Great Ajax Corp. (NYSE:AJX) Increases Dividend to $0.27 Per Share

Great Ajax Corp. (NYSE:AJXGet Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Monday, August 15th will be given a dividend of 0.27 per share by the real estate investment trust on Wednesday, August 31st. This represents a $1.08 annualized dividend and a yield of 10.66%. The ex-dividend date of this dividend is Friday, August 12th. This is a boost from Great Ajax’s previous quarterly dividend of $0.26.

Great Ajax has a dividend payout ratio of 74.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Great Ajax to earn $1.39 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 74.8%.

Great Ajax Stock Down 6.3 %

NYSE AJX opened at $10.13 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 1.72. The company has a fifty day moving average of $10.14 and a two-hundred day moving average of $10.71. The firm has a market capitalization of $234.81 million, a price-to-earnings ratio of 22.51 and a beta of 1.74. Great Ajax has a 52 week low of $8.68 and a 52 week high of $14.74.

Great Ajax (NYSE:AJXGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.15 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.21). Great Ajax had a return on equity of 8.96% and a net margin of 33.63%. During the same quarter in the previous year, the business earned $0.30 EPS. On average, analysts predict that Great Ajax will post 1.05 earnings per share for the current year.

Insider Activity

In other news, major shareholder Magnetar Financial Llc sold 800,000 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $24.90, for a total transaction of $19,920,000.00. Following the transaction, the insider now owns 56,917 shares in the company, valued at $1,417,233.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,200,000 shares of company stock worth $29,722,000 over the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Great Ajax

Large investors have recently bought and sold shares of the company. MetLife Investment Management LLC boosted its position in Great Ajax by 54.3% in the first quarter. MetLife Investment Management LLC now owns 12,130 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 4,270 shares during the last quarter. Invesco Ltd. boosted its position in Great Ajax by 6.0% in the first quarter. Invesco Ltd. now owns 37,875 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 2,145 shares during the last quarter. Raymond James & Associates boosted its position in Great Ajax by 38.0% in the 1st quarter. Raymond James & Associates now owns 38,344 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 10,566 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Great Ajax in the 1st quarter worth approximately $536,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Great Ajax by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 57,853 shares of the real estate investment trust’s stock worth $679,000 after purchasing an additional 1,545 shares in the last quarter. Hedge funds and other institutional investors own 80.85% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AJX shares. JMP Securities lowered their target price on shares of Great Ajax from $15.00 to $11.00 and set a “market outperform” rating for the company in a research note on Tuesday, April 26th. B. Riley lowered their price objective on shares of Great Ajax from $18.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. StockNews.com lowered shares of Great Ajax from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Compass Point raised shares of Great Ajax from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, May 17th.

About Great Ajax

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Great Ajax Corp., real estate company, acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans. The company also holds real estate owned properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases.

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Dividend History for Great Ajax (NYSE:AJX)

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