Great Ajax Corp. (NYSE:AJX) has been given a consensus rating of “Buy” by the six ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.50.
A number of analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of Great Ajax from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, March 11th. Raymond James raised their price objective on shares of Great Ajax from $11.50 to $14.00 and gave the stock an “outperform” rating in a report on Monday, March 15th. Finally, Zacks Investment Research upgraded shares of Great Ajax from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Friday, March 5th.
A number of large investors have recently modified their holdings of AJX. Wells Fargo & Company MN grew its stake in Great Ajax by 32.3% during the third quarter. Wells Fargo & Company MN now owns 74,997 shares of the real estate investment trust’s stock valued at $621,000 after acquiring an additional 18,304 shares in the last quarter. First Trust Advisors LP bought a new stake in Great Ajax during the third quarter valued at approximately $481,000. California Public Employees Retirement System lifted its position in Great Ajax by 4.9% during the third quarter. California Public Employees Retirement System now owns 49,508 shares of the real estate investment trust’s stock valued at $410,000 after purchasing an additional 2,300 shares during the last quarter. BlackRock Inc. lifted its position in Great Ajax by 2.6% during the third quarter. BlackRock Inc. now owns 2,005,786 shares of the real estate investment trust’s stock valued at $16,629,000 after purchasing an additional 51,063 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Great Ajax by 319.7% during the third quarter. JPMorgan Chase & Co. now owns 101,368 shares of the real estate investment trust’s stock valued at $843,000 after purchasing an additional 77,214 shares during the last quarter. 70.89% of the stock is owned by institutional investors.
Great Ajax (NYSE:AJX) last released its quarterly earnings results on Wednesday, March 3rd. The real estate investment trust reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.18. Great Ajax had a net margin of 40.91% and a return on equity of 6.10%. On average, equities research analysts expect that Great Ajax will post 0.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Thursday, March 18th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, March 17th. This represents a $0.68 annualized dividend and a yield of 5.98%. Great Ajax’s dividend payout ratio is currently 45.03%.
Great Ajax Company Profile
Great Ajax Corp. operates as a real estate investment trust. The firm acquires, invests and manages a portfolio of mortgage loans secured by single-family residences and single-family properties. It holds real-estate owned properties acquired upon the foreclosure, other settlement of owned non-performing loans, or that acquires in the market.
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