Zacks Investment Research upgraded shares of Great Ajax (NYSE:AJX) from a hold rating to a buy rating in a report issued on Monday. They currently have $16.00 target price on the real estate investment trust’s stock.
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 research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Great Ajax from a hold rating to a buy rating in a research report on Wednesday, August 16th. B. Riley restated a buy rating on shares of Great Ajax in a research report on Wednesday, November 1st. Finally, Compass Point started coverage on shares of Great Ajax in a research note on Friday, September 29th. They issued a neutral rating and a $15.50 price objective for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Great Ajax currently has an average rating of Buy and a consensus target price of $15.17.
Great Ajax (NYSE:AJX) opened at $14.22 on Monday. The company has a debt-to-equity ratio of 2.03, a current ratio of 4.23 and a quick ratio of 4.23. The stock has a market cap of $260.64, a P/E ratio of 9.21 and a beta of 0.86. Great Ajax has a 12-month low of $12.72 and a 12-month high of $15.40.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 8.44%. The ex-dividend date was Thursday, November 16th. Great Ajax’s dividend payout ratio is 78.43%.
A number of institutional investors have recently bought and sold shares of AJX. FMR LLC boosted its stake in Great Ajax by 11.4% in the 2nd quarter. FMR LLC now owns 1,736,388 shares of the real estate investment trust’s stock worth $24,275,000 after purchasing an additional 177,662 shares during the period. Ares Management LLC acquired a new position in Great Ajax in the 2nd quarter worth approximately $1,367,000. Vanguard Group Inc. boosted its stake in Great Ajax by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 611,719 shares of the real estate investment trust’s stock worth $7,983,000 after purchasing an additional 78,399 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Great Ajax during the 3rd quarter valued at $664,000. Finally, Family Management Corp boosted its stake in shares of Great Ajax by 99.1% during the 2nd quarter. Family Management Corp now owns 75,602 shares of the real estate investment trust’s stock valued at $1,057,000 after buying an additional 37,623 shares during the period. 71.42% of the stock is owned by hedge funds and other institutional investors.
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Great Ajax 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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