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Small Cap Mortgage REIT
Stocks Ranked by
Market Capitalization

Name Market cap Price Price
change %
EFC
1
Ellington Financial
EFC
$1.69B
$1.69B $13.46 0.66%
ORC
2
Orchid Island Capital
ORC
$1.31B
$1.31B $6.56 0.15%
TWO
3
Two Harbors Investment
TWO
$1.27B
$1.27B $12.10 0%
LADR
4
Ladder Capital
LADR
$1.24B
$1.24B $9.81 0.51%
CIM
5
Chimera Investment
CIM
$1.06B
$1.06B $12.69 0%
ABR icon
6
Arbor Realty Trust
ABR
$977M
$977M $5.08 0.2%
MFA
7
MFA Financial
MFA
$932M
$932M $9.17 0.33%
ARI
8
Apollo Commercial Real Estate
ARI
$864M
$864M $6.60 1.93%
PMT
9
PennyMac Mortgage Investment
PMT
$845M
$845M $9.69 1.02%
ADAM
10
Adamas Trust
ADAM
$777M
$777M $8.65 0.69%
IVR icon
11
Invesco Mortgage Capital
IVR
$759M
$759M $7.41 1.33%
BRSP
12
BrightSpire Capital
BRSP
$651M
$651M $5 4.58%
TRTX
13
TPG RE Finance Trust
TRTX
$635M
$635M $8.21 3.86%
RWT
14
Redwood Trust
RWT
$588M
$588M $4.68 0.21%
FBRT
15
Franklin BSP Realty Trust
FBRT
$580M
$580M $7.53 2.84%
KREF
16
KKR Real Estate Finance Trust
KREF
$466M
$466M $7.24 1.23%
NREF
17
NexPoint Real Estate Finance
NREF
$318M
$318M $16.87 1.52%
CMTG icon
18
Claros Mortgage Trust
CMTG
$290M
$290M $2.07 2.36%
RC
19
Ready Capital
RC
$260M
$260M $1.44 0.69%
REFI
20
Chicago Atlantic Real Estate Finance
REFI
$251M
$251M $9.87 2.18%

Small Cap Mortgage REIT Stocks at a Glance

Mortgage REITs invest in mortgages and mortgage-backed securities rather than physical property, earning the spread between asset yields and funding costs. Leverage amplifies that spread, making book value and dividends acutely sensitive to interest-rate moves and prepayment speeds.

There are 20 small cap Mortgage REIT stocks — companies in the Mortgage REIT industry with a market cap between $250M and $2B — worth a combined $15.8B.

The largest by market cap are Ellington Financial (EFC) at $1.69B, Orchid Island Capital (ORC) at $1.31B and Two Harbors Investment (TWO) at $1.27B.

Among institutional investors, Redwood Trust (RWT) drew the most net new fund positions in Q1 2026: 48 funds opened new positions, taking total fund holders up 23 (11%) quarter-over-quarter.

  • Combined market cap: $15.8B across 20 stocks.
  • Small Cap: market cap between $250M and $2B.
  • Largest constituent: Ellington Financial (EFC), $1.69B market cap.
  • Most net new fund positions in Q1 2026: Redwood Trust (RWT), +23 holders.

Market caps and prices updated daily; fund activity based on aggregated SEC 13F filings for Q1 2026.