Great Ajax Corp. (NYSE:AJX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $16.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.68% from the company’s current price.
According to Zacks, “Great Ajax Corp. is a real estate investment trust which acquires, invests and manages a portfolio of mortgage loans secured by single- family residences and single-family properties. The company invest in loans secured by multi-family residential and commercial mixed use retail/residential properties. It also hold real-estate owned properties acquired upon the foreclosure, other settlement of our owned non-performing loans. Great Ajax Corp. is based in Beaverton, Oregon. “
Other equities analysts have also recently issued research reports about the company. BidaskClub upgraded Great Ajax Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. Compass Point assumed coverage on Great Ajax Corp. in a report on Friday, September 29th. They issued a “neutral” rating and a $15.50 price objective for the company. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $15.33.
Shares of Great Ajax Corp. (AJX) opened at 14.20 on Tuesday. Great Ajax Corp. has a 12 month low of $12.61 and a 12 month high of $14.34. The firm has a market cap of $250.26 million, a PE ratio of 9.04 and a beta of 0.86. The firm has a 50 day moving average price of $14.11 and a 200-day moving average price of $14.11.
Great Ajax Corp. (NYSE:AJX) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.09). The company had revenue of $13.11 million during the quarter, compared to the consensus estimate of $12.99 million. Great Ajax Corp. had a net margin of 58.46% and a return on equity of 10.22%. On average, analysts predict that Great Ajax Corp. will post $1.78 EPS for the current fiscal year.
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A number of large investors have recently modified their holdings of AJX. American International Group Inc. lifted its stake in Great Ajax Corp. by 8.3% in the 1st quarter. American International Group Inc. now owns 8,067 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 619 shares during the last quarter. Nationwide Fund Advisors lifted its stake in Great Ajax Corp. by 16.3% in the 2nd quarter. Nationwide Fund Advisors now owns 9,600 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 1,347 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Great Ajax Corp. in the 2nd quarter valued at about $192,000. Wealthsource Partners LLC acquired a new stake in Great Ajax Corp. in the 2nd quarter valued at about $214,000. Finally, Teachers Advisors LLC lifted its stake in Great Ajax Corp. by 28.3% in the 4th quarter. Teachers Advisors LLC now owns 18,589 shares of the real estate investment trust’s stock valued at $247,000 after purchasing an additional 4,096 shares during the last quarter. Institutional investors and hedge funds own 75.26% of the company’s stock.
Great Ajax Corp. Company Profile
Great Ajax Corp. is an externally managed real estate company. The Company is focused on acquiring, investing in and managing a portfolio of re-performing and non-performing mortgage loans secured by single-family residences and single-family properties. Its segment is focused on non-performing mortgages and re-performing mortgages.
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