Great Ajax Corp to Post Q4 2018 Earnings of $0.38 Per Share, B. Riley Forecasts (AJX)

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Great Ajax Corp (NYSE:AJX) – Stock analysts at B. Riley dropped their Q4 2018 earnings per share (EPS) estimates for Great Ajax in a research report issued to clients and investors on Thursday, January 10th. B. Riley analyst T. Hayes now forecasts that the real estate investment trust will earn $0.38 per share for the quarter, down from their prior forecast of $0.44. B. Riley also issued estimates for Great Ajax’s Q1 2019 earnings at $0.38 EPS, Q2 2019 earnings at $0.40 EPS, Q3 2019 earnings at $0.40 EPS, Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.60 EPS, Q1 2020 earnings at $0.41 EPS, Q2 2020 earnings at $0.42 EPS, Q3 2020 earnings at $0.44 EPS, Q4 2020 earnings at $0.46 EPS and FY2020 earnings at $1.74 EPS.

Great Ajax (NYSE:AJX) last issued its quarterly earnings data on Tuesday, November 6th. The real estate investment trust reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.10). The business had revenue of $14.75 million during the quarter, compared to analysts’ expectations of $15.22 million. Great Ajax had a return on equity of 9.04% and a net margin of 48.10%.

Separately, Zacks Investment Research upgraded Great Ajax from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Great Ajax presently has an average rating of “Hold” and an average target price of $16.50.

AJX opened at $12.74 on Friday. Great Ajax has a 52 week low of $11.56 and a 52 week high of $13.98. The firm has a market cap of $241.55 million, a PE ratio of 8.11 and a beta of 0.66. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 2.21.

The company also recently declared a special dividend, which will be paid on Thursday, January 31st. Stockholders of record on Tuesday, January 15th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, January 14th. This represents a dividend yield of 10.43%. Great Ajax’s dividend payout ratio is currently 81.53%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AJX. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Great Ajax in the third quarter valued at $220,000. Acadian Asset Management LLC acquired a new stake in Great Ajax in the third quarter valued at $288,000. First Trust Advisors LP raised its stake in Great Ajax by 39.6% in the third quarter. First Trust Advisors LP now owns 25,444 shares of the real estate investment trust’s stock valued at $346,000 after buying an additional 7,220 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Great Ajax by 18.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 32,000 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 5,000 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Great Ajax by 7.8% in the second quarter. California Public Employees Retirement System now owns 61,315 shares of the real estate investment trust’s stock valued at $802,000 after buying an additional 4,415 shares in the last quarter. Institutional investors and hedge funds own 68.31% of the company’s stock.

Great Ajax Company Profile

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, such as one to four unit homes and smaller commercial properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases.

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

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