Great Ajax (NYSE:AJX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage presently has a $16.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.04% from the company’s previous close.
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 analysts have also issued reports on the stock. B. Riley reissued a “buy” rating on shares of Great Ajax in a research note on Wednesday, November 1st. Compass Point raised shares of Great Ajax from a “neutral” rating to a “buy” rating in a research note on Wednesday, November 8th. Finally, BidaskClub raised shares of Great Ajax from a “hold” rating to a “buy” rating in a research note on Wednesday, August 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.17.
Several institutional investors and hedge funds have recently bought and sold shares of the company. American International Group Inc. increased its holdings in Great Ajax by 8.3% in the 1st 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 period. Nationwide Fund Advisors grew its stake in shares of Great Ajax by 16.3% during the 2nd 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. GSA Capital Partners LLP acquired a new stake in shares of Great Ajax during the 2nd quarter worth approximately $146,000. Russell Investments Group Ltd. acquired a new stake in shares of Great Ajax during the 4th quarter worth approximately $163,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Great Ajax during the 2nd quarter worth approximately $192,000. Hedge funds and other 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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