Great Ajax (NYSE:AJX) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Great Ajax (NYSE:AJXGet Rating) from a hold rating to a buy rating in a research note published on Tuesday morning, Zacks.com reports. They currently have $10.00 price target on the real estate investment trust’s stock.

According to Zacks, “Great Ajax Corp. is a Maryland corporation that is a real estate investment trust, that focuses primarily on acquiring, investing in and managing RPLs secured by single-family residences and commercial properties and, to a lesser extent, NPLs. They also originate and acquire loans secured by multi-family residential and smaller commercial mixed use retail/residential properties and acquire multi-family retail/residential and mixed use and commercial properties. “

A number of other analysts also recently commented on the company. Compass Point downgraded Great Ajax from a buy rating to a neutral rating and set a $11.00 price objective on the stock. in a research note on Friday, April 8th. JMP Securities cut their target price on Great Ajax from $15.00 to $11.00 and set a market outperform rating on the stock in a research report on Tuesday, April 26th. Finally, StockNews.com assumed coverage on Great Ajax in a research report on Thursday, March 31st. They set a hold rating on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $13.20.

AJX opened at $9.70 on Tuesday. Great Ajax has a one year low of $9.06 and a one year high of $14.74. The company has a quick ratio of 2.20, a current ratio of 2.20 and a debt-to-equity ratio of 1.76. The stock has a fifty day moving average price of $10.75. The company has a market cap of $225.12 million, a P/E ratio of 6.83 and a beta of 1.80.

Great Ajax (NYSE:AJXGet Rating) last posted its quarterly earnings data on Thursday, March 3rd. The real estate investment trust reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.05). Great Ajax had a return on equity of 10.30% and a net margin of 54.37%. During the same period in the prior year, the company posted $0.41 earnings per share. Research analysts expect that Great Ajax will post 1.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Friday, March 18th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, March 17th. This is a positive change from Great Ajax’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 10.72%. Great Ajax’s payout ratio is 73.24%.

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Great Ajax by 2.5% during the third quarter. Royal Bank of Canada now owns 45,694 shares of the real estate investment trust’s stock valued at $617,000 after buying an additional 1,116 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Great Ajax by 51.2% during the third quarter. BNP Paribas Arbitrage SA now owns 6,261 shares of the real estate investment trust’s stock valued at $84,000 after buying an additional 2,119 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Great Ajax by 6.2% during the third quarter. Invesco Ltd. now owns 38,355 shares of the real estate investment trust’s stock valued at $517,000 after buying an additional 2,256 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Great Ajax by 4.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,308 shares of the real estate investment trust’s stock valued at $742,000 after buying an additional 2,263 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Great Ajax by 6.0% during the fourth quarter. Citigroup Inc. now owns 69,463 shares of the real estate investment trust’s stock valued at $914,000 after buying an additional 3,908 shares in the last quarter. 80.85% of the stock is currently owned by institutional investors.

Great Ajax Company Profile (Get Rating)

Great Ajax Corp., real estate company, acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans. The company also holds real estate owned properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases.

Further Reading

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