Based on key financial metrics such as the price-to-sales ratio, shareholder yield and the price-earnings ratio, the following 4 stocks made the list for top value stocks in the Mortgage Real Estate Investment Trusts (REITs) industry. Those looking for value stocks to add to their portfolio may want to use this list as a starting point for further investment research.
Why Focus on Undervalued Mortgage Real Estate Investment Trusts (REITs) Stocks?
Value investors seek to buy stocks at a discount to their intrinsic value. Long-term returns show that such strategies are advantageous. Value stocks, as a group, tend to outperform growth stocks over extended periods of time. Typically, value investors perform financial analysis of numerous metrics, don’t follow the herd and are long-term investors.
AAII’s A+ Investor Value Grade is derived from a stock’s Value Score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.
What Goes Into AAII’s Value Grade?
Stock evaluation requires access to huge amounts of data as well as the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movement. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors with that task.
AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A–F grades for more than just value. It is possible for a stock to appear cheap based on one valuation metric but appear expensive on another. It is also possible for one valuation ratio to be associated with outperforming stocks during certain periods of time but not others. Some stocks may even have null values for certain metrics like the price-earnings ratio or the price-to-book ratio but not others. An example of this would be a company with losses instead of profits or a negative book value because of heavy borrowing. Negative earnings or book value result in non-meaningful ratios that are left blank or null.
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4 Undervalued Mortgage Real Estate Investment Trusts (REITs) Stocks
Of course, there are countless value stocks that are worth mentioning, but this is a concise list of the top 4 undervalued stocks in the Mortgage Real Estate Investment Trusts (REITs) industry for Wednesday, March 11, 2026. Let’s take a closer look at their individual scores to see how they measure up against each other and the Mortgage Real Estate Investment Trusts (REITs) industry median.
| Company | Ticker | Price/Sales | Price/Earnings | EV/EBITDA | Shareholder Yield | Price/Book Value | Price/Free Cash Flow | Value Grade |
| Adamas Trust, Inc. | ADAM | 2.34 | 7.4 | na | 11.5% | 0.83 | 62.8 | B |
| Angel Oak Mortgage REIT, Inc. | AOMR | 3.34 | 4.7 | na | 9.3% | 0.79 | na | A |
| BrightSpire Capital, Inc. | BRSP | 2.19 | na | 16.1 | 11.7% | 0.78 | na | B |
| Franklin BSP Realty Trust, Inc. | FBRT | 2.64 | 14.3 | na | 16.1% | 0.63 | 5.1 | A |
The Value Grade is assigned based on how each stock’s composite valuation compares to all other stocks.
The process for assigning grades starts with each variable for a given stock. The percentile rankings for all valid ratios that a stock has are calculated. So, for instance, a stock could have a price-to-book ranking in the 43rd percentile, a price-earnings ranking in the 67th percentile, a price-to-sales ranking in the 23rd percentile, etc. Then, those rankings are averaged for each stock. (A minimum of two valid variables are required, though all six will be used if available.)
Once the average of the individual variables is calculated, that average is ranked against all stocks. Put another way, each stock’s composite valuation is compared to all other stocks. These ranks are then sorted into quintiles from the cheapest 20% (a grade of A) to the most expensive 20% (a grade of F).
As always, we recommend that you conduct proper due diligence and research before investing in any security. We also suggest that investors utilize numerous grades, not just value, when it comes to deciding whether a company is a good fit for their allocation needs.
Adamas Trust, Inc.’s Value Grade
Value Grade:
| Metric | Score | ADAM | Industry Median |
| Price/Sales | 54 | 2.34 | 4.05 |
| Price/Earnings | 9 | 7.4 | 8.8 |
| EV/EBITDA | na | na | 16.1 |
| Shareholder Yield | 3 | 11.5% | 9.3% |
| Price/Book Value | 18 | 0.83 | 0.77 |
| Price/Free Cash Flow | 86 | 62.8 | 14.4 |
Adamas Trust, Inc. acquires, invests in, finances, and manages mortgage-related single-family and multifamily residential assets in the United States. The company operates through two segments: Investment Portfolio and Constructive. The Investment Portfolio segment manages a diversified portfolio primarily consisting of mortgage-related single-family and multifamily residential investments, including agency residential mortgage-backed securities (RMBS), non-agency RMBS, residential loans, such as business purpose loans, performing, re-performing, non-performing, and seasoned performing, multifamily loans, preferred equity investments, joint venture equity investments, multifamily investments, mezzanine lending, cross-collateralized mezzanine lending, and single-family rental. The Constructive segment is a business purpose loan lender specializing in rental and transitional loans for real estate investors; and origination and sale of loans. The company provides structured multi-family property investments; other mortgage-, residential housing- and credit-related assets and strategic investments; and commercial mortgage-backed securities (CMBS). It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Adamas Trust, Inc. was formerly known as New York Mortgage Trust, Inc. and changed its name to Adamas Trust, Inc. in September 2025. Adamas Trust, Inc. was incorporated in 2003 and is headquartered in New York, New York.
Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.
Adamas Trust, Inc. has a Value Score of 77, which is considered to be undervalued.
When you look at Adamas Trust, Inc.’s price-to-sales ratio at 2.34 compared to the industry median at 4.05, this company has a lower price relative to revenue compared to its peers. This could make Adamas Trust, Inc.’s stock more attractive for value investors.
Adamas Trust, Inc.’s price-earnings ratio is 7.40 compared to the industry median at 8.80. This means it has a lower share price relative to earnings compared to its peers. This could make Adamas Trust, Inc. more attractive for value investors.
Shareholder yield is the sum of a stock’s dividend yield (paid over previous 12 months minus special dividends) and the percentage of net share buybacks over the previous 12 months. Adamas Trust, Inc.’s shareholder yield is higher than its industry median ratio of 9.30%. Value investors may look for an attractive shareholder yield because it can be a powerful tool for identifying if the company has a good management team.
As one of the most common value metrics, the price-to-book ratio evaluates a company’s current market price relative to its book value. Adamas Trust, Inc.’s price-to-book ratio is higher than its industry median ratio of 0.77. This could make Adamas Trust, Inc. less attractive to investors looking for a new addition to their portfolio.
Lastly, let’s take a look at Adamas Trust, Inc.’s price-to-free-cash-flow ratio (P/FCF), which can indicate a company’s market value relative to its operating cash flow. Adamas Trust, Inc.’s price-to-free-cash-flow ratio is higher than its industry median ratio of 14.35. This could make Adamas Trust, Inc. less attractive because the higher P/FCF ratio indicates that Adamas Trust, Inc. is undervalued. The P/FCF ratio metric can also be viewed over a long-term time frame to see if the company's cash flow to share price value is generally improving or worsening.
Angel Oak Mortgage REIT, Inc.’s Value Grade
Value Grade:
| Metric | Score | AOMR | Industry Median |
| Price/Sales | 67 | 3.34 | 4.05 |
| Price/Earnings | 4 | 4.7 | 8.8 |
| EV/EBITDA | na | na | 16.1 |
| Shareholder Yield | 6 | 9.3% | 9.3% |
| Price/Book Value | 17 | 0.79 | 0.77 |
| Price/Free Cash Flow | na | na | 14.4 |
Angel Oak Mortgage REIT, Inc., a real estate finance company, focuses on acquiring and investing in first lien nonqualified mortgage loans and other mortgage-related assets in the United States mortgage market. It offers investment securities; residential mortgage loans; and commercial mortgage loans. The company also offers futures contracts; non-agency residential mortgage backed securities; non-recourse securitization obligations; collateralized by residential mortgage loans; commercial bridge loans; mezzanine loans; construction loans; B-Notes; home equity lines of credit (HELOCs); and other related instruments. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Angel Oak Mortgage, Inc. and changed its name to Angel Oak Mortgage REIT, Inc. in March 2023. Angel Oak Mortgage REIT, Inc. was incorporated in 2018 and is headquartered in Atlanta, Georgia.
Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.
Angel Oak Mortgage REIT, Inc. has a Value Score of 92, which is considered to be undervalued.
Angel Oak Mortgage REIT, Inc.’s price-earnings ratio is 4.7 compared to the industry median at 8.8. This means that it has a lower price relative to its earnings compared to its peers. This makes Angel Oak Mortgage REIT, Inc. more attractive for value investors.
Angel Oak Mortgage REIT, Inc.’s price-to-book ratio is lower than its peers. This could make Angel Oak Mortgage REIT, Inc. fairly attractive for value investors when compared to the industry median at 0.77.
You can read more about Angel Oak Mortgage REIT, Inc.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.
BrightSpire Capital, Inc.’s Value Grade
Value Grade:
| Metric | Score | BRSP | Industry Median |
| Price/Sales | 52 | 2.19 | 4.05 |
| Price/Earnings | na | na | 8.8 |
| EV/EBITDA | 63 | 16.1 | 16.1 |
| Shareholder Yield | 3 | 11.7% | 9.3% |
| Price/Book Value | 17 | 0.78 | 0.77 |
| Price/Free Cash Flow | na | na | 14.4 |
BrightSpire Capital, Inc. operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Norway. It operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. The company focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of senior mortgage loans, mezzanine loans, preferred equity investments, net leased real estate and other real estate properties, and CRE debt securities. It also engages in money market activities; and invests in private equity funds. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Colony Credit Real Estate, Inc. and changed its name to BrightSpire Capital, Inc. in June 2021. BrightSpire Capital, Inc. was incorporated in 2017 and is based in New York, New York.
Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.
BrightSpire Capital, Inc. has a Value Score of 77, which is considered to be undervalued.
BrightSpire Capital, Inc.’s price-to-book ratio is lower than its peers. This could make BrightSpire Capital, Inc. fairly attractive for value investors when compared to the industry median at 0.77.
