The lowest price of shares of Great Ajax Corp. down 52 weeks at $2.98 amid market volatility by Investing.com
In a challenging economic environment, The main company of Ajax Corp (NYSE: ) stock touched a 52-week low, reaching a price level of $2.98. This drop represents a significant reversal from previous market positions, marking a change of -34.68% over the past year. Investors are closely monitoring the company’s performance as it navigates the storms that have impacted its market structure. The 52-week low serves as an important indicator for shareholders and potential investors, who are now evaluating the company’s strategy and ability to survive in a volatile market environment.
In other recent news, Great Ajax Corp recorded a GAAP loss of $8 million and negative earnings distribution during its Q3 2024 call. However, the company maintained a dividend yield of 7.2%. Under the new management of Rithm Capital Corp, Great Ajax is changing to a mortgage real estate investment trust (mREIT), analysts at B.Riley expect this change to lead to profits from the beginning of 2025.
The company is undergoing a transition to commercial mortgage-backed securities (CMBS), with the goal of achieving earnings before Q1 2025. This includes selling down residential properties and reinvesting in real estate debt, as evidenced by the recent bid at $1. billion in debt.
B.Riley revised Great Ajax’s earnings per share (EPS) forecast for fiscal year 2025, down from $0.45 to $0.39 and presented its FY2026 EPS estimate at $0.62. The company reaffirmed its buy rating and $6.00 price target on Great Ajax, expecting a dividend by the end of the first quarter of 2025. This is part of the latest development in the company’s strategic shift.
InvestingPro Insights
Great Ajax Corp’s (AJX) recent touch on the 52-week low alignment with several key insights from InvestingPro. The stock’s current price of $3.03 represents just 49.75% of its 52-week high, underscoring the major downside mentioned in the article. This decline is also reflected in the year-to-date price return of 38.15%, reflecting the challenging year the company has faced.
Despite these headwinds, AJX offers a high dividend yield of 7.92%, which can attract cash-oriented investors. InvestingPro’s tip highlights that the company has maintained dividend payments for 10 consecutive years, demonstrating its commitment to shareholder returns even in difficult times.
Another InvestingPro tip suggests that analysts expect revenue to grow this year, which may indicate a turnaround from the company’s current unprofitable performance over the past twelve months. These projections can provide a glimmer of hope for investors looking beyond the current market challenges.
For those who want a deeper understanding of Great Ajax Corp’s financial health and future prospects, InvestingPro offers 8 additional tips that may prove useful in assessing the company’s sustainability potential.
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