Great Ajax Corp. (AJX) Lowered to “Hold” at Zacks Investment Research
Great Ajax Corp. (NYSE:AJX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
A number of other brokerages have also issued reports on AJX. BidaskClub lowered shares of Great Ajax Corp. from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Compass Point started coverage on shares of Great Ajax Corp. in a research report on Friday, September 29th. They set a “neutral” rating and a $15.50 target price on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $15.20.
Shares of Great Ajax Corp. (AJX) traded up 0.43% on Tuesday, reaching $14.15. 30,768 shares of the company’s stock were exchanged. Great Ajax Corp. has a 12 month low of $12.61 and a 12 month high of $15.40. The firm’s 50-day moving average price is $14.23 and its 200 day moving average price is $14.05. The company has a market cap of $249.38 million, a price-to-earnings ratio of 9.01 and a beta of 0.86.
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 Zacks’ consensus estimate of $0.45 by ($0.09). Great Ajax Corp. had a return on equity of 10.22% and a net margin of 58.46%. The business had revenue of $13.11 million for the quarter, compared to analyst estimates of $12.99 million. Equities research analysts predict that Great Ajax Corp. will post $1.78 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Great Ajax Corp. by 14.7% during the 1st quarter. Vanguard Group Inc. now owns 611,719 shares of the real estate investment trust’s stock worth $7,983,000 after acquiring an additional 78,399 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Great Ajax Corp. during the 2nd quarter worth approximately $192,000. Russell Investments Group Ltd. lifted its holdings in shares of Great Ajax Corp. by 30.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 26,093 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 6,014 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Great Ajax Corp. by 3.9% during the 1st quarter. Bank of New York Mellon Corp now owns 67,313 shares of the real estate investment trust’s stock worth $879,000 after acquiring an additional 2,525 shares during the period. Finally, Monarch Partners Asset Management LLC bought a new stake in shares of Great Ajax Corp. during the 2nd quarter worth approximately $451,000. 75.04% of the stock is owned by institutional investors.
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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