BTIG Research Begins Coverage on Great Ajax (NYSE:AJX)

BTIG Research began coverage on shares of Great Ajax (NYSE:AJX) in a research note released on Tuesday, StockNewsAPI reports. The brokerage issued a neutral rating on the real estate investment trust’s stock.

Great Ajax Price Performance

Shares of NYSE:AJX opened at $3.59 on Tuesday. The firm has a market capitalization of $163.74 million, a P/E ratio of -0.89 and a beta of 1.90. Great Ajax has a 12 month low of $3.10 and a 12 month high of $6.81. The company’s fifty day moving average price is $3.46 and its 200 day moving average price is $3.56. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.58 and a quick ratio of 1.58.

Great Ajax Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 6.69%. The ex-dividend date was Thursday, August 15th. Great Ajax’s dividend payout ratio (DPR) is -5.96%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Magnetar Financial LLC acquired a new position in shares of Great Ajax during the 1st quarter valued at $35,501,000. EMG Holdings L.P. lifted its holdings in shares of Great Ajax by 608.3% in the 4th quarter. EMG Holdings L.P. now owns 1,940,649 shares of the real estate investment trust’s stock worth $10,285,000 after purchasing an additional 1,666,666 shares during the last quarter. Cannell Capital LLC bought a new stake in Great Ajax in the 4th quarter valued at about $1,716,000. Pacific Ridge Capital Partners LLC raised its stake in Great Ajax by 19.3% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 737,194 shares of the real estate investment trust’s stock valued at $3,907,000 after acquiring an additional 119,283 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Great Ajax by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,217,207 shares of the real estate investment trust’s stock worth $4,625,000 after purchasing an additional 114,046 shares during the period. Institutional investors and hedge funds 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.