Piper Jaffray Initiates Coverage on Great Ajax Corp to Overweight

Piper Jaffray Initiates Coverage on Great Ajax Corp(NYSE:AJX). The shares have been rated Overweight. The rating by Piper Jaffray was issued on Jun 20, 2016.

Great Ajax Corp (AJX) shares turned negative on Fridays trading session with the shares closing down -0.24 points or -1.79% at a volume of 8,81,152. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.39. The peak price level was also seen at $13.39 while the days lowest was $13.02. Finally the shares closed at $13.14. The 52-week high of the shares is $14.44 while the 52-week low is $9.06. According to the latest information available, the market cap of the company is $209 M.

Great Ajax Corp(AJX) last announced its earnings results on May 3, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $11.41M. Analysts had an estimated revenue of $6.02M. Earnings per share were $0.50.

Several Insider Transactions has been reported to the SEC. On Jun 14, 2016, Lawrence Mendelsohn (CEO) purchased 18,000 shares at $13.25 per share price.Also, On Jun 14, 2016, Mary B Doyle (CFO) purchased 4,271 shares at $13.10 per share price.On Jun 14, 2016, Russell Schaub (PRESIDENT) purchased 7,547 shares at $13.25 per share price, according to the Form-4 filing with the securities and exchange commission.

Great Ajax Corp. is an externally managed real estate company. The Company is focused on acquiring investing in and managing a portfolio of re-performing and non-performing mortgage loans secured by single-family residences and to a lesser extent single-family properties. It also invests in loans secured by multi-family residential and commercial mixed use retail/residential properties as well as in the properties directly. The multi-family and commercial mixed-use properties have loan values of up to approximately $5 million. The Company is managed by Thetis Asset Management LLC. Thetis TRS is a wholly owned subsidiary of the Company’s operating partnership that owns its 19.8% equity interest in the Manager. As of December 31 2014 the Company’s 1340 loan portfolio consisted of 72.7% of re-performing loans and 27.3% of non-performing loans. The Company conducts its business through its operating partnership Great Ajax Operating Partnership L.P. and its subsidiaries.

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