Great Ajax Corp. (NYSE:AJX) Declares Dividend Increase – $0.27 Per Share

Great Ajax Corp. (NYSE:AJXGet Rating) announced a quarterly dividend on Thursday, August 4th, Zacks reports. Stockholders of record on Monday, August 15th will be paid a dividend of 0.27 per share by the real estate investment trust on Wednesday, August 31st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 10.66%. The ex-dividend date of this dividend is Friday, August 12th. This is a boost from Great Ajax’s previous quarterly dividend of $0.26.

Great Ajax has a dividend payout ratio of 74.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Great Ajax to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 74.8%.

Great Ajax Price Performance

Shares of Great Ajax stock opened at $10.13 on Friday. Great Ajax has a 52-week low of $8.68 and a 52-week high of $14.74. The stock has a market capitalization of $234.81 million, a price-to-earnings ratio of 22.51 and a beta of 1.74. The company has a fifty day moving average of $10.14 and a 200-day moving average of $10.71. The company has a debt-to-equity ratio of 1.72, a quick ratio of 2.19 and a current ratio of 2.19.

Great Ajax (NYSE:AJXGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.21). Great Ajax had a net margin of 33.63% and a return on equity of 8.96%. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Equities research analysts expect that Great Ajax will post 1.05 EPS for the current year.

Analysts Set New Price Targets

AJX has been the subject of a number of recent analyst reports. Compass Point upgraded shares of Great Ajax from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, May 17th. B. Riley lowered their price target on shares of Great Ajax from $18.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, July 21st. JMP Securities lowered their price target on shares of Great Ajax from $15.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, April 26th. Finally, StockNews.com lowered shares of Great Ajax from a “buy” rating to a “hold” rating in a report on Thursday.

Insider Buying and Selling

In related news, major shareholder Magnetar Financial Llc sold 200,000 shares of the stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $24.48, for a total value of $4,896,000.00. Following the completion of the transaction, the insider now directly owns 111,383 shares in the company, valued at approximately $2,726,655.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 1,200,000 shares of company stock worth $29,722,000 in the last three months. 6.00% of the stock is owned by corporate insiders.

Institutional Trading of Great Ajax

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Great Ajax by 2.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 57,853 shares of the real estate investment trust’s stock valued at $679,000 after acquiring an additional 1,545 shares during the last quarter. Invesco Ltd. increased its stake in shares of Great Ajax by 6.0% in the 1st quarter. Invesco Ltd. now owns 37,875 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 2,145 shares in the last quarter. MetLife Investment Management LLC increased its stake in Great Ajax by 54.3% in the 1st quarter. MetLife Investment Management LLC now owns 12,130 shares of the real estate investment trust’s stock worth $142,000 after buying an additional 4,270 shares in the last quarter. Renaissance Technologies LLC increased its stake in Great Ajax by 5.1% in the 1st quarter. Renaissance Technologies LLC now owns 165,248 shares of the real estate investment trust’s stock worth $1,938,000 after buying an additional 8,000 shares in the last quarter. Finally, Raymond James & Associates increased its stake in Great Ajax by 38.0% in the 1st quarter. Raymond James & Associates now owns 38,344 shares of the real estate investment trust’s stock worth $450,000 after buying an additional 10,566 shares in the last quarter. 80.85% of the stock is owned by hedge funds and other institutional investors.

Great Ajax Company Profile

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Great Ajax Corp., real estate company, acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans. The company also holds real estate owned properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases.

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Dividend History for Great Ajax (NYSE:AJX)

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