Family Management Corp boosted its holdings in shares of Great Ajax Corp (NYSE:AJX) by 86.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 170,055 shares of the real estate investment trust’s stock after acquiring an additional 78,846 shares during the quarter. Great Ajax accounts for about 1.6% of Family Management Corp’s investment portfolio, making the stock its 27th largest holding. Family Management Corp owned 0.93% of Great Ajax worth $2,350,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Great Ajax by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 631,753 shares of the real estate investment trust’s stock valued at $8,832,000 after buying an additional 20,034 shares during the last quarter. State Street Corp lifted its holdings in shares of Great Ajax by 14.0% during the 2nd quarter. State Street Corp now owns 213,596 shares of the real estate investment trust’s stock valued at $2,989,000 after buying an additional 26,212 shares during the last quarter. Pacific Ridge Capital Partners LLC acquired a new stake in shares of Great Ajax during the 4th quarter valued at about $2,945,000. Northern Trust Corp lifted its holdings in shares of Great Ajax by 12.9% during the 2nd quarter. Northern Trust Corp now owns 176,039 shares of the real estate investment trust’s stock valued at $2,461,000 after buying an additional 20,154 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Great Ajax by 88.1% during the 4th quarter. Deutsche Bank AG now owns 123,928 shares of the real estate investment trust’s stock valued at $1,711,000 after buying an additional 58,035 shares during the last quarter. Hedge funds and other institutional investors own 72.97% of the company’s stock.
AJX has been the subject of several research reports. Zacks Investment Research upgraded Great Ajax from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, December 22nd. TheStreet upgraded Great Ajax from a “d” rating to a “c+” rating in a report on Monday, February 12th. Finally, B. Riley reiterated a “buy” rating and set a $18.00 price target on shares of Great Ajax in a report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $16.50.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 9.03%. Great Ajax’s dividend payout ratio is 78.43%.
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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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