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

Zacks Investment Research cut shares of Great Ajax (NYSE:AJX) from a buy rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

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. “

Separately, Piper Jaffray Companies set a $15.00 price target on Great Ajax and gave the stock a buy rating in a research report on Wednesday, August 7th.

NYSE:AJX traded up $0.09 during trading hours on Friday, reaching $15.51. 493,107 shares of the stock were exchanged, compared to its average volume of 97,910. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 1.81. The firm has a 50 day simple moving average of $15.52 and a 200-day simple moving average of $14.39. Great Ajax has a 52 week low of $11.56 and a 52 week high of $15.96. The stock has a market capitalization of $304.34 million, a P/E ratio of 10.62 and a beta of 0.78.

Great Ajax (NYSE:AJX) last released its earnings results on Tuesday, November 5th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). Great Ajax had a return on equity of 8.15% and a net margin of 53.22%. The firm had revenue of $15.32 million for the quarter, compared to the consensus estimate of $14.93 million. As a group, analysts expect that Great Ajax will post 1.48 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Saturday, November 16th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, November 14th. Great Ajax’s payout ratio is 87.67%.

Several institutional investors have recently made changes to their positions in AJX. BlackRock Inc. raised its position in shares of Great Ajax by 10.4% during the 2nd quarter. BlackRock Inc. now owns 1,366,050 shares of the real estate investment trust’s stock worth $19,126,000 after purchasing an additional 128,172 shares during the period. Creative Planning acquired a new stake in shares of Great Ajax during the 3rd quarter worth approximately $1,144,000. Navellier & Associates Inc acquired a new stake in shares of Great Ajax during the 3rd quarter worth approximately $1,081,000. Vanguard Group Inc. raised its position in shares of Great Ajax by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 996,032 shares of the real estate investment trust’s stock worth $13,944,000 after purchasing an additional 38,571 shares during the period. Finally, Chicago Equity Partners LLC acquired a new stake in shares of Great Ajax during the 3rd quarter worth approximately $462,000. Institutional investors and hedge funds own 73.21% of the company’s stock.

Great Ajax Company Profile

Great Ajax Corp. acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans. It also holds real estate-owned properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases. The company elected to be taxed as a real estate investment trust for U.S.

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