Raffles Associates LP Sells 9,881 Shares of Great Ajax Corp. (NYSE:AJX)

Raffles Associates LP cut its holdings in Great Ajax Corp. (NYSE:AJX) by 19.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,119 shares of the real estate investment trust’s stock after selling 9,881 shares during the period. Raffles Associates LP’s holdings in Great Ajax were worth $143,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Magnetar Financial LLC bought a new position in shares of Great Ajax in the first quarter worth $35,501,000. EMG Holdings L.P. increased its position in shares of Great Ajax by 608.3% during the fourth quarter. EMG Holdings L.P. now owns 1,940,649 shares of the real estate investment trust’s stock valued at $10,285,000 after buying an additional 1,666,666 shares during the period. Vanguard Group Inc. increased its position in shares of Great Ajax by 10.3% during the first quarter. Vanguard Group Inc. now owns 1,217,207 shares of the real estate investment trust’s stock valued at $4,625,000 after buying an additional 114,046 shares during the period. Pacific Ridge Capital Partners LLC boosted its position in shares of Great Ajax by 19.3% in the fourth 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 during the period. Finally, Cannell Capital LLC purchased a new position in Great Ajax during the fourth quarter valued at approximately $1,716,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Great Ajax Stock Down 1.2 %

AJX stock opened at $3.37 on Tuesday. Great Ajax Corp. has a 1-year low of $3.10 and a 1-year high of $6.67. The stock has a market cap of $133.33 million, a price-to-earnings ratio of -0.84 and a beta of 1.90. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average is $3.46 and its 200 day moving average is $3.54.

Great Ajax Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.24 annualized dividend and a yield of 7.12%. Great Ajax’s dividend payout ratio (DPR) is presently -5.96%.

Analyst Upgrades and Downgrades

Separately, BTIG Research started coverage on shares of Great Ajax in a report on Tuesday, September 10th. They issued a “neutral” rating for the company.

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.