Great Ajax (NYSE:AJX) Upgraded to Hold at Zacks Investment Research

Great Ajax (NYSE:AJX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Great Ajax Corp. is a real estate investment trust which acquires, invests and manages a portfolio of mortgage loans secured by single- family residences and single-family properties. The company invest in loans secured by multi-family residential and commercial mixed use retail/residential properties. It also hold real-estate owned properties acquired upon the foreclosure, other settlement of our owned non-performing loans. Great Ajax Corp. is based in Beaverton, Oregon. “

Shares of NYSE AJX traded down $0.14 during midday trading on Wednesday, reaching $13.36. 3,317 shares of the stock were exchanged, compared to its average volume of 147,373. The company has a market capitalization of $253.18 million, a price-to-earnings ratio of 9.15 and a beta of 0.76. Great Ajax has a twelve month low of $11.56 and a twelve month high of $14.37. The firm has a 50-day moving average price of $13.44. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 2.11.

Great Ajax (NYSE:AJX) last issued its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The firm had revenue of $15.18 million for the quarter, compared to analyst estimates of $15.48 million. Great Ajax had a return on equity of 8.65% and a net margin of 47.79%. On average, analysts forecast that Great Ajax will post 1.57 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of AJX. BNP Paribas Arbitrage SA grew its stake in shares of Great Ajax by 559.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,362 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 2,852 shares during the period. Covington Capital Management grew its stake in shares of Great Ajax by 28.6% during the 4th quarter. Covington Capital Management now owns 4,500 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,000 shares during the period. Bank of America Corp DE grew its stake in shares of Great Ajax by 44.1% during the 4th quarter. Bank of America Corp DE now owns 9,705 shares of the real estate investment trust’s stock worth $117,000 after purchasing an additional 2,972 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Great Ajax during the 4th quarter worth approximately $148,000. Finally, New York State Common Retirement Fund grew its stake in shares of Great Ajax by 11.3% during the 4th quarter. New York State Common Retirement Fund now owns 14,800 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 1,500 shares during the period. 73.53% of the stock is currently owned by institutional investors and hedge funds.

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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