Top 15 Mortgage REIT Stocks by Marvin Score
Marvin's rules put Ellington Financial, MFA Financial and Adamas Trust at the top of 15 mortgage REITs, ranked by overall score against industry peers. Starwood Property Trust ranks last of the 15.
Mortgage REITs are real estate companies that own or finance mortgages and mortgage-backed securities, rather than owning buildings. They earn money mainly from interest, so borrowing costs and interest rates matter a great deal to them.
This list covers 15 mortgage REITs above about $300 million in size, ordered by Marvin's overall score. The score shows how each company compares with others in the same industry as of 2026-10-24. It is not a forecast.
Keep in mind that some figures are missing for several companies, because not every measure is reported the same way for mortgage REITs. Read each blurb with its caution in mind, and check the underlying filings before drawing conclusions.
The list
How Marvin ranked these stocks
Marvin included companies above about $300 million in size and ranked them by Marvin scores from zero to one hundred, highest Overall score first, within the REIT - Mortgage industry. Scores are relative to each company's own industry, so a high score means a company compares well with other mortgage REITs, not with every stock in the market.
Companies above about $300 million in size, ranked by Marvin scores (0-100, relative to each company's own industry). The REIT - Mortgage industry, highest Overall score first.
The stocks, one by one
Ellington Financial Inc. EFC
Ellington Financial leads with an overall score of 96. Revenue grew 10.1% last fiscal year, operating margin is 37.2%, and return on equity is 9.9%. That suggests healthy growth and profitability. Caution: debt and cash flow figures are missing, so leverage is unclear.
MFA Financial, Inc. MFA
MFA Financial scores 90 overall, with a quality score of 74 and return on equity of 8.3%, a moderate profit return on shareholder money. Caution: growth, margin and debt figures are not available, so the picture is incomplete.
Adamas Trust, Inc. ADAM
Adamas Trust has an overall score of 93, helped by an opportunity score of 95. Return on equity is 13.7% and debt-to-equity is 0.46, which is fairly low debt. Caution: its quality score is only 79.
PennyMac Mortgage Investment Trust PMT
PennyMac Mortgage Investment Trust scores 85 overall, with an opportunity score of 89. Caution: revenue growth was -8.0%, meaning a decline, and its quality score is a middling 51. Return on equity and debt figures are unavailable.
Arbor Realty Trust ABR
Arbor Realty Trust scores 74 overall. Revenue growth was -18.0%, a clear decline, and return on equity is just 2.1%, a weak profit return. Caution: debt-to-equity of 4.00 signals heavy borrowing compared with others in the list.
ARMOUR Residential REIT, Inc. ARR
ARMOUR Residential REIT earns an overall score of 69, with quality at 48 and opportunity at 73. Return on equity is a strong 16.7%. Caution: growth, margin and debt figures are not available, so its financial strength is only partly visible.
Franklin BSP Realty Trust, Inc. FBRT
Franklin BSP Realty Trust has a high quality score of 89 and revenue growth of 20.9%. Caution: its opportunity score is only 34 and return on equity is a modest 4.6%, which holds its overall score to 64.
Dynex Capital, Inc. DX
Dynex Capital posts return on equity of 13.7%, healthy for the group, and an opportunity score of 67. Caution: its quality score is 66, lower than many peers, leaving an overall score of 67. Growth and debt figures are missing.
Annaly Capital Management, Inc. NLY
Annaly Capital Management has an overall score of 56, with quality at 58 and opportunity at 52. Return on equity of 17.4% is among the stronger figures in this list. Caution: growth and debt figures are unavailable.
Invesco Mortgage Capital Inc. IVR
Invesco Mortgage Capital sits mid-table with an overall score of 59, quality of 53 and opportunity of 49. Return on equity is 12.1%, a decent return. Caution: the scores are middling, and growth, margin and debt figures are not available.
Chimera Investment Corporation CIM
Chimera Investment Corporation has an overall score of 46 and a low debt-to-equity ratio of 0.10. Caution: return on equity is only 0.1%, essentially no profit return on shareholder money, and its quality score is just 40.
Orchid Island Capital, Inc. ORC
Orchid Island Capital has a strong quality score of 81 and return on equity of 17.0%. Caution: its opportunity score is just 26, which holds the overall score to 49. Growth and debt figures are missing.
Ladder Capital Corp LADR
Ladder Capital Corp has an overall score of 51, with quality at 63 but opportunity at 39. Caution: return on equity is a low 3.7%, and growth and debt figures are unavailable.
TPG RE Finance Trust, Inc. TRTX
TPG RE Finance Trust shows a wide operating margin of 45.1% but revenue growth of -4.6%, a small decline. Caution: debt-to-equity is 3.18, which is notable borrowing, and return on equity is 6.2%. Its overall score is 41.
Starwood Property Trust, Inc. STWD
Starwood Property Trust has a quality score of 86, but opportunity is only 23, giving the lowest overall score here at 38. Caution: revenue growth was -5.3%, a decline, and return on equity is just 3.5%.
Common questions
What is a mortgage REIT?
A mortgage REIT is a real estate investment trust that invests in mortgages or mortgage-backed securities instead of owning properties. It earns income mostly from interest, often using borrowed money, so interest rate changes can affect results.
Why do some stocks have fewer figures than others?
Marvin only shows a figure when the data is available for that company. Measures like operating margin, free cash flow margin and gross margin fit mortgage REITs poorly, so they are often missing. Where a figure is absent, treat that part of the picture as unknown.
Does a high Marvin score mean a stock is a good investment?
No. The scores only describe how a company compares with other companies in its industry today. They are not predictions or advice, and they do not tell you what a stock will do next.
Keep reading
- Top 15 Real Estate Stocks Marvin Rates Most Attractive Now
- Top 20 REIT Stocks by Marvin Score
- Top 15 Real Estate Stocks Ranked by Marvin Scores
- Top 15 Real Estate Companies With the Strongest Businesses
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Marvin's scores (0-100) compare each company with others in its industry today. Growth and margin figures come from SEC filings. This is general information, not personal investment advice or a recommendation to buy or sell anything. Do your own research.