$13.82 Million in Sales Expected for Great Ajax Corp. (AJX) This Quarter
Equities research analysts forecast that Great Ajax Corp. (NYSE:AJX) will report $13.82 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Great Ajax’s earnings, with the highest sales estimate coming in at $14.28 million and the lowest estimate coming in at $13.36 million. Great Ajax reported sales of $10.97 million during the same quarter last year, which would suggest a positive year over year growth rate of 26%. The firm is scheduled to announce its next earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Great Ajax will report full year sales of $13.82 million for the current fiscal year, with estimates ranging from $52.70 million to $55.28 million. For the next financial year, analysts expect that the business will post sales of $58.73 million per share, with estimates ranging from $54.66 million to $64.32 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Great Ajax.
Several research analysts recently commented on the stock. B. Riley restated a “buy” rating on shares of Great Ajax in a report on Wednesday, November 1st. BidaskClub upgraded shares of Great Ajax from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Great Ajax from a “hold” rating to a “strong-buy” rating and set a $16.00 target price for the company in a report on Tuesday, October 3rd. Finally, Compass Point started coverage on shares of Great Ajax in a research note on Friday, September 29th. They issued a “neutral” rating and a $15.50 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Great Ajax presently has a consensus rating of “Buy” and an average price target of $15.17.
Shares of Great Ajax (NYSE AJX) traded up $0.09 on Thursday, reaching $14.38. 23,600 shares of the company traded hands, compared to its average volume of 50,617. Great Ajax has a fifty-two week low of $12.61 and a fifty-two week high of $15.40. The firm has a market capitalization of $260.82, a PE ratio of 9.22 and a beta of 0.85. 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 company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 8.34%. The ex-dividend date is Thursday, November 16th. Great Ajax’s dividend payout ratio is currently 78.43%.
Hedge funds have recently made changes to their positions in the business. FMR LLC lifted its stake in 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 valued at $24,275,000 after acquiring an additional 177,662 shares during the last quarter. Vanguard Group Inc. lifted its stake in Great Ajax by 14.7% in the first quarter. Vanguard Group Inc. now owns 611,719 shares of the real estate investment trust’s stock valued at $7,983,000 after acquiring an additional 78,399 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Great Ajax by 30.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 26,093 shares of the real estate investment trust’s stock worth $365,000 after buying an additional 6,014 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Great Ajax during the 2nd quarter worth about $192,000. Finally, Teachers Advisors LLC lifted its stake in shares of Great Ajax by 56.2% during the 2nd quarter. Teachers Advisors LLC now owns 29,039 shares of the real estate investment trust’s stock worth $406,000 after buying an additional 10,450 shares during the last quarter. Hedge funds and other institutional investors own 71.42% of the company’s stock.
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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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