Zacks Investment Research upgraded shares of Great Ajax (NYSE:AJX) from a sell rating to a hold rating in a research report released on Tuesday.

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. “

Separately, ValuEngine raised shares of Great Ajax from a sell rating to a hold rating in a report on Monday, July 16th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $16.50.

Great Ajax stock opened at $12.83 on Tuesday. The firm has a market capitalization of $256.17 million, a price-to-earnings ratio of 8.17 and a beta of 0.64. The company has a debt-to-equity ratio of 2.28, a current ratio of 4.28 and a quick ratio of 4.28. Great Ajax has a 12 month low of $12.27 and a 12 month high of $14.69.

Great Ajax (NYSE:AJX) last released its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The business had revenue of $14.78 million during the quarter, compared to analyst estimates of $14.51 million. Great Ajax had a return on equity of 9.38% and a net margin of 50.12%. On average, analysts anticipate that Great Ajax will post 1.62 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. bought a new stake in Great Ajax in the first quarter valued at $137,000. Wealthsource Partners LLC bought a new stake in Great Ajax in the second quarter valued at $181,000. Schwab Charles Investment Management Inc. lifted its stake in Great Ajax by 18.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 32,000 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 5,000 shares during the last quarter. Monarch Partners Asset Management LLC lifted its stake in Great Ajax by 16.0% in the second quarter. Monarch Partners Asset Management LLC now owns 58,650 shares of the real estate investment trust’s stock valued at $767,000 after buying an additional 8,110 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in Great Ajax by 7.8% in the second quarter. California Public Employees Retirement System now owns 61,315 shares of the real estate investment trust’s stock valued at $802,000 after buying an additional 4,415 shares during the last quarter. Institutional investors own 69.65% of the company’s stock.

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, such as one to four unit homes and smaller commercial properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases.

Read More: Hedge Funds

Get a free copy of the Zacks research report on Great Ajax (AJX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Great Ajax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Ajax and related companies with MarketBeat.com's FREE daily email newsletter.