Great Ajax Corp

NYSE:AJXUnited States

May 3, 2024

Show headlines and story abstract

• Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2024, from 4:05PM ET on Friday May 03, 2024 by Business Wire

  4:05PM ET on Friday May 03, 2024 by Business Wire
  Companies Mentioned: AJX

  --

  Great Ajax Corp. (NYSE: AJX), a Maryland corporation that is a real estate investment trust ("REIT"), announces its results of operations for the quarter ended March 31, 2024. We focus primarily on acquiring, investing in and managing a portfolio of re-performing mortgage loans ("RPLs") and non-performing loans ("NPLs") secured by single-family residences and commercial properties. In addition to our continued focus on RPLs and NPLs, we also originate and acquire small-balance commercial loans ("SBC loans") secured by multi-family retail/residential and mixed use properties.

• Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2024, from 4:05PM ET on Friday May 03, 2024 by Dow Jones

  4:05PM ET on Friday May 03, 2024 by Dow Jones
  Companies Mentioned: AJX
  -------- -------- -------- -------- Total expense 5,698 5,752 5,865 6,343 -------- -------- -------- -------- Consolidated operating loss $ (4,806) $ (1,834) $ (2,266) $ (2,544) ======== ======== ======== ======== Basic operating loss per common share $ (0.16) $ (0.07) $ (0.09) $ (0.11) ======== ======== ======== ======== Diluted operating loss per common share $ (0.16) $ (0.07) $ (0.09) $ (0.11) ======== ======== ======== ======== Reconciliation to GAAP net loss Consolidated operating loss $ (4,806) $ (1,834) $ (2,266) $ (2,544) Mark to market loss on joint venture refinancing -- -- (1,215) (8,814) Mark to market loss on mortgage loans held-for-sale, net (47,307) (8,559) -- -- Management termination fee (15,506) -- -- -- Realized loss on sale of securities -- -- (373) -- Net (increase)/decrease in the net present value of expected credit losses (4,230) (11,294) (330) 2,866 Fair value adjustment on put option liability and warrants (1,353) (490) (540) (1,839) Other adjustments 125 (368) (893) (950) -------- -------- -------- -------- Loss before provision for income taxes (73,077) (22,545) (5,617) (11,281) -------- -------- -------- -------- Provision for income taxes (benefit) 915 69 (100) 181 Consolidated net loss/(income) attributable to non-controlling interest 14 (35) (25) (24) -------- -------- -------- -------- Consolidated net loss attributable to the Company (73,978) (22,649) (5,542) (11,486) -------- -------- -------- -------- Dividends on preferred stock (341) (548) (547) (548) -------- -------- -------- -------- Consolidated net loss attributable to common stockholders $ (74,319) $ (23,197) $ (6,089) $ (12,034) ======== ======== ======== ======== Basic loss per common share $ (2.41) $ (0.86) $ (0.25) $ (0.51) ======== ======== ======== ======== Diluted loss per common share $ (2.41) $ (0.86) $ (0.25) $ (0.51) ======== ======== ======== ========
  

• Press Release: Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2024, from 4:05PM ET on Friday May 03, 2024 by Dow Jones

  4:05PM ET on Friday May 03, 2024 by Dow Jones
  Companies Mentioned: AJX