Brokerages Set Great Ajax Corp. (NYSE:AJX) PT at $13.50

Great Ajax Corp. (NYSE:AJX – Get Rating) has been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.50.

Several research firms recently issued reports on AJX. StockNews.com initiated coverage on shares of Great Ajax in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Raymond James cut their price target on shares of Great Ajax from $14.50 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, October 18th. TheStreet lowered shares of Great Ajax from a “c-” rating to a “d” rating in a report on Friday, November 25th. Finally, B. Riley dropped their target price on shares of Great Ajax from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, October 25th.

Insider Activity at Great Ajax

In related news, CFO Mary B. Doyle sold 3,612 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $7.56, for a total value of $27,306.72. Following the completion of the sale, the chief financial officer now owns 95,759 shares of the company’s stock, valued at $723,938.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Great Ajax

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in Great Ajax by 25.8% in the third quarter. BlackRock Inc. now owns 1,315,860 shares of the real estate investment trust’s stock valued at $9,882,000 after buying an additional 269,557 shares during the last quarter. Vanguard Group Inc. lifted its position in Great Ajax by 7.4% in the third quarter. Vanguard Group Inc. now owns 977,413 shares of the real estate investment trust’s stock valued at $7,340,000 after buying an additional 67,179 shares during the last quarter. Almitas Capital LLC lifted its position in Great Ajax by 2.0% in the third quarter. Almitas Capital LLC now owns 664,619 shares of the real estate investment trust’s stock valued at $4,991,000 after buying an additional 13,291 shares during the last quarter. State Street Corp lifted its position in Great Ajax by 67.7% in the first quarter. State Street Corp now owns 623,080 shares of the real estate investment trust’s stock valued at $7,309,000 after buying an additional 251,443 shares during the last quarter. Finally, Beach Point Capital Management LP lifted its position in Great Ajax by 16.4% in the second quarter. Beach Point Capital Management LP now owns 334,280 shares of the real estate investment trust’s stock valued at $3,206,000 after buying an additional 46,995 shares during the last quarter. Hedge funds and other institutional investors own 74.63% of the company’s stock.

Great Ajax Stock Performance

AJX opened at $8.71 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.89 and a quick ratio of 1.89. The firm has a fifty day moving average price of $7.77 and a 200 day moving average price of $8.59. Great Ajax has a 1 year low of $7.02 and a 1 year high of $13.14. The stock has a market cap of $199.40 million, a P/E ratio of -13.61 and a beta of 1.72.

Great Ajax Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 29th. Investors of record on Tuesday, November 15th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.40%. The ex-dividend date of this dividend was Monday, November 14th. Great Ajax’s dividend payout ratio is currently -168.75%.

Great Ajax Company Profile

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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.