Great Ajax Corp. (NYSE:AJX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Separately, BidaskClub upgraded shares of Great Ajax Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $15.30.

Shares of Great Ajax Corp. (NYSE AJX) traded up 0.07% during midday trading on Wednesday, reaching $14.25. 49,469 shares of the company’s stock traded hands. The firm has a market cap of $251.14 million, a PE ratio of 9.08 and a beta of 0.88. The stock has a 50-day moving average price of $14.13 and a 200 day moving average price of $13.66. Great Ajax Corp. has a 12 month low of $12.61 and a 12 month high of $15.40.

Great Ajax Corp. (NYSE:AJX) last announced its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.09. The business had revenue of $13.11 million for the quarter, compared to the consensus estimate of $12.99 million. Great Ajax Corp. had a net margin of 58.46% and a return on equity of 10.22%. Equities research analysts predict that Great Ajax Corp. will post $1.75 earnings per share for the current year.

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Several institutional investors have recently bought and sold shares of the company. American International Group Inc. raised its position in Great Ajax Corp. by 8.3% in the first quarter. American International Group Inc. now owns 8,067 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 619 shares during the last quarter. Nationwide Fund Advisors raised its position in Great Ajax Corp. by 16.3% in the second quarter. Nationwide Fund Advisors now owns 9,600 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 1,347 shares during the last quarter. Bard Associates Inc. raised its position in Great Ajax Corp. by 1.0% in the first quarter. Bard Associates Inc. now owns 190,665 shares of the real estate investment trust’s stock worth $2,488,000 after buying an additional 1,825 shares during the last quarter. Bank of New York Mellon Corp raised its position in Great Ajax Corp. by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 69,335 shares of the real estate investment trust’s stock worth $969,000 after buying an additional 2,022 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Great Ajax Corp. by 15.6% in the second quarter. Rhumbline Advisers now owns 17,933 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 2,415 shares during the last quarter. Institutional investors and hedge funds own 74.38% of the company’s stock.

Great Ajax Corp. Company Profile

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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