These 3 mortgage REITs have yields of over 13% and are trading for much less than their value – Brightspire Capital (NYSE: BRSP), Great Ajax (NYSE: AJX)

VanEck Mortgage REIT Income ETF whore is down nearly 31% year-to-date, as a series of interest rate hikes by the Federal Reserve jolted real estate-related industries. Mortgage REITs allow investors to participate in the real estate market without owning physical assets. Investors have the opportunity to profit from the interest generated from the properties, and real estate investment trusts are required to distribute at least 90% of their income.

As per SP Global report, the mortgage real estate investment trust (REIT) boasts of a five-year average dividend yield of 10.8% as of September 30, 2019, which is the highest yield among various REIT sectors. Here are three dividend mortgage REITs with higher-than-average yields in the sector.

ALSO READ: 2 mortgage REITs with rising yields and short-term debt that outperformed with rising interest rates

great ajax corporation ajax Paying quarterly, offering a dividend yield of 13.85% or $1.08 per share annually, with a track record of increasing its dividend for two consecutive years. Great Ajax is an externally managed REIT that acquires, invests in and manages a portfolio of mortgage loans secured by single-family residences, single-family properties, multi-family residential and commercial mixed-use properties. REITs also hold real estate-owned (REO) properties acquired on foreclosures.

Great Ajax has net 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 With a track record of increasing its dividend once in the past year, it’s offering a dividend yield of 13.66%, or 96 cents per share, per year using quarterly payments. TPG RE Finance Trust is a commercial real estate finance company that lends more than $50 million in first-mortgage loans in the primary and select secondary markets throughout the United States.

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

Brightspire Capital Inc. BRSP Paying quarterly, with a track record of increasing its dividend once in the past year, is offering a dividend yield of 11.40%, or 80 cents per share, per year. Brightspire Capital is an internally managed commercial credit REIT focused primarily on the origination, acquisition, financing and management of a diversified portfolio of commercial real estate loans and net lease real estate investments in the United States.

Brightspire Capital has net assets of over $5.7 billion and a book value of $10.87 per share as of September 30, 2022.

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