Great Ajax (AJX) Upgraded to Hold by Zacks Investment Research

Great Ajax (NYSE:AJX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

NYSE AJX traded up $0.08 during trading on Wednesday, reaching $13.95. 37,268 shares of the company’s stock were exchanged, compared to its average volume of 34,322. The company has a market cap of $264.63 million, a PE ratio of 9.55 and a beta of 0.71. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 2.11. Great Ajax has a fifty-two week low of $11.56 and a fifty-two week high of $14.37.

Great Ajax (NYSE:AJX) last announced its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The business had revenue of $15.18 million for the quarter, compared to analyst estimates of $15.48 million. Great Ajax had a return on equity of 8.65% and a net margin of 47.79%. As a group, research analysts anticipate that Great Ajax will post 1.6 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in AJX. BlackRock Inc. grew its position in shares of Great Ajax by 5.9% in the third quarter. BlackRock Inc. now owns 1,232,045 shares of the real estate investment trust’s stock valued at $16,768,000 after purchasing an additional 68,321 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Great Ajax by 42.8% in the third quarter. Renaissance Technologies LLC now owns 140,922 shares of the real estate investment trust’s stock valued at $1,918,000 after purchasing an additional 42,204 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Great Ajax by 4.4% in the third quarter. Vanguard Group Inc. now owns 781,719 shares of the real estate investment trust’s stock valued at $10,639,000 after purchasing an additional 33,176 shares during the last quarter. Vanguard Group Inc grew its position in shares of Great Ajax by 4.4% in the third quarter. Vanguard Group Inc now owns 781,719 shares of the real estate investment trust’s stock valued at $10,639,000 after purchasing an additional 33,176 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Great Ajax in the fourth quarter valued at approximately $193,000. 71.37% of the stock is currently owned by hedge funds and other institutional investors.

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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