StockNews.com initiated coverage on shares of Great Ajax (NYSE:AJX – Free Report) in a research note issued to investors on Saturday. The brokerage issued a sell rating on the real estate investment trust’s stock.
Separately, JMP Securities reaffirmed a market outperform rating and issued a $9.00 target price on shares of Great Ajax in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $9.88.
Great Ajax Price Performance
Great Ajax Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 9.65%. The ex-dividend date is Tuesday, November 14th. Great Ajax’s dividend payout ratio (DPR) is presently -31.21%.
Institutional Trading of Great Ajax
A number of hedge funds have recently modified their holdings of AJX. Alberta Investment Management Corp purchased a new position in shares of Great Ajax in the 3rd quarter worth about $1,817,000. BlackRock Inc. raised its position in Great Ajax by 25.8% in the 3rd quarter. BlackRock Inc. now owns 1,315,860 shares of the real estate investment trust’s stock worth $9,882,000 after buying an additional 269,557 shares during the last quarter. State Street Corp raised its position in Great Ajax by 67.7% in the 1st quarter. State Street Corp now owns 623,080 shares of the real estate investment trust’s stock worth $7,309,000 after buying an additional 251,443 shares during the last quarter. Millennium Management LLC raised its position in Great Ajax by 487.2% in the 2nd quarter. Millennium Management LLC now owns 276,843 shares of the real estate investment trust’s stock worth $2,655,000 after buying an additional 229,696 shares during the last quarter. Finally, Cowen AND Company LLC purchased a new position in Great Ajax in the 3rd quarter worth about $1,309,000. Institutional investors own 58.60% of the company’s stock.
About Great Ajax
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.
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