Great Ajax Corp. (NYSE:AJX) Rating Increased to Buy at Compass Point

Compass Point upgraded shares of Great Ajax Corp. (NYSE:AJX) from a neutral rating to a buy rating in a research note published on Wednesday, November 8th, MarketBeat reports.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Great Ajax from a sell rating to a hold rating in a research note on Wednesday, August 23rd. BidaskClub downgraded shares of Great Ajax from a buy rating to a hold rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Great Ajax has an average rating of Buy and an average target price of $15.17.

Shares of Great Ajax (NYSE AJX) traded up $0.01 during midday trading on Wednesday, hitting $14.30. 42,724 shares of the company traded hands, compared to its average volume of 50,854. Great Ajax has a one year low of $12.61 and a one year high of $15.40. The company has a debt-to-equity ratio of 2.03, a current ratio of 4.23 and a quick ratio of 4.23. The stock has a market capitalization of $260.82, a PE ratio of 9.22 and a beta of 0.85.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.20 dividend on an annualized basis and a yield of 8.39%. Great Ajax’s dividend payout ratio is currently 78.43%.

A number of hedge funds have recently made changes to their positions in AJX. FMR LLC increased its stake in shares of Great Ajax by 11.4% in the second quarter. FMR LLC now owns 1,736,388 shares of the real estate investment trust’s stock worth $24,275,000 after purchasing an additional 177,662 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Great Ajax by 3.3% in the second quarter. Vanguard Group Inc. now owns 631,753 shares of the real estate investment trust’s stock worth $8,832,000 after purchasing an additional 20,034 shares in the last quarter. State Street Corp increased its stake in shares of Great Ajax by 14.0% in the second quarter. State Street Corp now owns 213,596 shares of the real estate investment trust’s stock worth $2,989,000 after purchasing an additional 26,212 shares in the last quarter. Northern Trust Corp increased its stake in shares of Great Ajax by 12.9% in the second quarter. Northern Trust Corp now owns 176,039 shares of the real estate investment trust’s stock worth $2,461,000 after purchasing an additional 20,154 shares in the last quarter. Finally, Ares Management LLC purchased a new stake in shares of Great Ajax in the second quarter worth $1,367,000. 74.22% of the stock is owned by institutional investors and hedge funds.

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About Great Ajax

Great Ajax Corp. is an externally managed real estate company. The Company is focused on acquiring, investing in and managing a portfolio of re-performing and non-performing mortgage loans secured by single-family residences and single-family properties. Its segment is focused on non-performing mortgages and re-performing mortgages.

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