Great Ajax Corp. Declares Quarterly Dividend of $0.06 (NYSE:AJX)

Great Ajax Corp. (NYSE:AJX) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.06 per share by the real estate investment trust on Thursday, May 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 6.86%. The ex-dividend date of this dividend is Tuesday, May 14th.

Great Ajax has a dividend payout ratio of 88.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Great Ajax to earn $0.45 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 88.9%.

Great Ajax Trading Down 3.6 %

Shares of AJX traded down $0.13 during midday trading on Monday, reaching $3.50. The stock had a trading volume of 138,874 shares, compared to its average volume of 156,923. The firm has a 50 day simple moving average of $3.77 and a 200-day simple moving average of $4.54. Great Ajax has a one year low of $3.30 and a one year high of $7.20. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.99 and a current ratio of 1.99.

Great Ajax (NYSE:AJX) last announced its quarterly earnings data on Monday, February 26th. The real estate investment trust reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.28). The firm had revenue of $17.66 million for the quarter, compared to the consensus estimate of $5.65 million. On average, equities analysts expect that Great Ajax will post 0.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AJX has been the subject of a number of research reports. JMP Securities cut shares of Great Ajax from an “outperform” rating to a “market perform” rating in a research note on Friday, January 12th. B. Riley restated a “buy” rating and issued a $6.00 target price (down from $8.00) on shares of Great Ajax in a research report on Thursday, March 21st. Finally, StockNews.com cut shares of Great Ajax from a “hold” rating to a “sell” rating in a research report on Monday, March 25th.

Great Ajax Company Profile

Great Ajax Corp. operates as a mortgage real estate investment trust. It acquires re-performing and non-performing loans; acquires or originates small balance commercial mortgage loans that are secured by multi-family residential and commercial mixed use retail/residential properties; and invests in single-family and smaller commercial properties.