That VanEck Mortgage REIT Income ETF MORT is down about 31% year-to-date as a string of rate hikes by the Federal Reserve sent a shock through the housing-related industries. Mortgage REITs allow investors to enter the real estate market without owning the physical property. Investors have the opportunity to benefit from the interest generated by real estate, and real estate funds have to pay out at least 90% of their income.

Mortgage real estate investment trusts (REITs) have a five-year average dividend yield of 10.8%, the highest yield from any REIT sector as of September 30, 2019, SP Global reported. Here are three dividend-paying mortgage REITs with yields that are above the industry average.

Also read: 2 Mortgage REITs with rising yields and short-term loans that do better when interest rates rise

Big Ajax Corporation AJX offers a dividend yield of 13.85%, or $1.08 per share annually, makes quarterly payments and has grown its dividends for two straight years. Great Ajax is an externally managed REIT that acquires, invests and manages a portfolio of mortgage loans backed by single-family homes, single-family homes, multi-family homes and mixed-use commercial properties. The REIT also holds real estate owned (REO) properties acquired in foreclosure.

Great Ajax has total assets of over $1.5 billion and a book value of $13.75 per share as of September 30, 2022.

TPG RE Finance Trust Inc. TRTX offers a dividend yield of 13.66%, or 96 cents per share annually on quarterly payments, with a track record of a one-time increase in its dividends over the past year. TPG RE Finance Trust is a commercial real estate finance company originating more than $50 million in primary and select secondary mortgage lending in the United States.

TPG has total assets of over $5.3 billion and book value of $14.28 per share as of September 30, 2022.

BrightSpire Capital…