Great Ajax (NYSE:AJX) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Great Ajax (NYSE:AJX – Get Rating) from a hold rating to a sell rating in a research report report published on Tuesday morning, Zacks.com reports.

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. “

Other analysts also recently issued research reports about 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 dropped their price objective on Great Ajax from $15.00 to $11.00 and set a market outperform rating for the company in a 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 for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Buy and an average price target of $13.20.

Shares of AJX opened at $9.38 on Tuesday. The firm has a market cap of $217.47 million, a PE ratio of 7.39 and a beta of 1.80. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.72. The firm has a fifty day simple moving average of $10.36 and a two-hundred day simple moving average of $12.02. Great Ajax has a 1-year low of $8.68 and a 1-year high of $14.74.

Great Ajax (NYSE:AJX – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.21). Great Ajax had a net margin of 53.18% and a return on equity of 9.55%. During the same quarter in the prior year, the company posted $0.30 EPS. As a group, research analysts forecast that Great Ajax will post 1.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 11.09%. The ex-dividend date of this dividend is Friday, May 13th. Great Ajax’s payout ratio is presently 81.89%.

Several hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY purchased a new stake in shares of Great Ajax in the 3rd quarter valued at approximately $80,000. BNP Paribas Arbitrage SA grew its stake in shares of Great Ajax by 51.2% in the third quarter. BNP Paribas Arbitrage SA now owns 6,261 shares of the real estate investment trust’s stock worth $84,000 after acquiring an additional 2,119 shares in the last quarter. Barclays PLC grew its stake in shares of Great Ajax by 227.0% in the third quarter. Barclays PLC now owns 8,972 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 6,228 shares in the last quarter. Voya Investment Management LLC acquired a new position in shares of Great Ajax during the third quarter worth $148,000. Finally, MetLife Investment Management LLC grew its stake in shares of Great Ajax by 54.3% during the first quarter. MetLife Investment Management LLC now owns 12,130 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 4,270 shares in the last quarter. 80.85% of the stock is currently owned by hedge funds and other institutional investors.

About Great Ajax (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.

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