AJX Stock Overview
Great Ajax Corp., real estate company, acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans.
Great Ajax Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$9.77|
|52 Week High||US$14.74|
|52 Week Low||US$8.68|
|1 Month Change||-0.20%|
|3 Month Change||4.83%|
|1 Year Change||-28.63%|
|3 Year Change||-30.79%|
|5 Year Change||-29.04%|
|Change since IPO||-27.77%|
Recent News & Updates
Great Ajax raises dividend by 3.8% to $0.27/share
Great Ajax (NYSE:AJX) declares $0.27/share quarterly dividend, 3.8% increase from prior dividend of $0.26. Forward yield 9.96% Payable Aug. 31; for shareholders of record Aug. 15; ex-div Aug. 12. See AJX Dividend Scorecard, Yield Chart, & Dividend Growth.
|AJX||US Mortgage REITs||US Market|
Return vs Industry: AJX underperformed the US Mortgage REITs industry which returned -16.8% over the past year.
Return vs Market: AJX underperformed the US Market which returned -8.9% over the past year.
|AJX Average Weekly Movement||5.8%|
|Mortgage REITs Industry Average Movement||5.4%|
|Market Average Movement||7.6%|
|10% most volatile stocks in US Market||17.0%|
|10% least volatile stocks in US Market||3.1%|
Stable Share Price: AJX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: AJX's weekly volatility (6%) has been stable over the past year.
About the Company
Great Ajax Corp., real estate company, acquires, invests in, and manages a portfolio of residential mortgage and small balance commercial mortgage loans. The company also holds real estate owned properties acquired upon the foreclosure or other settlement of its non-performing loans, as well as through outright purchases. In addition, it acquires and originates small balance commercial loans (SBC) secured by multi-family residential and commercial mixed-use retail/residential properties; and invests in single-family and smaller commercial properties through a foreclosure event of a loan or a direct acquisition.
Great Ajax Fundamentals Summary
|AJX fundamental statistics|
Is AJX overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|AJX income statement (TTM)|
|Cost of Revenue||US$8.21m|
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
|Earnings per share (EPS)||0.48|
|Net Profit Margin||18.31%|
How did AJX perform over the long term?See historical performance and comparison
11.1%Current Dividend Yield
Is AJX undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 4/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for AJX?
Other financial metrics that can be useful for relative valuation.
|What is AJX's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does AJX's PE Ratio compare to its peers?
|AJX PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
REFI Chicago Atlantic Real Estate Finance
SEVN Seven Hills Realty Trust
LFT Lument Finance Trust
AFCG AFC Gamma
AJX Great Ajax
Price-To-Earnings vs Peers: AJX is expensive based on its Price-To-Earnings Ratio (20.2x) compared to the peer average (13.7x).
Price to Earnings Ratio vs Industry
How does AJX's PE Ratio compare vs other companies in the US Mortgage REITs Industry?
Price-To-Earnings vs Industry: AJX is expensive based on its Price-To-Earnings Ratio (20.2x) compared to the US Mortgage REITs industry average (12.6x)
Price to Earnings Ratio vs Fair Ratio
What is AJX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||20.2x|
|Fair PE Ratio||29.6x|
Price-To-Earnings vs Fair Ratio: AJX is good value based on its Price-To-Earnings Ratio (20.2x) compared to the estimated Fair Price-To-Earnings Ratio (29.6x).
Share Price vs Fair Value
What is the Fair Price of AJX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: AJX ($9.77) is trading below our estimate of fair value ($12.22)
Significantly Below Fair Value: AJX is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
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How is Great Ajax forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Future Growth Score4/6
Future Growth Score 4/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: AJX's forecast earnings growth (71.3% per year) is above the savings rate (1.9%).
Earnings vs Market: AJX's earnings (71.3% per year) are forecast to grow faster than the US market (14.5% per year).
High Growth Earnings: AJX's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: AJX's revenue (10.1% per year) is forecast to grow faster than the US market (7.9% per year).
High Growth Revenue: AJX's revenue (10.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if AJX's Return on Equity is forecast to be high in 3 years time
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How has Great Ajax performed over the past 5 years?
Past Performance Score1/6
Past Performance Score 1/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: AJX has high quality earnings.
Growing Profit Margin: AJX's current net profit margins (18.3%) are lower than last year (42.8%).
Past Earnings Growth Analysis
Earnings Trend: AJX's earnings have declined by 1.8% per year over the past 5 years.
Accelerating Growth: AJX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: AJX had negative earnings growth (-67%) over the past year, making it difficult to compare to the Mortgage REITs industry average (-1.6%).
Return on Equity
High ROE: AJX's Return on Equity (4.8%) is considered low.
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How is Great Ajax's financial position?
Financial Health Score3/6
Financial Health Score 3/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: AJX's short term assets ($1.1B) exceed its short term liabilities ($541.2M).
Long Term Liabilities: AJX's short term assets ($1.1B) exceed its long term liabilities ($607.9M).
Debt to Equity History and Analysis
Debt Level: AJX's net debt to equity ratio (250.3%) is considered high.
Reducing Debt: AJX's debt to equity ratio has reduced from 290.8% to 262.1% over the past 5 years.
Debt Coverage: AJX's debt is not well covered by operating cash flow (1%).
Interest Coverage: Insufficient data to determine if AJX's interest payments on its debt are well covered by EBIT.
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What is Great Ajax current dividend yield, its reliability and sustainability?
Dividend Score 2/6
Cash Flow Coverage
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: AJX's dividend (11.05%) is higher than the bottom 25% of dividend payers in the US market (1.47%).
High Dividend: AJX's dividend (11.05%) is in the top 25% of dividend payers in the US market (3.95%)
Stability and Growth of Payments
Stable Dividend: AJX has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: AJX's dividend payments have increased, but the company has only paid a dividend for 8 years.
Earnings Payout to Shareholders
Earnings Coverage: With its high payout ratio (202.1%), AJX's dividend payments are not well covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: With its high cash payout ratio (209.9%), AJX's dividend payments are not well covered by cash flows.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Larry Mendelsohn (61 yo)
Dr. Lawrence A. Mendelsohn, also known as Larry, Ph D., serves as the Chairman and Chief Executive Officer of Great Ajax Corp. since 2014. Dr. Mendelsohn founded Aspen Capital in 1995 and has been its Part...
Experienced Management: AJX's management team is seasoned and experienced (8.6 years average tenure).
Experienced Board: AJX's board of directors are considered experienced (7.9 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Great Ajax Corp.'s employee growth, exchange listings and data sources
- Name: Great Ajax Corp.
- Ticker: AJX
- Exchange: NYSE
- Founded: 2014
- Industry: Mortgage REITs
- Sector: Diversified Financials
- Implied Market Cap: US$222.104m
- Shares outstanding: 22.73m
- Website: https://www.greatajax.com
Number of Employees
- Great Ajax Corp.
- 13190 SW 68th Parkway
- Suite 201
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/08/17 00:00|
|End of Day Share Price||2022/08/17 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.