Zacks Investment Research upgraded shares of Great Ajax (NYSE:AJX) from a sell rating to a hold rating in a research note published on Monday, Zacks.com reports.

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 research analysts have also weighed in on AJX. Raymond James boosted their target price on shares of Great Ajax from $8.50 to $10.50 and gave the stock an outperform rating in a report on Thursday, May 14th. B. Riley reduced their target price on shares of Great Ajax from $16.00 to $12.00 and set a buy rating on the stock in a report on Wednesday, May 6th. TheStreet lowered shares of Great Ajax from a c rating to a d+ rating in a report on Monday, May 18th. Finally, ValuEngine lowered shares of Great Ajax from a hold rating to a sell rating in a report on Monday, August 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Great Ajax has a consensus rating of Hold and an average target price of $13.17.

AJX stock opened at $9.81 on Monday. The company has a 50 day simple moving average of $8.85 and a 200 day simple moving average of $9.79. The stock has a market cap of $218.93 million, a price-to-earnings ratio of 10.22 and a beta of 1.57. Great Ajax has a 1 year low of $3.96 and a 1 year high of $15.96. The company has a debt-to-equity ratio of 1.88, a current ratio of 3.02 and a quick ratio of 3.02.

Great Ajax (NYSE:AJX) last released its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.03. Great Ajax had a net margin of 39.56% and a return on equity of 6.36%. On average, equities research analysts anticipate that Great Ajax will post 0.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, August 13th. This represents a $0.68 annualized dividend and a yield of 6.93%. Great Ajax’s payout ratio is 45.03%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Great Ajax by 1.4% during the first quarter. BlackRock Inc. now owns 1,729,602 shares of the real estate investment trust’s stock worth $11,001,000 after buying an additional 24,286 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Great Ajax by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 75,011 shares of the real estate investment trust’s stock valued at $477,000 after purchasing an additional 3,772 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Great Ajax by 87.6% in the first quarter. Citigroup Inc. now owns 6,482 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 3,026 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Great Ajax by 321.4% in the first quarter. Parametric Portfolio Associates LLC now owns 79,414 shares of the real estate investment trust’s stock valued at $505,000 after purchasing an additional 60,570 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Great Ajax by 10.3% in the first quarter. Geode Capital Management LLC now owns 253,936 shares of the real estate investment trust’s stock valued at $1,615,000 after purchasing an additional 23,666 shares during the last quarter. Hedge funds and other institutional investors own 66.62% of the company’s stock.

Great Ajax Company Profile

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.

Featured Article: What are retained earnings?

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.