Is Great Ajax Corp. overvalued or undervalued?

As of 2 March 2023, Great Ajax Corp. has moved from a very attractive to a risky valuation grade. The company appears to be overvalued given its current financial metrics. Key ratios include a Price to Book Value of 0.41, an EV to EBIT of 1.35, and a Dividend Yield of 464.92%. Notably, the company is loss-making, reflected in its negative P/E ratio of -5.6548.
In comparison to its peers, Great Ajax Corp. is less favorable than Angel Oak Mortgage REIT, Inc., which has a P/E of 5.9128 and is rated very attractive. Other peers such as Industrial Logistics Properties Trust and City Office REIT, Inc. also exhibit higher valuation metrics despite being classified as risky. The company's stock performance has significantly lagged behind the S&P 500, with a 1-year return of -29.68% compared to the index's 10.26%. Overall, the combination of poor returns and unfavorable ratios suggests that Great Ajax Corp. is overvalued.