Zacks Investment Research upgraded shares of Great Ajax (NYSE:AJX) from a hold rating to a buy rating in a research report report published on Monday morning. Zacks Investment Research currently has $16.00 target price on the real estate investment trust’s stock.
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 a number of other research reports. BidaskClub raised Great Ajax from a hold rating to a buy rating in a report on Wednesday, August 16th. Compass Point began coverage on Great Ajax in a report on Friday, September 29th. They issued a neutral rating and a $15.50 target price on the stock. Finally, B. Riley reissued a buy rating on shares of Great Ajax in a report on Wednesday, November 1st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $15.17.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.40%. The ex-dividend date of this dividend was Thursday, November 16th. Great Ajax’s payout ratio is presently 78.43%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Family Management Corp lifted its holdings in Great Ajax by 20.6% during the 3rd quarter. Family Management Corp now owns 91,209 shares of the real estate investment trust’s stock worth $1,285,000 after buying an additional 15,607 shares during the period. JPMorgan Chase & Co. acquired a new position in Great Ajax during the 3rd quarter worth about $664,000. Cambridge Investment Research Advisors Inc. lifted its holdings in Great Ajax by 27.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 17,580 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 3,815 shares during the period. Wasatch Advisors Inc. lifted its holdings in Great Ajax by 13.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 64,400 shares of the real estate investment trust’s stock worth $900,000 after buying an additional 7,500 shares during the period. Finally, Wealthsource Partners LLC bought a new position in shares of Great Ajax in the 2nd quarter worth about $214,000. 71.42% of the stock is currently owned by hedge funds and other institutional investors.
Great Ajax 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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