Great Ajax Corp. (AJX) Now Covered by Analysts at Raymond James Financial Inc.
Raymond James Financial Inc. initiated coverage on shares of Great Ajax Corp. (NYSE:AJX) in a research note published on Tuesday morning. The brokerage issued an outperform rating and a $16.00 price objective on the real estate investment trust’s stock.
A number of other research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Great Ajax Corp. from a hold rating to a strong-buy rating and set a $17.00 target price for the company in a research note on Tuesday, July 26th. FBR & Co reissued an outperform rating and set a $18.00 target price on shares of Great Ajax Corp. in a research note on Thursday, August 4th. JMP Securities initiated coverage on shares of Great Ajax Corp. in a research note on Thursday, October 20th. They set a mkt outperform rating and a $16.00 target price for the company. Finally, Nomura lowered shares of Great Ajax Corp. from a buy rating to a neutral rating and reduced their target price for the company from $16.00 to $14.50 in a research note on Wednesday, November 9th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $16.08.
Great Ajax Corp. (NYSE:AJX) opened at 13.44 on Tuesday. The stock’s 50 day moving average is $13.69 and its 200-day moving average is $13.71. Great Ajax Corp. has a 52 week low of $9.06 and a 52 week high of $14.48. The stock has a market capitalization of $243.52 million, a PE ratio of 7.24 and a beta of 1.06.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.44%. The ex-dividend date is Monday, November 14th. Great Ajax Corp.’s dividend payout ratio is presently 53.48%.
A number of hedge funds have recently added to or reduced their stakes in AJX. FMR LLC raised its stake in Great Ajax Corp. by 204.0% in the second quarter. FMR LLC now owns 1,545,413 shares of the real estate investment trust’s stock valued at $21,435,000 after buying an additional 1,037,087 shares in the last quarter. BlackRock Fund Advisors raised its stake in Great Ajax Corp. by 224.3% in the second quarter. BlackRock Fund Advisors now owns 656,900 shares of the real estate investment trust’s stock valued at $9,111,000 after buying an additional 454,315 shares in the last quarter. RMB Capital Management LLC acquired a new stake in Great Ajax Corp. during the second quarter valued at approximately $5,587,000. Alliancebernstein L.P. raised its stake in Great Ajax Corp. by 22.8% in the second quarter. Alliancebernstein L.P. now owns 1,051,333 shares of the real estate investment trust’s stock valued at $14,582,000 after buying an additional 195,241 shares in the last quarter. Finally, Ativo Capital Management LLC acquired a new stake in Great Ajax Corp. during the second quarter valued at approximately $1,418,000. 73.64% of the stock is owned by institutional investors and hedge funds.
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About Great Ajax Corp.
Great Ajax Corp. is an externally managed real estate company. The Company is focused on acquiring, investing in and managing a portfolio of re-performing and non-performing mortgage loans secured by single-family residences and single-family properties. Its segment is focused on non-performing mortgages and re-performing mortgages.
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