StockNews.com Begins Coverage on Great Ajax (NYSE:AJX)

Equities researchers at StockNews.com started coverage on shares of Great Ajax (NYSE:AJX) in a report issued on Thursday. The brokerage set a “sell” rating on the real estate investment trust’s stock.

Separately, BTIG Research assumed coverage on shares of Great Ajax in a research note on Tuesday, September 10th. They set a “neutral” rating for the company.

Great Ajax Price Performance

The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.51 and a current ratio of 1.51. Great Ajax has a 12-month low of $2.92 and a 12-month high of $6.01. The stock’s 50 day moving average price is $3.14 and its 200 day moving average price is $3.35. The firm has a market capitalization of $137.17 million, a price-to-earnings ratio of -0.80 and a beta of 1.88.

Great Ajax (NYSE:AJX) last announced its earnings results on Monday, October 21st. The real estate investment trust reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.26. The business had revenue of $12.35 million for the quarter. Great Ajax had a negative net margin of 203.61% and a negative return on equity of 8.35%. During the same period in the previous year, the firm earned ($0.25) earnings per share. Equities analysts expect that Great Ajax will post -2.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Great Ajax

A number of hedge funds have recently added to or reduced their stakes in the company. Barclays PLC acquired a new position in Great Ajax during the 3rd quarter worth approximately $81,000. Geode Capital Management LLC raised its position in Great Ajax by 42.6% in the third quarter. Geode Capital Management LLC now owns 460,256 shares of the real estate investment trust’s stock worth $1,533,000 after acquiring an additional 137,578 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Great Ajax by 18.9% in the third quarter. Wellington Management Group LLP now owns 5,332,822 shares of the real estate investment trust’s stock valued at $17,758,000 after acquiring an additional 848,688 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Great Ajax during the 3rd quarter worth $62,000. Finally, Raffles Associates LP boosted its position in shares of Great Ajax by 82.7% during the 3rd quarter. Raffles Associates LP now owns 73,280 shares of the real estate investment trust’s stock worth $244,000 after purchasing an additional 33,161 shares in the last quarter. 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.