Great Ajax Corp. (AJX) Coverage Initiated at Compass Point
Compass Point initiated coverage on shares of Great Ajax Corp. (NYSE:AJX) in a research report issued on Friday. The firm set a “neutral” rating and a $15.50 price target on the real estate investment trust’s stock. Compass Point’s price target would suggest a potential upside of 10.01% from the stock’s previous close.
AJX has been the subject of several other reports. Zacks Investment Research downgraded Great Ajax Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BidaskClub downgraded Great Ajax Corp. from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $15.33.
Shares of Great Ajax Corp. (NYSE:AJX) opened at 14.09 on Friday. Great Ajax Corp. has a 52 week low of $12.61 and a 52 week high of $14.32. The company has a 50-day moving average of $14.00 and a 200-day moving average of $14.00. The stock has a market capitalization of $248.32 million, a P/E ratio of 8.97 and a beta of 0.87.
Great Ajax Corp. (NYSE:AJX) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.09). The company had revenue of $13.11 million for the quarter, compared to the consensus estimate of $12.99 million. Great Ajax Corp. had a net margin of 58.46% and a return on equity of 10.22%. On average, analysts anticipate that Great Ajax Corp. will post $1.79 EPS for the current year.
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Hedge funds have recently bought and sold shares of the business. Family Management Corp bought a new position in Great Ajax Corp. in the 1st quarter worth approximately $496,000. Vanguard Group Inc. boosted its stake in Great Ajax Corp. by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 611,719 shares of the real estate investment trust’s stock worth $7,983,000 after purchasing an additional 78,399 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Great Ajax Corp. in the 2nd quarter worth approximately $192,000. Russell Investments Group Ltd. boosted its stake in Great Ajax Corp. by 30.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 26,093 shares of the real estate investment trust’s stock worth $365,000 after purchasing an additional 6,014 shares during the period. Finally, Monarch Partners Asset Management LLC bought a new position in Great Ajax Corp. in the 2nd quarter worth approximately $451,000. Institutional investors and hedge funds own 75.26% of the company’s stock.
About Great Ajax Corp.
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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