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Fintel reports that on April 21, 2023, JMP Securities maintained coverage of Great Ajax (NYSE:AJX) with a Outperform recommendation.

Analyst Price Forecast Suggests 77.85% Upside

As of April 6, 2023, the average one-year price target for Great Ajax is $11.93. The forecasts range from a low of $10.60 to a high of $14.70. The average price target represents an increase of 77.85% from its latest reported closing price of $6.71.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Great Ajax is $49MM, an increase of 40.83%. The projected annual non-GAAP EPS is $1.06.

Great Ajax Declares $0.25 Dividend

On March 2, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of March 17, 2023 received the payment on March 31, 2023. Previously, the company paid $0.27 per share.

At the current share price of $6.71 / share, the stock's dividend yield is 14.90%. Looking back five years and taking a sample every week, the average dividend yield has been 9.11%, the lowest has been 5.26%, and the highest has been 22.65%. The standard deviation of yields is 2.85 (n=236).

The current dividend yield is 2.03 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -1.54. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.19%.

What is the Fund Sentiment?

There are 107 funds or institutions reporting positions in Great Ajax. This is a decrease of 12 owner(s) or 10.08% in the last quarter. Average portfolio weight of all funds dedicated to AJX is 0.08%, a decrease of 37.69%. Total shares owned by institutions decreased in the last three months by 0.49% to 15,177K shares.

The put/call ratio of AJX is 0.09, indicating a bullish outlook.

What are Other Shareholders Doing?

Wellington Management Group Llp holds 3,956K shares representing 17.10% ownership of the company. No change in the last quarter.

FRIFX - Fidelity Real Estate Income Fund holds 1,663K shares representing 7.19% ownership of the company. No change in the last quarter.

State Of Michigan Retirement System holds 932K shares representing 4.03% ownership of the company. No change in the last quarter.

Pacific Ridge Capital Partners holds 753K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 764K shares, representing a decrease of 1.51%. The firm decreased its portfolio allocation in AJX by 99.91% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 673K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 633K shares, representing an increase of 5.88%. The firm decreased its portfolio allocation in AJX by 5.28% over the last quarter.

Great Ajax Background Information
(This description is provided by the company.)

Great Ajax Corp. is a Maryland corporation that is a real estate investment trust, that focuses primarily on acquiring, investing in and managing RPLs secured by single-family residences and commercial properties and, to a lesser extent, NPLs. It also originates and acquires loans secured by multi-family residential and smaller commercial mixed use retail/residential properties and acquire multi-family retail/residential and mixed use and commercial properties. The Company is externally managed by Thetis Asset Management LLC. Its mortgage loans and other real estate assets are serviced by Gregory Funding LLC, an affiliated entity. It's elected to be taxed as a real estate investment trust under the Internal Revenue Code.

See all Great Ajax regulatory filings.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.