PMT
PennyMac Mortgage Investment Trust
REIT - Mortgage
Market Cap$960M
5Y Perf.+0.2%
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Stock Comparison
PMT vs MFA vs MITT
Revenue, margins, valuation, and 5-year total return — side by side.
MFA
MFA Financial, Inc.
REIT - Mortgage
Market Cap$997M
5Y Perf.+44.5%
MITT
TPG Mortgage Investment Trust Inc
REIT - Mortgage
Market Cap$250M
5Y Perf.+6.9%
PMT vs MFA vs MITT — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | PMT | MFA | MITT |
|---|---|---|---|
| Industry | REIT - Mortgage | REIT - Mortgage | REIT - Mortgage |
| Market Cap | $960M | $997M | $250M |
| Revenue (TTM) | $957M | $650M | $493M |
| Net Income (TTM) | $132M | $135M | $34M |
| Gross Margin | 49.5% | 59.3% | 94.2% |
| Operating Margin | 35.7% | 41.0% | 93.3% |
| Forward P/E | 7.1x | 7.1x | 7.2x |
| Total Debt | $19.09B | $10.99B | $8.10B |
| Cash & Equiv. | $272M | $213M | $76M |
PMT vs MFA vs MITT — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
PMT
MFA
MITT
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| PennyMac Mortgage I… (PMT) | 100 | 100.2 | +0.2% |
| MFA Financial, Inc. (MFA) | 100 | 144.5 | +44.5% |
| TPG Mortgage Invest… (MITT) | 100 | 106.9 | +6.9% |
Price return only. Dividends and distributions are not included.
Quick Verdict: PMT vs MFA vs MITT
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: MFA leads in 4 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. PennyMac Mortgage Investment Trust is the stronger pick specifically for valuation and capital efficiency and capital preservation and lower volatility. As sector peers, any of these can serve as alternatives in the same allocation.
PMT
PennyMac Mortgage Investment Trust
The Real Estate Income Play
PMT is the clearest fit if your priority is long-term compounding.
- 106.3% 10Y total return vs MFA's 9.0%
- Lower P/E (7.1x vs 7.1x)
- Beta 0.71 vs MITT's 0.90, lower leverage
Best for: long-term compounding
MFA
MFA Financial, Inc.
The Real Estate Income Play
MFA carries the broadest edge in this set and is the clearest fit for income & stability and growth exposure.
- Dividend streak 1 yrs, beta 0.77, yield 18.3%
- Rev growth 213.0%, EPS growth 104.9%
- Lower volatility, beta 0.77, current ratio 2.18x
Best for: income & stability and growth exposure
MITT
TPG Mortgage Investment Trust Inc
The Real Estate Income Play
MITT is the clearest fit if your priority is momentum.
- +36.1% vs PMT's +0.1%
Best for: momentum
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | MFA | 213.0% FFO/revenue growth vs MITT's 14.4% |
| Value | PMT | Lower P/E (7.1x vs 7.1x) |
| Quality / Margins | MFA | 20.7% margin vs MITT's 6.8% |
| Stability / Safety | PMT | Beta 0.71 vs MITT's 0.90, lower leverage |
| Dividends | MFA | 18.3% yield, 1-year raise streak, vs PMT's 14.5% |
| Momentum (1Y) | MITT | +36.1% vs PMT's +0.1% |
| Efficiency (ROA) | MFA | 1.1% ROA vs MITT's 0.4%, ROIC 4.4% vs 4.5% |
PMT vs MFA vs MITT — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
Segment breakdown not available.
FY 2018
PMT vs MFA vs MITT — Financial Metrics
Side-by-side numbers across 3 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLMFALAGGINGPMT
PMTPennyMac Mortgage Inv…
0leads
MITTTPG Mortgage Investme…
2leads
MFAMFA Financial, Inc.
3leads
6 Total Categories
CATEGORYLEADERvs MITTvs PMTMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
MFA4/6
Valuation MetricsMultiples, price ratios, and targets
MITT3/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
MFA5/9
Total Returns1Y, 3Y, 5Y total returns with dividends
MITT3/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
MFA2/2
Income & Cash Flow (Last 12 Months)
MFA leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
PMT is the larger business by revenue, generating $957M annually — 1.9x MITT's $493M. MFA is the more profitable business, keeping 20.7% of every revenue dollar as net income compared to MITT's 6.8%. On growth, MFA holds the edge at +118.9% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | PMTPennyMac Mortgage… | MFAMFA Financial, In… | MITTTPG Mortgage Inve… |
|---|---|---|---|
| RevenueTrailing 12 months | $957M | $650M | $493M |
| EBITDAEarnings before interest/tax | $342M | $268M | $457M |
| Net IncomeAfter-tax profit | $132M | $135M | $34M |
| Free Cash FlowCash after capex | -$9.1B | $91M | $68M |
| Gross MarginGross profit ÷ Revenue | +49.5% | +59.3% | +94.2% |
| Operating MarginEBIT ÷ Revenue | +35.7% | +41.0% | +93.3% |
| Net MarginNet income ÷ Revenue | +13.8% | +20.7% | +6.8% |
| FCF MarginFCF ÷ Revenue | -9.6% | +14.0% | +13.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | -98.2% | +118.9% | +20.9% |
| EPS Growth (YoY)Latest quarter vs prior year | — | -103.0% | -2.3% |
MFA leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
MITT leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
At 5.8x trailing earnings, MFA trades at a 48% valuation discount to PMT's 11.1x P/E. On an enterprise value basis, MFA's 17.1x EV/EBITDA is more attractive than PMT's 210.9x.
