5 Best Stocks to Buy According to Ron Mass’ Almitas Capital

2. Great Ajax Corp. (NYSE:AJX

Great Ajax Corp. 7.25 CV SR NT 24 (NYSE:AJXA)

Almitas Capital’s Stake Value in AJX: $6,246,000

Percentage of Almitas Capital’s 13F Portfolio: 3.22%

Almitas Capital’s Stake Value in AJXA: $16,907,000

Percentage of Almitas Capital’s 13F Portfolio: 8.73%

Number of Hedge Fund Holders: 9

Almitas Capital held an equity stake in Great Ajax Corp. (NYSE:AJX), consisting of 651,328 shares and the company’s 7.25% convertible senior notes due on 4/30/2024 worth $16.9 million at the end of Q2. Considering the fund’s total exposure to the company, Great Ajax Corp. (NYSE:AJX) ended up becoming Almitas Capital’s second top stock at the end of June. Because of its high dividend yield of around 12% and low stock price, Great Ajax Corp. (NYSE:AJX) was another stock from Almitas Capital’s portfolio that featured in Insider Monkey’s recently published lists of 10 Dividend Stocks with Over 10% Yield and 5 Best Dividend Stocks Under $10.

On August 26, the company announced that its unit Great Ajax Operating Partnership had closed a private offering in which the latter raised $110 million by issuing  8.875% senior unsecured notes due in September 2027. These notes would be guaranteed by Great Ajax Corp. (NYSE:AJX) and two of its subsidiaries. All three analysts from Wall Street who cover the stock currently have a ‘Buy’ rating on it with a consensus price target of $14.67, representing a potential upside of 63% from the stock’s last closing price.