Great Ajax (NYSE:AJX) Downgraded by StockNews.com

StockNews.com downgraded shares of Great Ajax (NYSE:AJX) from a hold rating to a sell rating in a report issued on Monday.

Several other analysts have also recently issued reports on AJX. JMP Securities cut shares of Great Ajax from an outperform rating to a market perform rating in a research note on Friday, January 12th. B. Riley reissued a buy rating and issued a $6.00 price target (down previously from $8.00) on shares of Great Ajax in a report on Thursday, March 21st.

Great Ajax Stock Performance

Shares of AJX stock opened at $3.81 on Monday. The stock has a market capitalization of $104.62 million, a P/E ratio of -1.93 and a beta of 1.88. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.86. The firm’s 50 day moving average is $4.53 and its 200 day moving average is $5.09. Great Ajax has a 12 month low of $3.30 and a 12 month high of $7.20.

Great Ajax (NYSE:AJX) last posted its earnings results on Monday, February 26th. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.28). The business had revenue of $17.66 million for the quarter, compared to analyst estimates of $5.65 million. On average, sell-side analysts anticipate that Great Ajax will post 0.02 earnings per share for the current year.

Great Ajax Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 10.50%. The ex-dividend date of this dividend is Thursday, March 14th. Great Ajax’s payout ratio is -20.30%.

Hedge Funds Weigh In On Great Ajax

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in shares of Great Ajax during the 4th quarter valued at $27,000. Simplex Trading LLC grew its holdings in shares of Great Ajax by 73.5% during the 4th quarter. Simplex Trading LLC now owns 5,946 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 2,518 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Great Ajax by 194.1% during the 4th quarter. Wells Fargo & Company MN now owns 4,856 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 3,205 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Great Ajax during the 3rd quarter valued at $39,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Great Ajax by 903.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,308 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 11,081 shares during the last quarter. Institutional investors own 58.60% of the company’s stock.

About Great Ajax

Great Ajax Corp. operates as a mortgage real estate investment trust. It acquires re-performing and non-performing loans; acquires or originates small balance commercial mortgage loans that are secured by multi-family residential and commercial mixed use retail/residential properties; and invests in single-family and smaller commercial properties.