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.

Shares of Great Ajax (NYSE AJX) traded down $0.09 on Monday, hitting $14.28. 58,824 shares of the stock were exchanged, compared to its average volume of 50,968. The stock has a market capitalization of $262.28, a price-to-earnings ratio of 9.27 and a beta of 0.86. 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.

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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