Great Ajax (AJX) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Great Ajax (NYSE:AJX) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

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. “

A number of other equities analysts have also commented on the stock. Compass Point lowered shares of Great Ajax from a buy rating to a neutral rating in a research report on Wednesday, May 2nd. ValuEngine lowered shares of Great Ajax from a buy rating to a hold rating in a research report on Wednesday, May 2nd. B. Riley restated a buy rating and issued a $18.00 price objective on shares of Great Ajax in a research report on Wednesday, March 7th. Finally, TheStreet upgraded shares of Great Ajax from a d rating to a c+ rating in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $16.17.

Great Ajax opened at $13.20 on Wednesday, according to MarketBeat. The stock has a market capitalization of $247.94 million, a PE ratio of 8.96 and a beta of 0.62. The company has a debt-to-equity ratio of 2.39, a current ratio of 4.74 and a quick ratio of 4.74. Great Ajax has a twelve month low of $12.27 and a twelve month high of $15.40.

Great Ajax (NYSE:AJX) last posted its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.05). The business had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $14.79 million. Great Ajax had a return on equity of 9.40% and a net margin of 50.44%. equities research analysts anticipate that Great Ajax will post 1.75 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 30th. Stockholders of record on Tuesday, May 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.09%. Great Ajax’s dividend payout ratio (DPR) is currently 76.43%.

Several hedge funds have recently added to or reduced their stakes in AJX. Schwab Charles Investment Management Inc. boosted its position in shares of Great Ajax by 36.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 27,000 shares of the real estate investment trust’s stock valued at $374,000 after acquiring an additional 7,200 shares during the period. Wells Fargo & Company MN boosted its position in shares of Great Ajax by 21.1% in the fourth quarter. Wells Fargo & Company MN now owns 47,682 shares of the real estate investment trust’s stock valued at $659,000 after acquiring an additional 8,312 shares during the period. Pacific Ridge Capital Partners LLC bought a new position in shares of Great Ajax in the fourth quarter valued at approximately $2,945,000. Renaissance Technologies LLC boosted its position in shares of Great Ajax by 79.9% in the fourth quarter. Renaissance Technologies LLC now owns 97,500 shares of the real estate investment trust’s stock valued at $1,347,000 after acquiring an additional 43,300 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Great Ajax by 88.1% in the fourth quarter. Deutsche Bank AG now owns 123,928 shares of the real estate investment trust’s stock valued at $1,711,000 after acquiring an additional 58,035 shares during the period. Institutional investors own 71.60% of the company’s stock.

Great Ajax Company Profile

Great Ajax Corp. operates as an real estate investment trust. It acquires, invests and manages a portfolio of mortgage loans secured by single- family residences and single-family properties. It holds real-estate owned properties acquired upon the foreclosure, other settlement of owned non-performing loans, or that acquires in the market.

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