Great Ajax Corp (AJX) Plans Quarterly Dividend of $0.32

Great Ajax Corp (NYSE:AJX) declared a quarterly dividend on Tuesday, April 30th, NASDAQ reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.32 per share by the real estate investment trust on Friday, May 31st. This represents a $1.28 annualized dividend and a yield of 9.03%. The ex-dividend date is Thursday, May 16th.

Great Ajax has increased its dividend payment by an average of 24.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Great Ajax has a payout ratio of 79.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Great Ajax to earn $1.69 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 75.7%.

Great Ajax stock traded up $0.10 on Friday, hitting $14.18. 30,246 shares of the stock traded hands, compared to its average volume of 32,913. The company has a current ratio of 2.42, a quick ratio of 2.56 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $269.00 million, a P/E ratio of 9.71 and a beta of 0.71. Great Ajax has a 1 year low of $11.56 and a 1 year high of $14.37.

Great Ajax (NYSE:AJX) last posted its quarterly 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 company had revenue of $15.18 million during the quarter, compared to analysts’ expectations of $15.48 million. Great Ajax had a return on equity of 8.65% and a net margin of 47.79%. Analysts predict that Great Ajax will post 1.65 earnings per share for the current year.

A hedge fund recently raised its stake in Great Ajax stock. Geode Capital Management LLC lifted its stake in Great Ajax Corp (NYSE:AJX) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,161 shares of the real estate investment trust’s stock after purchasing an additional 10,981 shares during the quarter. Geode Capital Management LLC owned 0.79% of Great Ajax worth $1,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 71.35% of the company’s stock.

Separately, Zacks Investment Research lowered Great Ajax from a “hold” rating to a “strong sell” rating in a research report on Friday, January 11th.

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About Great Ajax

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.

Further Reading: Quiet Period Expirations

Dividend History for Great Ajax (NYSE:AJX)

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