Piper Jaffray Companies Comments on Great Ajax Corp’s FY2019 Earnings (NYSE:AJX)
Great Ajax Corp (NYSE:AJX) – Equities research analysts at Piper Jaffray Companies increased their FY2019 earnings estimates for Great Ajax in a note issued to investors on Tuesday, August 6th. Piper Jaffray Companies analyst K. Barker now anticipates that the real estate investment trust will post earnings per share of $1.64 for the year, up from their previous forecast of $1.60. Piper Jaffray Companies has a “Buy” rating and a $15.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Great Ajax’s Q2 2020 earnings at $0.43 EPS, Q3 2020 earnings at $0.46 EPS, Q4 2020 earnings at $0.48 EPS and FY2020 earnings at $1.80 EPS.
Great Ajax (NYSE:AJX) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.09). Great Ajax had a return on equity of 8.12% and a net margin of 51.93%. The firm had revenue of $20.70 million during the quarter, compared to the consensus estimate of $14.90 million.
Shares of AJX stock traded down $0.08 during mid-day trading on Friday, reaching $14.37. The stock had a trading volume of 3,054 shares, compared to its average volume of 45,070. The company has a 50 day moving average of $13.75. 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 has a one year low of $11.56 and a one year high of $14.60. The company has a market capitalization of $260.38 million, a price-to-earnings ratio of 9.84 and a beta of 0.81.
Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in shares of Great Ajax by 0.5% during the fourth quarter. BlackRock Inc. now owns 1,238,026 shares of the real estate investment trust’s stock valued at $14,917,000 after buying an additional 5,981 shares during the last quarter. Northern Trust Corp raised its position in Great Ajax by 2.6% during the fourth quarter. Northern Trust Corp now owns 185,529 shares of the real estate investment trust’s stock worth $2,235,000 after acquiring an additional 4,754 shares during the period. Geode Capital Management LLC raised its position in Great Ajax by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 149,161 shares of the real estate investment trust’s stock worth $1,797,000 after acquiring an additional 10,981 shares during the period. Two Sigma Investments LP raised its position in Great Ajax by 40.2% during the fourth quarter. Two Sigma Investments LP now owns 23,919 shares of the real estate investment trust’s stock worth $288,000 after acquiring an additional 6,864 shares during the period. Finally, Bank of America Corp DE raised its position in Great Ajax by 44.1% during the fourth quarter. Bank of America Corp DE now owns 9,705 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 2,972 shares during the period. Institutional investors own 73.52% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be given a $0.32 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.91%. Great Ajax’s dividend payout ratio is currently 87.67%.
About Great Ajax
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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