Zacks Investment Research downgraded shares of Great Ajax Corp. (NYSE:AJX) from a hold rating to a strong sell rating in a report published on Wednesday.

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. “

Several other research firms also recently weighed in on AJX. Nomura downgraded Great Ajax Corp. from a buy rating to a neutral rating and lowered their target price for the company from $16.00 to $14.50 in a research report on Wednesday, November 9th. Raymond James Financial Inc. began coverage on Great Ajax Corp. in a research report on Tuesday, November 22nd. They set an outperform rating and a $16.00 target price on the stock. FBR & Co reiterated an outperform rating and set a $18.00 target price on shares of Great Ajax Corp. in a research report on Thursday, August 4th. Finally, JMP Securities began coverage on Great Ajax Corp. in a research report on Thursday, October 20th. They set a mkt outperform rating and a $16.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $16.08.

Great Ajax Corp. (NYSE:AJX) opened at 12.96 on Wednesday. Great Ajax Corp. has a 12 month low of $9.06 and a 12 month high of $14.48. The company has a market cap of $234.82 million, a PE ratio of 6.98 and a beta of 1.06. The company has a 50 day moving average price of $13.66 and a 200-day moving average price of $13.70.

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The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, November 14th. This represents a $1.00 annualized dividend and a dividend yield of 7.72%. Great Ajax Corp.’s payout ratio is 53.48%.

Several institutional investors have recently made changes to their positions in AJX. American International Group Inc. increased its position in shares of Great Ajax Corp. by 193.5% in the second quarter. American International Group Inc. now owns 7,457 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 4,916 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Great Ajax Corp. by 205.8% in the second quarter. Nationwide Fund Advisors now owns 8,253 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 5,554 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Great Ajax Corp. during the second quarter valued at approximately $146,000. The Manufacturers Life Insurance Company acquired a new position in shares of Great Ajax Corp. during the third quarter valued at approximately $159,000. Finally, Rhumbline Advisers acquired a new position in shares of Great Ajax Corp. during the third quarter valued at approximately $173,000. Institutional investors and hedge funds own 73.29% of the company’s stock.

Great Ajax Corp. 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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