StockNews.com Begins Coverage on Great Ajax (NYSE:AJX)

StockNews.com initiated coverage on shares of Great Ajax (NYSE:AJX – Get Rating) in a report published on Thursday. The brokerage issued a hold rating on the real estate investment trust’s stock.

AJX has been the topic of several other research reports. Raymond James cut their price target on Great Ajax from $11.00 to $10.50 and set an outperform rating on the stock in a research note on Monday, March 13th. B. Riley cut their target price on shares of Great Ajax from $14.00 to $12.00 and set a buy rating on the stock in a research report on Wednesday, March 8th. Finally, TheStreet cut shares of Great Ajax from a c- rating to a d rating in a research report on Friday, November 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $12.38.

Great Ajax Stock Down 6.6 %

NYSE:AJX opened at $5.94 on Thursday. The company has a market cap of $137.39 million, a price-to-earnings ratio of -4.71 and a beta of 1.80. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.86 and a current ratio of 1.86. The stock’s fifty day moving average price is $8.29 and its two-hundred day moving average price is $8.10. Great Ajax has a 52-week low of $5.91 and a 52-week high of $11.78.

Great Ajax Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a $0.25 dividend. The ex-dividend date is Thursday, March 16th. This represents a $1.00 dividend on an annualized basis and a yield of 16.84%. Great Ajax’s dividend payout ratio is presently -85.71%.

Hedge Funds Weigh In On Great Ajax

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in shares of Great Ajax by 194.1% in the 4th quarter. Wells Fargo & Company MN now owns 4,856 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 3,205 shares during the last quarter. Raymond James & Associates increased its stake in Great Ajax by 18.2% in the fourth quarter. Raymond James & Associates now owns 93,455 shares of the real estate investment trust’s stock valued at $678,000 after purchasing an additional 14,386 shares in the last quarter. EMG Holdings L.P. raised its holdings in Great Ajax by 29.0% in the fourth quarter. EMG Holdings L.P. now owns 273,983 shares of the real estate investment trust’s stock worth $1,986,000 after purchasing an additional 61,579 shares during the period. Camelot Portfolios LLC boosted its position in shares of Great Ajax by 4.0% during the fourth quarter. Camelot Portfolios LLC now owns 45,166 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 1,723 shares in the last quarter. Finally, Claybrook Capital LLC grew its holdings in shares of Great Ajax by 72.7% in the 4th quarter. Claybrook Capital LLC now owns 58,552 shares of the real estate investment trust’s stock valued at $425,000 after buying an additional 24,650 shares during the period. Institutional investors own 74.63% of the company’s stock.

About Great Ajax

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Great Ajax is an externally managed real estate investment trust (REIT) that acquires, invests, and manages a portfolio of mortgage loans secured by single-family residences and single-family properties.