Great Ajax (NYSE:AJX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $16.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.04% from the company’s current price.

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. “

AJX has been the topic of a number of other research reports. BidaskClub upgraded shares of Great Ajax from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. Compass Point assumed coverage on shares of Great Ajax in a research report on Friday, September 29th. They issued a “neutral” rating and a $15.50 target price on the stock. Finally, B. Riley restated a “buy” rating on shares of Great Ajax in a research report on Wednesday, November 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $15.17.

Shares of Great Ajax (AJX) traded down $0.09 during trading on Monday, reaching $14.28. 58,824 shares of the company’s stock were exchanged, compared to its average volume of 50,968. Great Ajax has a 1 year low of $12.72 and a 1 year high of $15.40. The company has a debt-to-equity ratio of 2.03, a current ratio of 4.23 and a quick ratio of 4.23. The firm has a market capitalization of $262.28, a price-to-earnings ratio of 9.27 and a beta of 0.86.

Large investors have recently modified their holdings of the company. Nationwide Fund Advisors lifted its holdings in shares of Great Ajax by 16.3% during the second quarter. Nationwide Fund Advisors now owns 9,600 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 1,347 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Great Ajax during the second quarter worth $192,000. Wealthsource Partners LLC acquired a new position in shares of Great Ajax during the second quarter worth $214,000. Rhumbline Advisers lifted its holdings in shares of Great Ajax by 15.6% during the second quarter. Rhumbline Advisers now owns 17,933 shares of the real estate investment trust’s stock worth $251,000 after purchasing an additional 2,415 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Great Ajax by 31.1% during the second quarter. The Manufacturers Life Insurance Company now owns 17,977 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 4,260 shares during the period. Institutional investors own 71.42% of the company’s stock.

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About Great Ajax

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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