Moussa81Co-produced by Austin Rogers About a year ago, we performed a broad analysis of commercial mortgage REITs to see if we could find any compelling value. While the spread-based business model of residential mREITs is unappealing to us and has resulted in poor long-term returns, commercial property mREITs have better records, to varying degrees. On a total return basis, only one commercial mREIT has underperformed the VanEck Mortgage REIT Income ETF (MORT), which is heavily weighted toward resident ...