Great Ajax Corp (NYSE:AJX) announced a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Wednesday, August 15th will be given a dividend of 0.30 per share by the real estate investment trust on Thursday, August 30th. This represents a $1.20 annualized dividend and a dividend yield of 8.87%. The ex-dividend date is Tuesday, August 14th.
Great Ajax has a dividend payout ratio of 72.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Great Ajax 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 AJX traded up $0.10 during mid-day trading on Wednesday, hitting $13.53. 28,263 shares of the company traded hands, compared to its average volume of 39,321. Great Ajax has a one year low of $12.27 and a one year high of $14.74. The company has a debt-to-equity ratio of 2.39, a current ratio of 4.74 and a quick ratio of 4.74. The stock has a market capitalization of $252.62 million, a P/E ratio of 8.55 and a beta of 0.62.
Great Ajax (NYSE:AJX) last released its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Great Ajax had a net margin of 50.44% and a return on equity of 9.40%. The company had revenue of $14.78 million for the quarter, compared to the consensus estimate of $14.51 million. analysts anticipate that Great Ajax will post 1.66 EPS for the current year.
AJX has been the topic of several research analyst reports. ValuEngine cut shares of Great Ajax from a “hold” rating to a “sell” rating in a research note on Wednesday, June 6th. Zacks Investment Research raised shares of Great Ajax from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, May 11th. Finally, Compass Point cut shares of Great Ajax from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Great Ajax presently has an average rating of “Hold” and a consensus target price of $16.17.
Great Ajax Company Profile
Great Ajax Corp. acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans. It also holds real estate-owned properties, such as one to four unit homes and smaller commercial properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases.
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