pp
+0.6 pp
+0.6 pp
+0.2 pp
−1.0 pp
+0.6 pp
−0.7 pp
+3.5 pp

Ladder Capital Corp · LADR

+0.7 pp
+3.1 pp
+0.2 pp
−1.1 pp
+0.2 pp
−3.7 pp
−0.4 pp
+0.3 pp
−0.3 pp
+0.8 pp
−0.3 pp
−1.0 pp
−0.5 pp
−0.9 pp
−0.6 pp
−0.1 pp

Orchid Island Capital, Inc. · ORC

−90.8 pp
+57.1 pp
+90.7 pp
+52.5 pp
+7.6 pp
−10.1 pp
+13.4 pp
−12.5 pp
+78.4 pp
−19.9 pp
−7.6 pp
−11.4 pp
+17.5 pp
+30.4 pp
−14.8 pp

Rithm Capital Corp. · RITM

−0.5 pp
−1.6 pp
−9.5 pp
+4.9 pp
+0.8 pp
−2.5 pp
+2.7 pp
−2.1 pp
−1.5 pp
+4.9 pp
−3.0 pp
+0.7 pp
+1.1 pp
−2.8 pp
+0.2 pp
−3.2 pp

Starwood Property Trust, Inc. · STWD

+0.8 pp
+0.6 pp
−5.6 pp
−1.6 pp
−3.0 pp
−1.2 pp
+1.4 pp
−2.0 pp
+0.3 pp
−0.2 pp
−0.7 pp
+0.8 pp
+0.1 pp
+0.5 pp
−0.8 pp

Two Harbors Investment Corp. · TWO

+9.1 pp
−11.0 pp
+3.4 pp
+11.3 pp
−25.8 pp
−8.7 pp
−1.8 pp
−11.0 pp
+25.5 pp
+32.5 pp
+5.5 pp
+15.3 pp
−4.6 pp
−12.2 pp
+5.3 pp
−16.1 pp
10 · not available

Gross NPA — Leaders & Improvers

No company in this REIT - Mortgage comparison reports gross NPA on a comparable basis, so there is nothing to rank here — 0 of 29 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.
11 · compare level, then change

Valuation Against Growth & Quality

Ready Capital Corporation has the lowest P/BV ÷ ROE among the 29 REIT - Mortgage companies compared here, at 0.03×. Ellington Financial Inc. is next at 0.13×. The same company also holds the lowest P/BV, at 0.2×. 12 of 29 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Ready Capital Corporation has the lowest comparable P/BV ÷ ROE at 0.03×, 76.9% below Ellington Financial Inc.. Only 12 of 29 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderReady Capital Corporation · 0.03×
Gap76.9% versus #2 · Ellington Financial Inc.
Persistence0/8 recent comparable periods
Coverage12/29 companies · 385 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Banks are compared on P/BV and P/BV÷ROE, not PEG. Lower is better only if asset quality and return durability hold; cheap book value with weakening NPAs is not automatically attractive.
Valuation · company comparison
12/29 level · 29/29 change
All-company data · latest reported quarter
CompanyP/BV ÷ ROEP/BVReported
BrightSpire Capital, Inc. BRSP2.60.8Jun 2026
Arbor Realty Trust, Inc. ABR1.30.4Jun 2026
Starwood Property Trust, Inc. STWD1.21.0Mar 2026
Ladder Capital Corp LADR0.90.9Jun 2026
Blackstone Mortgage Trust, Inc. BXMT0.80.9Jun 2026
Rithm Capital Corp. RITM0.80.6Jun 2026
Claros Mortgage Trust, Inc. CMTG0.60.2Mar 2026
Apollo Commercial Real Estate Finance, Inc. ARI0.60.8Mar 2026
Ares Commercial Real Estate Corporation ACRE0.50.5Mar 2026
TPG RE Finance Trust, Inc. TRTX0.50.6Jun 2026
Franklin BSP Realty Trust, Inc. FBRT0.50.6Jun 2026
Chicago Atlantic Real Estate Finance, Inc. REFI0.50.8Mar 2026
Two Harbors Investment Corp. TWO0.40.8Jun 2026
Redwood Trust, Inc. RWT0.40.7Jun 2026
Chimera Investment Corporation CIM0.40.4Mar 2026
NexPoint Real Estate Finance, Inc. NREF0.20.7Mar 2026
TPG Mortgage Investment Trust, Inc. MITT0.20.4Mar 2026
Annaly Capital Management, Inc. NLY0.21.0Jun 2026
Angel Oak Mortgage REIT, Inc. AOMR0.20.8Mar 2026
MFA Financial, Inc. MFA0.20.6Mar 2026
Adamas Trust, Inc. ADAM0.20.6Jun 2026
Ellington Financial Inc. EFC0.10.8Mar 2026
Dynex Capital, Inc. DX0.11.0Mar 2026
PennyMac Mortgage Investment Trust PMT0.10.5Jun 2026
AGNC Investment Corp. AGNC0.01.0Jun 2026
Orchid Island Capital, Inc. ORC0.01.0Jun 2026
Invesco Mortgage Capital Inc. IVR0.00.7Jun 2026
Ready Capital Corporation RC0.00.2Mar 2026
ARMOUR Residential REIT, Inc. ARR0.00.8Jun 2026
Full 20-quarter history · every available company

