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

Wall Street brokerages expect Great Ajax Corp. (NYSE:AJX) to post sales of $15.62 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Great Ajax’s earnings, with estimates ranging from $14.90 million to $16.65 million. Great Ajax reported sales of $12.22 million in the same quarter last year, which indicates a positive year over year growth rate of 27.8%. The company is expected to issue 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 year, with estimates ranging from $58.10 million to $61.75 million. For the next fiscal 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 calculations are a mean average based on a survey of sell-side analysts that cover Great Ajax.

Great Ajax (NYSE:AJX) last issued its earnings results on Wednesday, August 4th. The real estate investment trust reported $0.42 EPS for the quarter, beating the Zacks’ 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%.

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

Several hedge funds and other institutional investors have recently bought and sold shares of AJX. Vanguard Group Inc. raised its position in shares of Great Ajax by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,078,727 shares of the real estate investment trust’s stock worth $14,003,000 after buying an additional 54,508 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its position in Great Ajax by 8.1% during the second quarter. Pacific Ridge Capital Partners LLC now owns 892,944 shares of the real estate investment trust’s stock valued at $11,590,000 after purchasing an additional 66,700 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Great Ajax by 7.0% during the second quarter. Hotchkis & Wiley Capital Management LLC now owns 406,323 shares of the real estate investment trust’s stock valued at $5,274,000 after purchasing an additional 26,490 shares in the last quarter. Geode Capital Management LLC grew its position in Great Ajax by 16.2% in the second quarter. Geode Capital Management LLC now owns 362,880 shares of the real estate investment trust’s stock worth $4,710,000 after acquiring an additional 50,605 shares in the last quarter. Finally, State Street Corp grew its position in Great Ajax by 4.5% in the second quarter. State Street Corp now owns 356,610 shares of the real estate investment trust’s stock worth $4,629,000 after acquiring an additional 15,241 shares in the last quarter. 70.15% of the stock is owned by institutional investors and hedge funds.

Shares of AJX stock traded up $0.03 during mid-day trading on Friday, reaching $13.60. The company’s stock had a trading volume of 253 shares, compared to its average volume of 83,771. The company’s 50 day simple moving average is $13.40 and its 200-day simple moving average is $12.63. Great Ajax has a 12-month low of $7.57 and a 12-month high of $14.27. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $311.85 million, a PE ratio of 9.98 and a beta of 1.80.

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