Great Ajax Corp (NYSE:AJX) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 330,200 shares, a growth of 8.6% from the June 30th total of 304,000 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 83,600 shares, the days-to-cover ratio is currently 3.9 days.
A number of analysts have recently weighed in on AJX shares. Piper Jaffray Companies set a $15.00 price objective on shares of Great Ajax and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Zacks Investment Research upgraded shares of Great Ajax from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Friday, August 9th.
Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA lifted its stake in shares of Great Ajax by 559.2% in the first quarter. BNP Paribas Arbitrage SA now owns 3,362 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,852 shares during the last quarter. Bank of America Corp DE increased its position in Great Ajax by 44.1% during the fourth quarter. Bank of America Corp DE now owns 9,705 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 2,972 shares during the period. Zebra Capital Management LLC bought a new position in Great Ajax during the second quarter worth $141,000. Bessemer Group Inc. bought a new position in Great Ajax during the second quarter worth $162,000. Finally, Meeder Asset Management Inc. increased its position in Great Ajax by 641.1% during the second quarter. Meeder Asset Management Inc. now owns 13,103 shares of the real estate investment trust’s stock worth $184,000 after acquiring an additional 11,335 shares during the period. Institutional investors and hedge funds own 73.14% of the company’s stock.
Great Ajax (NYSE:AJX) last issued its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.09). Great Ajax had a return on equity of 8.05% and a net margin of 51.93%. The firm had revenue of $20.70 million during the quarter, compared to analyst estimates of $14.90 million. As a group, research analysts predict that Great Ajax will post 1.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date is Friday, August 16th. Great Ajax’s payout ratio is 87.67%.
About Great Ajax
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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