Zacks Investment Research Downgrades Great Ajax (NYSE:AJX) to Sell

Great Ajax (NYSE:AJX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, 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. “

Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Great Ajax from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Raymond James reaffirmed a “buy” rating on shares of Great Ajax in a report on Friday, August 21st. Finally, TheStreet raised shares of Great Ajax from a “d+” rating to a “c” rating in a report on Thursday, August 20th. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $13.50.

AJX traded up $0.26 during trading on Wednesday, hitting $9.63. 5,028 shares of the company traded hands, compared to its average volume of 77,871. The firm has a market cap of $214.81 million, a P/E ratio of 10.03 and a beta of 1.58. The stock’s fifty day moving average is $9.29 and its 200 day moving average is $8.84. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.88. Great Ajax has a one year low of $3.96 and a one year high of $15.96.

Great Ajax (NYSE:AJX) last posted its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ 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 forecast that Great Ajax will post 0.75 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in AJX. BlackRock Inc. raised its stake in Great Ajax by 1.4% in the first quarter. BlackRock Inc. now owns 1,729,602 shares of the real estate investment trust’s stock valued at $11,001,000 after purchasing an additional 24,286 shares in the last quarter. Rhumbline Advisers raised its stake in Great Ajax by 25.2% in the first quarter. Rhumbline Advisers now owns 31,954 shares of the real estate investment trust’s stock valued at $203,000 after purchasing an additional 6,430 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 in the last quarter. Russell Investments Group Ltd. purchased a new stake in Great Ajax in the first quarter valued at approximately $464,000. Finally, State Street Corp raised its stake in Great Ajax by 30.1% in the first quarter. State Street Corp now owns 650,283 shares of the real estate investment trust’s stock valued at $4,136,000 after purchasing an additional 150,442 shares in the last quarter. 71.08% of the stock is currently owned by hedge funds and other institutional investors.

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.

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