Zacks Investment Research Upgrades Great Ajax (NYSE:AJX) to “Hold”

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

Shares of NYSE AJX opened at $13.77 on Monday. The firm’s 50 day simple moving average is $13.34. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.42 and a quick ratio of 2.42. The company has a market capitalization of $262.66 million, a price-to-earnings ratio of 9.62 and a beta of 0.81. Great Ajax has a 12-month low of $11.56 and a 12-month high of $14.37.

Great Ajax (NYSE:AJX) last announced its earnings results on Tuesday, May 7th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.04). The business had revenue of $15.18 million for the quarter, compared to the consensus estimate of $15.48 million. Great Ajax had a net margin of 47.79% and a return on equity of 8.65%. Analysts predict that Great Ajax will post 1.57 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in Great Ajax by 43.8% in the fourth quarter. Rhumbline Advisers now owns 22,654 shares of the real estate investment trust’s stock valued at $273,000 after acquiring an additional 6,898 shares during the last quarter. Prudential Financial Inc. bought a new position in Great Ajax in the fourth quarter valued at approximately $148,000. First Trust Advisors LP increased its stake in Great Ajax by 18.9% in the fourth quarter. First Trust Advisors LP now owns 30,250 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 4,806 shares during the last quarter. New York State Common Retirement Fund increased its stake in Great Ajax by 11.3% in the fourth quarter. New York State Common Retirement Fund now owns 14,800 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 1,500 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Great Ajax by 0.5% in the fourth quarter. BlackRock Inc. now owns 1,238,026 shares of the real estate investment trust’s stock valued at $14,917,000 after acquiring an additional 5,981 shares during the last quarter. Institutional investors own 73.53% 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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