P/BV ÷ ROE · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

0.1
0.0
0.1
0.0
0.0
0.1
0.2
0.5
0.0
0.0

Annaly Capital Management, Inc. · NLY

0.1
0.3
0.1
0.1
0.6
0.2
1.3
0.2
0.9
1.7
0.1
0.1
0.5
0.2

ARMOUR Residential REIT, Inc. · ARR

0.1
0.1
0.1
0.0
0.2
0.0
0.1
0.0
0.0

Blackstone Mortgage Trust, Inc. · BXMT

0.5
0.4
0.5
0.5
0.4
0.3
0.4
1.2
0.9
4.6
0.5
0.8

Chimera Investment Corporation · CIM

0.1
1.9
0.1
0.3
0.4
0.4
0.1
0.2
0.1
0.1
0.3
0.4

Dynex Capital, Inc. · DX

0.4
0.4
0.1
0.2
0.2
0.1
0.3
0.2
0.3
0.2
0.1
0.1

Ellington Financial Inc. · EFC

0.4
0.2
0.2
0.9
0.7
0.5
0.3
0.2
0.5
0.4
0.3
0.2
0.3
0.7
0.1

Ladder Capital Corp · LADR

0.8
0.6
0.8
0.3
0.4
0.2
0.5
0.5
0.4
0.8
0.8
0.5
0.5
0.5
1.2
0.8
0.7
0.9
4.3
0.9

Orchid Island Capital, Inc. · ORC

0.1
0.0
0.3
0.1
0.0
0.1
0.1
0.3
0.1
0.0
0.0

Rithm Capital Corp. · RITM

0.3
0.2
0.1
1.2
0.2
0.4
0.4
0.1
0.2
0.2
0.2
0.5
0.2
0.8
0.2
0.3
0.7
0.5
0.8

Starwood Property Trust, Inc. · STWD

0.5
0.7
0.2
0.2
0.2
0.4
1.0
0.3
1.4
0.9
0.4
0.9
1.1
1.0
0.7
0.6
0.9
0.7
1.2

Two Harbors Investment Corp. · TWO

0.3
0.1
0.1
0.1
0.0
0.1
0.1
1.0
0.4

P/BV · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

AGNC Investment Corp. · AGNC

0.8
0.8
0.8
0.7
0.6
0.8
0.7
0.8
0.8
0.8
0.8
0.8
0.9
0.8
0.9
0.9
0.9
0.9
0.9
1.0

Annaly Capital Management, Inc. · NLY

0.2
0.9
0.9
0.9
0.7
0.9
0.8
0.8
0.9
0.9
0.9
0.9
0.9
0.8
0.9
0.9
0.9
1.0
1.0
1.0

ARMOUR Residential REIT, Inc. · ARR

0.8
0.8
0.8
0.8
0.6
0.7
0.8
0.8
0.8
0.7
0.8
0.8
0.8
0.8
0.8
0.8
0.8
0.9
0.9
0.8

Blackstone Mortgage Trust, Inc. · BXMT

1.1
1.1
1.2
1.0
0.9
0.8
0.7
0.8
0.8
0.8
0.8
0.8
0.9
0.8
0.9
0.9
0.9
0.9
1.0
0.9

Chimera Investment Corporation · CIM

0.4
0.4
0.3
0.2
0.1
0.2
0.2
0.2
0.1
0.1
0.1
0.1
0.1
0.5
0.1
0.1
0.1
0.4
0.4

Dynex Capital, Inc. · DX

0.8
0.8
0.8
0.8
0.7
0.8
0.8
0.8
0.8
0.8
0.8
0.9
0.9
0.9
1.0
1.0
0.8
1.0
1.0

Ellington Financial Inc. · EFC

0.9
0.8
0.8
0.7
0.6
0.6
0.7
0.7
0.7
0.7
0.7
0.7
0.7
0.8
0.8
0.7
0.8
0.8

Ladder Capital Corp · LADR

0.9
1.0
1.0
0.9
0.8
0.8
0.8
0.9
0.9
1.0
0.9
0.9
1.0
0.9
1.0
0.9
0.9
0.9
0.9
0.9

Orchid Island Capital, Inc. · ORC

0.9
1.0
1.0
1.0
0.7
0.8
0.9
0.8
1.0
0.9
1.0
0.9
0.9
0.9
0.9
0.9
0.9
0.9
1.0
1.0

Rithm Capital Corp. · RITM

0.8
0.8
0.7
0.6
0.5
0.6
0.6
0.6
0.6
0.7
0.8
0.7
0.8
0.7
0.8
0.8
0.7
0.7
0.6
0.6

Starwood Property Trust, Inc. · STWD

1.6
1.2
1.2
1.0
0.9
0.9
0.9
1.0
1.0
1.1
1.0
1.0
1.1
1.0
1.1
1.1
1.0
1.0
1.0

Two Harbors Investment Corp. · TWO

0.7
0.7
0.7
0.7
0.5
0.6
0.6
0.6
0.6
0.7
0.6
0.6
0.7
0.6
0.7
0.6
0.6
0.6
0.7
0.8
12 · before the conclusion, check the blind spots

What can make this comparison misleading?

This REIT - Mortgage comparison names 6 specific ways its own evidence can mislead, all listed below. All 29 companies here report on comparable dates, so no rank carries a stale marker. 2 of the 7 ranked sections have fewer than three usable current readings. A high growth rate can still be a low-base artefact.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROE can be manufactured with leverage. Read it beside ROA and asset quality.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • Banks and lenders are not forced through operating-margin or ROCE comparisons; missing lender-specific fields remain visibly missing.
  • Thin comparisons: Funding base, Asset quality have fewer than three usable current readings.
13 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 29 REIT - Mortgage companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-08-04. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-08-04 · weekly price and relative-strength history
Derived metricsGrowth, changes and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
14 · questions investors ask, short speakable answers

REIT - Mortgage company comparison FAQs

These 21 answers restate the REIT - Mortgage comparison above in question form. Every one is computed from the same 29 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-08-04. Nothing here is estimated, and none of it is a recommendation.

