Zacks Investment Research Upgrades Great Ajax (AJX) to Buy
Great Ajax (NYSE:AJX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $16.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.12% from the company’s previous close.
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. “
A number of other equities analysts also recently commented on the company. B. Riley restated a “buy” rating on shares of Great Ajax in a report on Wednesday, November 1st. Compass Point raised Great Ajax from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 8th. Finally, BidaskClub raised Great Ajax from a “hold” rating to a “buy” rating in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.17.
Great Ajax (NYSE:AJX) opened at $14.27 on Monday. Great Ajax has a twelve month low of $12.72 and a twelve month high of $15.40. The company has a market capitalization of $260.64, a P/E ratio of 9.21 and a beta of 0.86. The company has a quick ratio of 4.23, a current ratio of 4.23 and a debt-to-equity ratio of 2.03.
A number of institutional investors have recently made changes to their positions in the business. Nationwide Fund Advisors boosted its position in shares of Great Ajax by 16.3% in the second quarter. Nationwide Fund Advisors now owns 9,600 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 1,347 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Great Ajax in the second quarter valued at approximately $192,000. Wealthsource Partners LLC bought a new stake in shares of Great Ajax in the second quarter valued at approximately $214,000. Rhumbline Advisers boosted its position in shares of Great Ajax by 15.6% in the second quarter. Rhumbline Advisers now owns 17,933 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 2,415 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Great Ajax by 31.1% in the second quarter. The Manufacturers Life Insurance Company now owns 17,977 shares of the real estate investment trust’s stock valued at $252,000 after acquiring an additional 4,260 shares during the period. 71.42% of the stock is owned by hedge funds and other institutional investors.
Great Ajax Company Profile
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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