Beach Point Capital Management LP Increases Holdings in Great Ajax Corp. (NYSE:AJX)

Beach Point Capital Management LP increased its stake in shares of Great Ajax Corp. (NYSE:AJX) by 15.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 400,000 shares of the real estate investment trust’s stock after purchasing an additional 54,913 shares during the period. Great Ajax accounts for 1.0% of Beach Point Capital Management LP’s investment portfolio, making the stock its 18th largest position. Beach Point Capital Management LP owned about 1.69% of Great Ajax worth $2,452,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in AJX. Raymond James & Associates boosted its holdings in Great Ajax by 38.0% in the 1st quarter. Raymond James & Associates now owns 38,344 shares of the real estate investment trust’s stock valued at $450,000 after purchasing an additional 10,566 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Great Ajax during the first quarter worth about $536,000. MetLife Investment Management LLC increased its stake in 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 acquiring an additional 4,270 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Great Ajax by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 57,853 shares of the real estate investment trust’s stock valued at $679,000 after acquiring an additional 1,545 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Great Ajax by 5.1% during the 1st quarter. Renaissance Technologies LLC now owns 165,248 shares of the real estate investment trust’s stock valued at $1,938,000 after acquiring an additional 8,000 shares during the last quarter. Institutional investors own 58.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Great Ajax in a research report on Saturday. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.88.

Great Ajax Price Performance

AJX stock traded up $0.12 during mid-day trading on Friday, hitting $4.56. 184,752 shares of the stock were exchanged, compared to its average volume of 157,053. The business has a fifty day moving average price of $5.67 and a 200 day moving average price of $6.06. The stock has a market capitalization of $125.26 million, a price-to-earnings ratio of -3.23 and a beta of 1.88. Great Ajax Corp. has a 12 month low of $4.08 and a 12 month high of $9.24. The company has a debt-to-equity ratio of 1.84, a current ratio of 2.00 and a quick ratio of 2.00.

Great Ajax Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 9.65%. The ex-dividend date of this dividend is Tuesday, November 14th. Great Ajax’s dividend payout ratio (DPR) is presently -31.21%.

About Great Ajax

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.