| Metric | PMTPennyMac Mortgage… | MFAMFA Financial, In… | MITTTPG Mortgage Inve… |
|---|---|---|---|
| Market CapShares × price | $960M | $997M | $250M |
| Enterprise ValueMkt cap + debt − cash | $19.8B | $11.8B | $8.3B |
| Trailing P/EPrice ÷ TTM EPS | 11.14x | 5.82x | 8.77x |
| Forward P/EPrice ÷ next-FY EPS est. | 7.08x | 7.12x | 7.25x |
| PEG RatioP/E ÷ EPS growth rate | 0.38x | — | — |
| EV / EBITDAEnterprise value multiple | 210.86x | 17.07x | 18.25x |
| Price / SalesMarket cap ÷ Revenue | 0.93x | 1.14x | 0.53x |
| Price / BookPrice ÷ Book value/share | 0.51x | 0.56x | 0.44x |
| Price / FCFMarket cap ÷ FCF | — | 13.08x | 4.20x |
MITT leads this category, winning 3 of 6 comparable metrics.
Profitability & Efficiency
MFA leads this category, winning 5 of 9 comparable metrics.
Profitability & Efficiency
MFA delivers a 7.4% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $6 for MITT. MFA carries lower financial leverage with a 6.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to MITT's 14.45x. On the Piotroski fundamental quality scale (0–9), MFA scores 5/9 vs MITT's 3/9, reflecting solid financial health.
| Metric | PMTPennyMac Mortgage… | MFAMFA Financial, In… | MITTTPG Mortgage Inve… |
|---|---|---|---|
| ROE (TTM)Return on equity | +7.1% | +7.4% | +6.1% |
| ROA (TTM)Return on assets | +0.7% | +1.1% | +0.4% |
| ROICReturn on invested capital | +0.4% | +4.4% | +4.5% |
| ROCEReturn on capital employed | +0.9% | +5.8% | +6.5% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 | 3 |
| Debt / EquityFinancial leverage | 10.12x | 6.01x | 14.45x |
| Net DebtTotal debt minus cash | $18.8B | $10.8B | $8.0B |
| Cash & Equiv.Liquid assets | $272M | $213M | $76M |
| Total DebtShort + long-term debt | $19.1B | $11.0B | $8.1B |
| Interest CoverageEBIT ÷ Interest expense | 0.11x | 1.34x | 1.12x |
MFA leads this category, winning 5 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
MITT leads this category, winning 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in PMT five years ago would be worth $9,850 today (with dividends reinvested), compared to $9,459 for MITT. Over the past 12 months, MITT leads with a +36.1% total return vs PMT's +0.1%. The 3-year compound annual growth rate (CAGR) favors MITT at 23.6% vs MFA's 10.3% — a key indicator of consistent wealth creation.
| Metric | PMTPennyMac Mortgage… | MFAMFA Financial, In… | MITTTPG Mortgage Inve… |
|---|---|---|---|
| YTD ReturnYear-to-date | -9.6% | +6.3% | -5.0% |
| 1-Year ReturnPast 12 months | +0.1% | +19.5% | +36.1% |
| 3-Year ReturnCumulative with dividends | +35.6% | +34.3% | +88.8% |
| 5-Year ReturnCumulative with dividends | -1.5% | -1.6% | -5.4% |
| 10-Year ReturnCumulative with dividends | +106.3% | +9.0% | -15.9% |
| CAGR (3Y)Annualised 3-year return | +10.7% | +10.3% | +23.6% |
MITT leads this category, winning 3 of 6 comparable metrics.
Risk & Volatility
Evenly matched — PMT and MFA each lead in 1 of 2 comparable metrics.
Risk & Volatility
PMT is the less volatile stock with a 0.71 beta — it tends to amplify market swings less than MITT's 0.90 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MFA currently trades 92.4% from its 52-week high vs PMT's 79.9% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | PMTPennyMac Mortgage… | MFAMFA Financial, In… | MITTTPG Mortgage Inve… |
|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.71x | 0.77x | 0.90x |
| 52-Week HighHighest price in past year | $13.81 | $10.57 | $9.27 |
| 52-Week LowLowest price in past year | $10.91 | $8.78 | $6.33 |
| % of 52W HighCurrent price vs 52-week peak | +79.9% | +92.4% | +85.1% |
| RSI (14)Momentum oscillator 0–100 | 53.8 | 37.6 | 51.5 |
| Avg Volume (50D)Average daily shares traded | 1.1M | 1.4M | 280K |
Evenly matched — PMT and MFA each lead in 1 of 2 comparable metrics.
