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.

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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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