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

Zacks Investment Research downgraded shares of Great Ajax (NYSE:AJX) from a hold rating to a sell rating in a research report sent to investors on Tuesday, 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. “

Several other research analysts also recently weighed in on the company. TheStreet upgraded Great Ajax from a d+ rating to a c rating in a report on Thursday, August 20th. ValuEngine downgraded Great Ajax from a hold rating to a sell rating in a report on Monday, August 3rd. Finally, Raymond James reiterated a buy rating on shares of Great Ajax in a report on Friday, August 21st. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $13.50.

AJX stock opened at $9.20 on Tuesday. The stock’s 50 day moving average price is $9.45 and its 200 day moving average price is $8.63. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.02 and a current ratio of 3.02. The firm has a market cap of $210.91 million, a P/E ratio of 9.58 and a beta of 1.58. Great Ajax has a 1 year low of $3.96 and a 1 year high of $15.96.

Great Ajax (NYSE:AJX) last issued its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. Great Ajax had a return on equity of 6.36% and a net margin of 39.56%. On average, research analysts predict that Great Ajax will post 0.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Friday, August 14th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, August 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 7.39%. Great Ajax’s payout ratio is 45.03%.

Several hedge funds have recently added to or reduced their stakes in AJX. Pacific Ridge Capital Partners LLC increased its holdings in Great Ajax by 22.3% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 607,743 shares of the real estate investment trust’s stock valued at $5,591,000 after purchasing an additional 110,878 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Great Ajax by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 75,011 shares of the real estate investment trust’s stock valued at $477,000 after purchasing an additional 3,772 shares in the last quarter. BlackRock Inc. increased its holdings in Great Ajax by 1.4% in the 1st quarter. BlackRock Inc. now owns 1,729,602 shares of the real estate investment trust’s stock valued at $11,001,000 after purchasing an additional 24,286 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in Great Ajax by 321.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 79,414 shares of the real estate investment trust’s stock valued at $505,000 after purchasing an additional 60,570 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in Great Ajax by 87.6% in the 1st quarter. Citigroup Inc. now owns 6,482 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 3,026 shares in the last quarter. Institutional investors and hedge funds own 71.08% 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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