Analyst Outlook
MFA leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: PMT as "Buy", MFA as "Hold", MITT as "Buy". Consensus price targets imply 36.0% upside for PMT (target: $15) vs 4.9% for MFA (target: $10). For income investors, MFA offers the higher dividend yield at 18.32% vs MITT's 9.98%.
| Metric | PMTPennyMac Mortgage… | MFAMFA Financial, In… | MITTTPG Mortgage Inve… |
|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold | Buy |
| Price TargetConsensus 12-month target | $15.00 | $10.25 | $9.63 |
| # AnalystsCovering analysts | 26 | 22 | 18 |
| Dividend YieldAnnual dividend ÷ price | +14.5% | +18.3% | +10.0% |
| Dividend StreakConsecutive years of raises | 0 | 1 | 1 |
| Dividend / ShareAnnual DPS | $1.60 | $1.79 | $0.79 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +1.5% | 0.0% |
MFA leads this category, winning 2 of 2 comparable metrics.
Key Takeaway
MFA leads in 3 of 6 categories (Income & Cash Flow, Profitability & Efficiency). MITT leads in 2 (Valuation Metrics, Total Returns). 1 tied.
Best OverallMFA Financial, Inc. (MFA)Leads 3 of 6 categories
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PMT vs MFA vs MITT: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is PMT or MFA or MITT a better buy right now?
For growth investors, MFA Financial, Inc.
(MFA) is the stronger pick with 213. 0% revenue growth year-over-year, versus 14. 4% for TPG Mortgage Investment Trust Inc (MITT). MFA Financial, Inc. (MFA) offers the better valuation at 5. 8x trailing P/E (7. 1x forward), making it the more compelling value choice. Analysts rate PennyMac Mortgage Investment Trust (PMT) a "Buy" — based on 26 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — PMT or MFA or MITT?
On trailing P/E, MFA Financial, Inc.
(MFA) is the cheapest at 5. 8x versus PennyMac Mortgage Investment Trust at 11. 1x. On forward P/E, PennyMac Mortgage Investment Trust is actually cheaper at 7. 1x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — PMT or MFA or MITT?
Over the past 5 years, PennyMac Mortgage Investment Trust (PMT) delivered a total return of -1.
5%, compared to -5. 4% for TPG Mortgage Investment Trust Inc (MITT). Over 10 years, the gap is even starker: PMT returned +106. 3% versus MITT's -15. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — PMT or MFA or MITT?
By beta (market sensitivity over 5 years), PennyMac Mortgage Investment Trust (PMT) is the lower-risk stock at 0.
71β versus TPG Mortgage Investment Trust Inc's 0. 90β — meaning MITT is approximately 26% more volatile than PMT relative to the S&P 500. On balance sheet safety, MFA Financial, Inc. (MFA) carries a lower debt/equity ratio of 6% versus 14% for TPG Mortgage Investment Trust Inc — giving it more financial flexibility in a downturn.
05Which is growing faster — PMT or MFA or MITT?
By revenue growth (latest reported year), MFA Financial, Inc.
(MFA) is pulling ahead at 213. 0% versus 14. 4% for TPG Mortgage Investment Trust Inc (MITT). On earnings-per-share growth, the picture is similar: MFA Financial, Inc. grew EPS 104. 9% year-over-year, compared to -27. 7% for PennyMac Mortgage Investment Trust. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — PMT or MFA or MITT?
MFA Financial, Inc.
(MFA) is the more profitable company, earning 20. 2% net margin versus 10. 3% for TPG Mortgage Investment Trust Inc — meaning it keeps 20. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MITT leads at 96. 9% versus 9. 1% for PMT. At the gross margin level — before operating expenses — MFA leads at 96. 2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is PMT or MFA or MITT more undervalued right now?
On forward earnings alone, PennyMac Mortgage Investment Trust (PMT) trades at 7.
1x forward P/E versus 7. 2x for TPG Mortgage Investment Trust Inc — 0. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for PMT: 36. 0% to $15. 00.
08Which pays a better dividend — PMT or MFA or MITT?
All stocks in this comparison pay dividends.
MFA Financial, Inc. (MFA) offers the highest yield at 18. 3%, versus 10. 0% for TPG Mortgage Investment Trust Inc (MITT).
09Is PMT or MFA or MITT better for a retirement portfolio?
For long-horizon retirement investors, PennyMac Mortgage Investment Trust (PMT) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.
71), 14. 5% yield, +106. 3% 10Y return). Both have compounded well over 10 years (PMT: +106. 3%, MITT: -15. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between PMT and MFA and MITT?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: PMT is a small-cap high-growth stock; MFA is a small-cap high-growth stock; MITT is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(PMT: -98.2% · MFA: 118.9%)Net Margin>
%
(PMT: 13.8% · MFA: 20.7%)P/E Ratio<
x
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