Great Ajax Corp. to Issue Quarterly Dividend of $0.30 (AJX)
Great Ajax Corp. (NYSE:AJX) declared a quarterly dividend on Wednesday, November 8th, Wall Street Journal reports. Investors of record on Friday, November 17th will be paid a dividend of 0.30 per share by the real estate investment trust on Friday, December 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.34%. The ex-dividend date is Thursday, November 16th.
Great Ajax Corp. has a payout ratio of 69.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Great Ajax Corp. to earn $1.85 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 64.9%.
Shares of Great Ajax Corp. (NYSE AJX) traded up $0.64 during trading hours on Wednesday, hitting $14.39. The company had a trading volume of 198,675 shares, compared to its average volume of 39,446. The company has a market cap of $250.00, a P/E ratio of 8.62 and a beta of 0.85. The company has a current ratio of 4.44, a quick ratio of 4.44 and a debt-to-equity ratio of 2.07. Great Ajax Corp. has a 52 week low of $12.61 and a 52 week high of $15.40.
AJX has been the subject of a number of recent research reports. Zacks Investment Research downgraded Great Ajax Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. BidaskClub upgraded Great Ajax Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Compass Point initiated coverage on Great Ajax Corp. in a research note on Friday, September 29th. They set a “neutral” rating and a $15.50 price objective for the company. Finally, B. Riley reiterated a “buy” rating on shares of Great Ajax Corp. in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $15.20.
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A hedge fund recently raised its stake in Great Ajax Corp. stock. State Street Corp boosted its holdings in Great Ajax Corp. (NYSE:AJX) by 14.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 213,596 shares of the real estate investment trust’s stock after purchasing an additional 26,212 shares during the quarter. State Street Corp owned approximately 1.21% of Great Ajax Corp. worth $2,989,000 as of its most recent SEC filing. 75.04% of the stock is owned by hedge funds and other institutional investors.
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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