Pacific Ridge Capital Partners LLC Boosts Stake in Great Ajax Corp. (NYSE:AJX)

Pacific Ridge Capital Partners LLC lifted its holdings in Great Ajax Corp. (NYSE:AJX) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737,194 shares of the real estate investment trust’s stock after buying an additional 119,283 shares during the quarter. Pacific Ridge Capital Partners LLC owned 2.68% of Great Ajax worth $3,907,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AJX. Beach Point Capital Management LP acquired a new position in Great Ajax during the fourth quarter worth $12,051,000. Almitas Capital LLC raised its holdings in Great Ajax by 12.1% during the third quarter. Almitas Capital LLC now owns 807,622 shares of the real estate investment trust’s stock worth $5,201,000 after purchasing an additional 87,413 shares during the last quarter. Alberta Investment Management Corp acquired a new position in Great Ajax during the third quarter worth $1,817,000. Cowen AND Company LLC acquired a new position in Great Ajax during the third quarter worth $1,309,000. Finally, Camelot Portfolios LLC raised its holdings in Great Ajax by 41.8% during the fourth quarter. Camelot Portfolios LLC now owns 48,688 shares of the real estate investment trust’s stock worth $258,000 after purchasing an additional 14,348 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AJX shares. StockNews.com cut Great Ajax from a “hold” rating to a “sell” rating in a report on Monday, March 25th. B. Riley reissued a “buy” rating and issued a $6.00 price target (down from $8.00) on shares of Great Ajax in a report on Thursday, March 21st.

Great Ajax Stock Performance

Great Ajax stock traded down $0.06 during trading on Tuesday, hitting $3.27. The company’s stock had a trading volume of 102,168 shares, compared to its average volume of 152,138. The stock’s fifty day moving average is $3.61 and its 200 day moving average is $4.42. Great Ajax Corp. has a 1-year low of $3.22 and a 1-year high of $7.20. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.89 and a current ratio of 1.89.

Great Ajax (NYSE:AJX) last released its earnings results on Monday, February 26th. The real estate investment trust reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.28). The company had revenue of $17.66 million during the quarter, compared to analysts’ expectations of $5.65 million. On average, equities analysts forecast that Great Ajax Corp. will post 0.02 earnings per share for the current year.

Great Ajax Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Wednesday, May 15th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.24 annualized dividend and a yield of 7.34%. Great Ajax’s payout ratio is currently -5.96%.

Great Ajax Profile

Great Ajax Corp. operates as a mortgage real estate investment trust. It acquires re-performing and non-performing loans; acquires or originates small balance commercial mortgage loans that are secured by multi-family residential and commercial mixed use retail/residential properties; and invests in single-family and smaller commercial properties.