Wall Street brokerages expect Great Ajax Corp (NYSE:AJX) to report $15.07 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Great Ajax’s earnings. The highest sales estimate is $16.02 million and the lowest is $13.80 million. Great Ajax reported sales of $14.75 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.2%. The business is scheduled to announce its next earnings report on Tuesday, November 5th.
On average, analysts expect that Great Ajax will report full-year sales of $64.88 million for the current year, with estimates ranging from $63.33 million to $67.20 million. For the next fiscal year, analysts anticipate that the firm will post sales of $64.59 million, with estimates ranging from $60.50 million to $66.96 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Great Ajax.
Great Ajax (NYSE:AJX) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.09). Great Ajax had a return on equity of 8.05% and a net margin of 51.93%. The company had revenue of $20.70 million for the quarter, compared to analysts’ expectations of $14.90 million.
Several research firms recently commented on AJX. Zacks Investment Research upgraded shares of Great Ajax from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Friday, August 9th. Piper Jaffray Companies set a $15.00 price target on shares of Great Ajax and gave the company a “buy” rating in a report on Wednesday, August 7th.
NYSE AJX traded down $0.22 during mid-day trading on Friday, hitting $14.32. The company’s stock had a trading volume of 54,105 shares, compared to its average volume of 88,403. Great Ajax has a 52-week low of $11.56 and a 52-week high of $14.84. The stock’s fifty day simple moving average is $14.03 and its two-hundred day simple moving average is $13.64. The company has a debt-to-equity ratio of 1.81, a current ratio of 2.27 and a quick ratio of 2.27. The firm has a market capitalization of $285.77 million, a P/E ratio of 9.81 and a beta of 0.81.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.28 annualized dividend and a yield of 8.94%. Great Ajax’s payout ratio is 87.67%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Great Ajax by 10.4% in the second quarter. BlackRock Inc. now owns 1,366,050 shares of the real estate investment trust’s stock valued at $19,126,000 after buying an additional 128,172 shares during the period. Vanguard Group Inc. raised its stake in shares of Great Ajax by 4.0% during the second quarter. Vanguard Group Inc. now owns 996,032 shares of the real estate investment trust’s stock valued at $13,944,000 after purchasing an additional 38,571 shares during the period. Pacific Ridge Capital Partners LLC raised its stake in shares of Great Ajax by 14.0% during the first quarter. Pacific Ridge Capital Partners LLC now owns 351,918 shares of the real estate investment trust’s stock valued at $4,835,000 after purchasing an additional 43,102 shares during the period. Northern Trust Corp raised its stake in shares of Great Ajax by 3.1% during the second quarter. Northern Trust Corp now owns 193,708 shares of the real estate investment trust’s stock valued at $2,712,000 after purchasing an additional 5,875 shares during the period. Finally, Family Management Corp raised its stake in shares of Great Ajax by 15.5% during the second quarter. Family Management Corp now owns 183,816 shares of the real estate investment trust’s stock valued at $2,573,000 after purchasing an additional 24,613 shares during the period. Hedge funds and other institutional investors own 71.19% of the company’s stock.
About Great Ajax
Great Ajax Corp. acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans. It also holds real estate-owned properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases. The company elected to be taxed as a real estate investment trust for U.S.
Further Reading: Compound Annual Growth Rate (CAGR)
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