Great Ajax Corp. (NYSE:AJX) Expected to Post Quarterly Sales of $15.62 Million

Equities research analysts expect that Great Ajax Corp. (NYSE:AJX) will post sales of $15.62 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Great Ajax’s earnings. The highest sales estimate is $16.65 million and the lowest is $14.90 million. Great Ajax posted sales of $12.22 million in the same quarter last year, which would indicate a positive year over year growth rate of 27.8%. The firm is scheduled to announce its next earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Great Ajax will report full-year sales of $60.22 million for the current financial year, with estimates ranging from $58.10 million to $61.75 million. For the next financial year, analysts forecast that the firm will report sales of $73.07 million, with estimates ranging from $64.50 million to $78.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Great Ajax.

Great Ajax (NYSE:AJX) last posted its quarterly earnings data on Wednesday, August 4th. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.11. Great Ajax had a net margin of 62.49% and a return on equity of 10.54%.

A number of equities analysts have recently issued reports on AJX shares. B. Riley increased their price objective on shares of Great Ajax from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, August 17th. Zacks Investment Research upgraded shares of Great Ajax from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, August 10th. Compass Point started coverage on shares of Great Ajax in a report on Wednesday, June 30th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Raymond James upped their target price on shares of Great Ajax from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Friday, May 21st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Great Ajax presently has a consensus rating of “Buy” and a consensus price target of $16.80.

Several institutional investors and hedge funds have recently bought and sold shares of AJX. Pacific Ridge Capital Partners LLC grew its holdings in Great Ajax by 38.4% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 826,244 shares of the real estate investment trust’s stock worth $9,006,000 after acquiring an additional 229,109 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Great Ajax by 493.7% during the 2nd quarter. Wells Fargo & Company MN now owns 156,790 shares of the real estate investment trust’s stock worth $2,035,000 after acquiring an additional 130,382 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Great Ajax during the 1st quarter worth about $1,372,000. Renaissance Technologies LLC grew its holdings in Great Ajax by 196.3% during the 1st quarter. Renaissance Technologies LLC now owns 134,183 shares of the real estate investment trust’s stock worth $1,463,000 after acquiring an additional 88,900 shares during the last quarter. Finally, Centiva Capital LP grew its holdings in Great Ajax by 69.8% during the 1st quarter. Centiva Capital LP now owns 175,726 shares of the real estate investment trust’s stock worth $1,915,000 after acquiring an additional 72,228 shares during the last quarter. 70.15% of the stock is currently owned by institutional investors and hedge funds.

NYSE:AJX traded up $0.03 during trading hours on Friday, hitting $13.60. 253 shares of the company traded hands, compared to its average volume of 83,771. Great Ajax has a twelve month low of $7.57 and a twelve month high of $14.27. The stock has a market capitalization of $311.85 million, a price-to-earnings ratio of 9.98 and a beta of 1.80. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 1.98. The firm has a 50-day moving average of $13.40 and a 200 day moving average of $12.63.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Monday, August 16th were issued a $0.21 dividend. This is a positive change from Great Ajax’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, August 13th. This represents a $0.84 annualized dividend and a dividend yield of 6.18%. Great Ajax’s dividend payout ratio is presently 90.32%.

Great Ajax Company Profile

Great Ajax Corp. operates as a real estate investment trust. The firm acquires, invests and manages a portfolio of mortgage loans secured by single-family residences and single-family properties. It holds real-estate owned properties acquired upon the foreclosure, other settlement of owned non-performing loans, or that acquires in the market.

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Earnings History and Estimates for Great Ajax (NYSE:AJX)

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