Brokerages expect that Great Ajax Corp (NYSE:AJX) will post $15.57 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Great Ajax’s earnings. The highest sales estimate is $16.81 million and the lowest is $14.51 million. Great Ajax posted sales of $14.74 million in the same quarter last year, which suggests a positive year over year growth rate of 5.6%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 7th.
According to Zacks, analysts expect that Great Ajax will report full year sales of $64.46 million for the current year, with estimates ranging from $60.81 million to $70.57 million. For the next financial year, analysts forecast that the firm will report sales of $65.07 million, with estimates ranging from $63.60 million to $66.53 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Great Ajax.
Separately, Zacks Investment Research lowered shares of Great Ajax from a “hold” rating to a “strong sell” rating in a research report on Friday, January 11th.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 9.30%. The ex-dividend date was Thursday, March 14th. Great Ajax’s dividend payout ratio (DPR) is presently 87.67%.
Institutional investors have recently added to or reduced their stakes in the stock. Covington Capital Management boosted its holdings in shares of Great Ajax by 28.6% in the fourth quarter. Covington Capital Management now owns 4,500 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 1,000 shares during the period. Bank of America Corp DE boosted its position in shares of Great Ajax by 44.1% in the fourth quarter. Bank of America Corp DE now owns 9,705 shares of the real estate investment trust’s stock valued at $117,000 after acquiring an additional 2,972 shares during the period. Prudential Financial Inc. purchased a new position in Great Ajax during the fourth quarter valued at approximately $148,000. New York State Common Retirement Fund grew its stake in Great Ajax by 11.3% during the fourth quarter. New York State Common Retirement Fund now owns 14,800 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Great Ajax during the 4th quarter worth approximately $193,000. Institutional investors and hedge funds own 73.94% of the company’s stock.
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 acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases. The company elected to be taxed as a real estate investment trust for U.S.
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