Great Ajax (AJX) Lifted to Buy at Zacks Investment Research

Great Ajax (NYSE:AJX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, December 22nd. The brokerage currently has a $16.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 16.03% from the stock’s previous close.

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. “

Several other research analysts also recently commented on AJX. 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 target price on the stock. B. Riley restated a “buy” rating on shares of Great Ajax in a report on Wednesday, November 1st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $15.17.

Great Ajax (NYSE:AJX) opened at $13.79 on Friday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 4.23 and a current ratio of 4.23. Great Ajax has a one year low of $12.72 and a one year high of $15.40. The company has a market cap of $252.97, a P/E ratio of 9.01 and a beta of 0.85.

Large investors have recently modified their holdings of the business. FMR LLC raised its position 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 buying an additional 177,662 shares during the last quarter. Northern Trust Corp raised its position in Great Ajax by 12.9% in the 2nd quarter. Northern Trust Corp now owns 176,039 shares of the real estate investment trust’s stock worth $2,461,000 after buying an additional 20,154 shares during the last quarter. Vanguard Group Inc. raised its position in Great Ajax by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 631,753 shares of the real estate investment trust’s stock worth $8,832,000 after buying an additional 20,034 shares during the last quarter. Teachers Advisors LLC raised its position in Great Ajax by 56.2% in the 2nd quarter. Teachers Advisors LLC now owns 29,039 shares of the real estate investment trust’s stock worth $406,000 after buying an additional 10,450 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in Great Ajax by 30.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 26,093 shares of the real estate investment trust’s stock worth $365,000 after buying an additional 6,014 shares during the last quarter. 71.42% of the stock is owned by institutional investors and hedge funds.

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About Great Ajax

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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