Is the REIT - Mortgage sector outperforming S&P 500?

REIT - Mortgage has underperformed S&P 500 by 26.3% over 52 weeks and 13.2% over 13 weeks. 2 of 29 covered companies beat the S&P 500 on Mansfield relative strength, while 15 of 29 beat the sector itself.

Which REIT - Mortgage company is largest by income?

Ready Capital Corporation leads with income of $1,057 million, based on 13 of 29 comparable companies through Mar 2026.

Which REIT - Mortgage company is growing fastest?

Dynex Capital, Inc. has the fastest current income growth at 100%, across 13 of 29 comparable companies.

Which REIT - Mortgage company has the strongest 4-Factor Sector Score?

NexPoint Real Estate Finance, Inc. ranks first at 62.5/100 with 55.7% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which REIT - Mortgage company has the lowest comparable P/BV-to-ROE?

Ready Capital Corporation has the lowest comparable P/BV ÷ ROE at 0.03, among 12 of 29 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this REIT - Mortgage comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Which REIT - Mortgage company is the biggest?

Ready Capital Corporation is the largest, with trailing-twelve-month income of $1,057 million, ahead of Starwood Property Trust, Inc. at $904 million. That covers 13 of 29 companies with comparable reporting through Mar 2026.

Which REIT - Mortgage company makes the most profit?

Ready Capital Corporation earns the most, at $631 million of trailing-twelve-month net profit, from 13 of 29 comparable companies. Apollo Commercial Real Estate Finance, Inc. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which REIT - Mortgage company earns the highest return on capital?

Ares Commercial Real Estate Corporation leads on return on assets at 0.1%, across 7 of 29 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which REIT - Mortgage stock is the cheapest?

On price-to-book divided by return on equity — where a LOWER number is cheaper — Ready Capital Corporation screens cheapest at 0.03×. Only 12 of 29 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the REIT - Mortgage sector beating the market?

REIT - Mortgage has underperformed S&P 500 by 26.3% over the last 52 weeks and 13.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 29 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which REIT - Mortgage stock has the strongest price momentum?

Adamas Trust, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which REIT - Mortgage company scores highest for research priority?

NexPoint Real Estate Finance, Inc. scores 62.5 out of 100 with 55.7% evidence confidence, from 24.1 points on growth and earnings, 13.1 on capital efficiency, 8.6 on valuation and 16.7 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many REIT - Mortgage companies does this comparison cover, and over what period?

It compares 29 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the REIT - Mortgage sector?

The 29 REIT - Mortgage companies on this page carry $65,623 million of combined market value. Annaly Capital Management, Inc. is the largest at $17,147 million, about 26% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04.

What is the REIT - Mortgage sector's P/B ratio?

The median price-to-book ratio across the 29 REIT - Mortgage companies on this page is 0.7×, measured on the 29 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04.

How is the REIT - Mortgage sector performing?

2 of the 29 covered REIT - Mortgage companies are beating S&P 500 on Mansfield relative strength. The sector itself is 26.3% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04.

How many REIT - Mortgage stocks are listed in the US?

This comparison covers 29 listed REIT - Mortgage companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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