Great Ajax Corp (NYSE:AJX) declared a quarterly dividend on Thursday, February 22nd, Wall Street Journal reports. Investors of record on Thursday, March 15th will be given a dividend of 0.30 per share by the real estate investment trust on Friday, March 30th. This represents a $1.20 dividend on an annualized basis and a yield of 9.22%. The ex-dividend date is Wednesday, March 14th.
Great Ajax has a dividend payout ratio of 74.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Great Ajax to earn $1.86 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 64.5%.
Great Ajax (AJX) opened at $13.02 on Friday. The stock has a market capitalization of $238.01, a PE ratio of 8.41 and a beta of 0.72. Great Ajax has a fifty-two week low of $12.27 and a fifty-two week high of $15.40. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 2.03.
AJX has been the topic of a number of research analyst reports. Zacks Investment Research lowered Great Ajax from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Compass Point raised Great Ajax from a “neutral” rating to a “buy” rating in a report on Wednesday, November 8th. TheStreet raised Great Ajax from a “d” rating to a “c+” rating in a report on Monday, February 12th. Finally, B. Riley reaffirmed a “buy” rating on shares of Great Ajax in a report on Wednesday, November 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $15.17.
A hedge fund recently raised its stake in Great Ajax stock. State Street Corp increased its stake in Great Ajax Corp (NYSE:AJX) by 14.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 213,596 shares of the real estate investment trust’s stock after purchasing an additional 26,212 shares during the quarter. State Street Corp owned approximately 1.21% of Great Ajax worth $2,989,000 as of its most recent filing with the Securities and Exchange Commission. 72.51% of the stock is currently owned by hedge funds and other institutional investors.
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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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