Great Ajax Corp. (NYSE:AJX) Sees Significant Increase in Short Interest

Great Ajax Corp. (NYSE:AJX) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 322,400 shares, a growth of 101.0% from the June 15th total of 160,400 shares. Based on an average daily volume of 109,000 shares, the short-interest ratio is currently 3.0 days.

Institutional Investors Weigh In On Great Ajax

Several large investors have recently modified their holdings of AJX. Magnetar Financial LLC acquired a new position in shares of Great Ajax during the 1st quarter worth about $35,501,000. Beach Point Capital Management LP bought a new stake in shares of Great Ajax during the fourth quarter worth $12,051,000. EMG Holdings L.P. lifted its holdings in shares of Great Ajax by 608.3% during the fourth quarter. EMG Holdings L.P. now owns 1,940,649 shares of the real estate investment trust’s stock worth $10,285,000 after purchasing an additional 1,666,666 shares during the period. Cannell Capital LLC acquired a new position in Great Ajax in the fourth quarter valued at $1,716,000. Finally, Pacific Ridge Capital Partners LLC increased its holdings in Great Ajax by 19.3% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 737,194 shares of the real estate investment trust’s stock worth $3,907,000 after purchasing an additional 119,283 shares in the last quarter. 58.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. B. Riley restated a “buy” rating and set a $6.00 price target (down previously from $8.00) on shares of Great Ajax in a research note on Thursday, March 21st. StockNews.com downgraded Great Ajax from a “hold” rating to a “sell” rating in a research note on Monday, March 25th.

Great Ajax Price Performance

Shares of NYSE AJX traded up $0.03 during mid-day trading on Friday, reaching $3.67. The company had a trading volume of 49,930 shares, compared to its average volume of 144,510. Great Ajax has a 1-year low of $3.11 and a 1-year high of $7.20. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.96. The stock has a market cap of $145.19 million, a PE ratio of -0.91 and a beta of 1.88. The company has a 50-day moving average price of $3.49 and a two-hundred day moving average price of $4.11.

Great Ajax Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Wednesday, May 15th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.24 annualized dividend and a yield of 6.54%. Great Ajax’s dividend payout ratio is -5.96%.

Great Ajax Company 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.