You can read more about BrightSpire Capital, Inc.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.
Franklin BSP Realty Trust, Inc.’s Value Grade
Value Grade:
| Metric | Score | FBRT | Industry Median |
| Price/Sales | 58 | 2.64 | 4.05 |
| Price/Earnings | 34 | 14.3 | 8.8 |
| EV/EBITDA | na | na | 16.1 |
| Shareholder Yield | 2 | 16.1% | 9.3% |
| Price/Book Value | 13 | 0.63 | 0.77 |
| Price/Free Cash Flow | 11 | 5.1 | 14.4 |
Franklin BSP Realty Trust, Inc., a real estate finance company, originates and manages a diversified portfolio of commercial real estate debt investments through a REIT structure in the United States and internationally. The company operates through Real Estate Debt Business; Agency Business; Commercial Real Estate Conduit Business; and Real Estate Owned Business segments. The Real Estate Debt Business focuses on originating, acquiring, and asset managing commercial real estate debt investments, including first mortgages, subordinate mortgages, mezzanine loans, and participations in such loans and focuses on investing in and asset managing real estate securities. The Agency Business focuses on originating, selling, and servicing loans under programs offered by government-sponsored enterprises and agencies. The Commercial Real Estate Conduit Business is focused on generating risk-adjusted returns by originating and selling fixed-rate commercial real estate loans. The Real Estate Owned Business represents real estate acquired by the company through foreclosure, deed-in-lieu of foreclosure, and purchase. It also originates conduit loans. Franklin BSP Realty Trust, Inc. was formerly known as Benefit Street Partners Realty Trust, Inc. and changed its name to Franklin BSP Realty Trust, Inc. in October 2021. Franklin BSP Realty Trust, Inc. was incorporated in 2012 and is headquartered in New York, New York.
Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.
Franklin BSP Realty Trust, Inc. has a Value Score of 92, which is considered to be undervalued.
Franklin BSP Realty Trust, Inc.’s price-earnings ratio is 14.3 compared to the industry median at 8.8. This means that it has a higher price relative to its earnings compared to its peers. This makes Franklin BSP Realty Trust, Inc. less attractive for value investors.
Franklin BSP Realty Trust, Inc.’s price-to-book ratio is higher than its peers. This could make Franklin BSP Realty Trust, Inc. less attractive for value investors when compared to the industry median at 0.77.
You can read more about Franklin BSP Realty Trust, Inc.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.
Other Mortgage Real Estate Investment Trusts (REITs) Stock Grades
Value is just one of the five Stock Grades included in our A+ Investor service. AAII members can see the top-graded stocks—those with grades of A or B for value, growth, momentum, earnings estimate revisions and quality—on the A+ Stock Grades Screener.
Also, if you want full access to all of AAII’s premium services, you can subscribe to one convenient bundled plan called AAII Platinum where you can try out A+ Investor, AAII Dividend Investing, the Stock Superstars Report, Growth Investing and VMQ Stocks. With the other premium services, you can dive deep into additional metrics, portfolios, commentary and information about Mortgage Real Estate Investment Trusts (REITs) stocks as well as other industrys.
Choosing Which of the 4 Best Mortgage Real Estate Investment Trusts (REITs) Stocks Is Right for You
Choosing which value stocks to invest in will ultimately depend on your individual goals and allocation; however, comparing similar value stocks in the same industry can help you analyze which might be better investments for you in the long run. So, let’s take a look at the Value Grade for all of our stocks.
- Adamas Trust, Inc. stock has a Value Grade of B.
- Angel Oak Mortgage REIT, Inc. stock has a Value Grade of A.
- BrightSpire Capital, Inc. stock has a Value Grade of B.
- Franklin BSP Realty Trust, Inc. stock has a Value Grade of A.
Now that you have a bit more background about each of the 4 undervalued stocks in the Mortgage Real Estate Investment Trusts (REITs) industry as well as their overall grades, it’s time for you to conduct additional research to see if these could fit your portfolio needs based on your goals and risk tolerance. AAII can help you figure out both and identify which investments align with what works best for you.
We do so through a program of education that teaches you to invest for yourself and become an effective manager of your own wealth—no more relying on others for your financial independence. You can rely on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis that makes you a better investor.
A+ Investor adds to that qualitative teaching by giving you a powerful data suite that helps you whittle down investment decisions to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.
Additional Resources About Mortgage Real Estate Investment Trusts (REITs) Stocks
Want to learn more about Mortgage Real Estate Investment Trusts (REITs) stocks to see if they could be the right investment for you? Check out some additional resources and articles to help you on your financial journey.
- 4 Undervalued Mortgage Real Estate Investment Trusts (REITs) Stocks for Wednesday, March 11
- 4 Undervalued Mortgage Real Estate Investment Trusts (REITs) Stocks for Tuesday, March 10
- Why Arbor Realty Trust, Inc.’s (ABR) Stock Is Down 5.76%
- Why Ready Capital Corporation’s (RC) Stock Is Up 5.32%
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