Great Ajax Corp. (AJX) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Great Ajax Corp. (NYSE:AJX) from a buy rating to a hold rating in a report released on Tuesday.

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. “

AJX has been the topic of several other reports. BidaskClub raised Great Ajax Corp. from a sell rating to a hold rating in a research report on Thursday, August 10th. Compass Point assumed coverage on Great Ajax Corp. in a research report on Friday, September 29th. They set a neutral rating and a $15.50 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Great Ajax Corp. has a consensus rating of Hold and a consensus price target of $15.20.

Shares of Great Ajax Corp. (AJX) traded down 0.9767% on Tuesday, hitting $14.0118. The stock had a trading volume of 17,108 shares. The firm has a 50 day moving average of $14.23 and a 200-day moving average of $14.06. Great Ajax Corp. has a 1-year low of $12.61 and a 1-year high of $15.40. The firm has a market capitalization of $246.94 million, a price-to-earnings ratio of 8.9247 and a beta of 0.86.

Great Ajax Corp. (NYSE:AJX) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.09). The firm had revenue of $13.11 million for the quarter, compared to the consensus estimate of $12.99 million. Great Ajax Corp. had a net margin of 58.46% and a return on equity of 10.22%. Equities analysts predict that Great Ajax Corp. will post $1.78 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of AJX. Russell Investments Group Ltd. boosted its position in Great Ajax Corp. by 62.7% during the 1st quarter. Russell Investments Group Ltd. now owns 20,079 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 7,740 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Great Ajax Corp. by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 67,313 shares of the real estate investment trust’s stock valued at $879,000 after acquiring an additional 2,525 shares in the last quarter. American International Group Inc. boosted its position in Great Ajax Corp. by 8.3% during the 1st quarter. American International Group Inc. now owns 8,067 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 619 shares in the last quarter. Vanguard Group Inc. boosted its position in Great Ajax Corp. by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 611,719 shares of the real estate investment trust’s stock valued at $7,983,000 after acquiring an additional 78,399 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new stake in Great Ajax Corp. during the 2nd quarter valued at approximately $451,000. 75.04% of the stock is currently owned by institutional investors and hedge funds.

Great Ajax Corp. 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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