Great Ajax (AJX) Rating Increased to Hold at Zacks Investment Research

Great Ajax (NYSE:AJX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, 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 traded up $0.04 during midday trading on Wednesday, reaching $14.19. 2,092 shares of the company’s stock traded hands, compared to its average volume of 33,106. Great Ajax has a 1 year low of $11.56 and a 1 year high of $14.37. The firm has a market capitalization of $266.83 million, a price-to-earnings ratio of 9.72 and a beta of 0.71. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.42 and a quick ratio of 2.42.



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 analysts’ consensus estimates of $0.40 by ($0.04). Great Ajax had a net margin of 47.79% and a return on equity of 8.65%. The business had revenue of $15.18 million for the quarter, compared to analysts’ expectations of $15.48 million. On average, sell-side analysts expect that Great Ajax will post 1.6 earnings per share for the current year.

Several large investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in Great Ajax by 35.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 109,124 shares of the real estate investment trust’s stock valued at $1,499,000 after purchasing an additional 28,820 shares during the last quarter. Northern Trust Corp boosted its holdings in Great Ajax by 1.2% in the first quarter. Northern Trust Corp now owns 187,833 shares of the real estate investment trust’s stock valued at $2,581,000 after purchasing an additional 2,304 shares during the last quarter. Citigroup Inc. boosted its holdings in Great Ajax by 58.6% in the first quarter. Citigroup Inc. now owns 3,973 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 1,468 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in Great Ajax by 14.0% in the first quarter. Pacific Ridge Capital Partners LLC now owns 351,918 shares of the real estate investment trust’s stock valued at $4,835,000 after purchasing an additional 43,102 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Great Ajax by 5.3% in the first quarter. Acadian Asset Management LLC now owns 31,597 shares of the real estate investment trust’s stock valued at $434,000 after purchasing an additional 1,602 shares during the last quarter. Hedge funds and other institutional investors own 71.37% of the company’s stock.

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.

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