Great Ajax (AJX) Upgraded to “Buy” by Zacks Investment Research

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.

Shares of Great Ajax (AJX) opened at $14.28 on Monday. The firm has a market capitalization of $262.28, a price-to-earnings ratio of 9.27 and a beta of 0.86. Great Ajax has a twelve month low of $12.72 and a twelve month high of $15.40. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 2.03.

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.

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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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