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Brokers Set Expectations for Great Ajax Corp.'s Q1 2023 Earnings (NYSE:AJX)

Defense World · Jul 23, 2022 03:02

Great Ajax Corp. (NYSE:AJX – Get Rating) – Equities researchers at B. Riley issued their Q1 2023 earnings per share estimates for Great Ajax in a note issued to investors on Thursday, July 21st. B. Riley analyst M. Howlett expects that the real estate investment trust will post earnings per share of $0.36 for the quarter. B. Riley has a "Buy" rating and a $17.00 price objective on the stock. The consensus estimate for Great Ajax's current full-year earnings is $0.99 per share. B. Riley also issued estimates for Great Ajax's Q2 2023 earnings at $0.37 EPS, Q3 2023 earnings at $0.38 EPS, Q4 2023 earnings at $0.39 EPS and FY2023 earnings at $1.50 EPS.

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Several other research analysts also recently commented on AJX. Compass Point upgraded Great Ajax from a "neutral" rating to a "buy" rating and set a $16.00 price objective on the stock in a report on Tuesday, May 17th. StockNews.com started coverage on Great Ajax in a report on Thursday, March 31st. They issued a "hold" rating on the stock. Finally, JMP Securities decreased their price objective on Great Ajax from $15.00 to $11.00 and set a "market outperform" rating on the stock in a report on Tuesday, April 26th.

Great Ajax Stock Up 0.1 %

AJX opened at $10.37 on Friday. The company has a market cap of $240.38 million, a P/E ratio of 8.17 and a beta of 1.74. The business's 50-day moving average price is $9.95 and its 200-day moving average price is $10.88. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.72. Great Ajax has a 12 month low of $8.68 and a 12 month high of $14.74.

Great Ajax (NYSE:AJX – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.21). Great Ajax had a net margin of 53.18% and a return on equity of 9.55%. During the same period in the previous year, the company posted $0.30 EPS.

Institutional Trading of Great Ajax

Large investors have recently bought and sold shares of the company. Amalgamated Bank bought a new stake in shares of Great Ajax in the 1st quarter worth approximately $31,000. MetLife Investment Management LLC boosted its position in shares of Great Ajax by 54.3% in the 1st quarter. MetLife Investment Management LLC now owns 12,130 shares of the real estate investment trust's stock worth $142,000 after purchasing an additional 4,270 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Great Ajax by 73.5% in the 4th quarter. BNP Paribas Arbitrage SA now owns 10,861 shares of the real estate investment trust's stock worth $143,000 after purchasing an additional 4,600 shares in the last quarter. Claybrook Capital LLC boosted its position in shares of Great Ajax by 65.4% in the 2nd quarter. Claybrook Capital LLC now owns 33,902 shares of the real estate investment trust's stock worth $325,000 after purchasing an additional 13,400 shares in the last quarter. Finally, Raymond James & Associates bought a new position in Great Ajax in the 4th quarter valued at approximately $366,000. 80.85% of the stock is owned by institutional investors.

Insider Activity at Great Ajax

In related news, major shareholder Magnetar Financial Llc sold 200,000 shares of the business's stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $24.48, for a total transaction of $4,896,000.00. Following the transaction, the insider now owns 111,383 shares in the company, valued at approximately $2,726,655.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.00% of the stock is owned by company insiders.

Great Ajax Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Monday, May 16th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, May 13th. This represents a $1.04 dividend on an annualized basis and a yield of 10.03%. Great Ajax's dividend payout ratio is presently 81.89%.

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.