KG&L Capital Management LLC cut its stake in Great Ajax Corp (NYSE:AJX) by 2.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 88,745 shares of the real estate investment trust’s stock after selling 2,514 shares during the quarter. Great Ajax comprises 1.2% of KG&L Capital Management LLC’s investment portfolio, making the stock its 17th largest position. KG&L Capital Management LLC’s holdings in Great Ajax were worth $1,375,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of AJX. Zebra Capital Management LLC purchased a new stake in shares of Great Ajax in the second quarter worth approximately $141,000. Bessemer Group Inc. purchased a new stake in shares of Great Ajax in the second quarter worth approximately $162,000. Meeder Asset Management Inc. raised its stake in shares of Great Ajax by 641.1% in the second quarter. Meeder Asset Management Inc. now owns 13,103 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 11,335 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Great Ajax by 11.8% in the second quarter. Parametric Portfolio Associates LLC now owns 17,749 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 1,875 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Great Ajax in the second quarter valued at approximately $339,000. 74.29% of the stock is owned by hedge funds and other institutional investors.
AJX has been the subject of several recent analyst reports. Piper Jaffray Companies set a $15.00 target price on Great Ajax and gave the company a “buy” rating in a report on Wednesday, August 7th. Zacks Investment Research lowered Great Ajax from a “buy” rating to a “hold” rating in a report on Tuesday.
Great Ajax (NYSE:AJX) last released its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.09). The business had revenue of $20.70 million during the quarter, compared to the consensus estimate of $14.90 million. Great Ajax had a net margin of 51.93% and a return on equity of 8.05%. As a group, research analysts predict that Great Ajax Corp will post 1.59 EPS for the current year.
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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