Great Ajax Earnings Reports

Great Ajax Corp. announced its financial results for the quarter ended June 30, 2024. The company is transitioning to a flexible commercial real estate focused investment strategy. Michael Nierenberg, Chief Executive Officer of Rithm Capital, expressed excitement about taking over the management of Great Ajax and repositioning the portfolio to capitalize on opportunities in the commercial real estate sector.

Great Ajax Corp. reported a net loss attributable to common stockholders of $(23.2) million, or $(0.86) per common share. The operating loss was $(1.8) million, or $(0.07) per common share. The results were impacted by write-downs on beneficial interests and a mark-to-market loss on mortgage loans held-for-sale.

Great Ajax Corp. reported a net loss attributable to common stockholders of $(6.1) million, or $(0.25) per share, for the quarter ended September 30, 2023. The company's net interest income was $3.0 million, and it held $63.9 million in cash and cash equivalents at the end of the quarter.

Great Ajax Corp. reported a net loss attributable to common stockholders of $(12.0) million, or $(0.51) per common share, for the quarter ended June 30, 2023. The company's net interest income, excluding any adjustment for expected credit losses, was $3.3 million. They entered into a merger agreement with Ellington Financial Inc. expected to close prior to year-end.

Great Ajax Corp. reported a net loss attributable to common stockholders of $(7.9) million, or $(0.34) per common share, for the quarter ended March 31, 2023. The company's net interest income was $3.5 million. They collected $43.6 million of cash during the quarter and held $49.4 million in cash and cash equivalents at quarter end.

Great Ajax Corp. reported a net loss attributable to common stockholders of $(16.2) million, or $(0.71) per basic common share, for the quarter ended September 30, 2022. Operating income, a non-GAAP financial measure, was $3.1 million, or $0.14 per common share. The company repurchased and retired $66.0 million face amount of its preferred stock and associated warrants during the quarter.

Great Ajax Corp. reported a consolidated net loss of $(4.781) million for the quarter ended June 30, 2022, with a net loss attributable to common stockholders of $(9.181) million, or $(0.40) per common share. The results were impacted by losses on joint venture refinancing and the retirement of preferred stock and associated warrants. Operating income, a non-GAAP measure, was $5.7 million, or $0.25 per common share. The company collected $74.0 million in cash during the quarter and held $51.6 million in cash and cash equivalents at the end of the quarter.

Great Ajax Corp. announced results for the quarter ended March 31, 2022, with a net income attributable to common stockholders of $3.6 million and basic earnings per share of $0.15. The company collected $85.3 million of cash from loan payments, sales of REO properties, and collections from investments, ending the quarter with $70.7 million in cash and cash equivalents.

Great Ajax Corp. reported a net income attributable to common stockholders of $9.3 million, with a basic earnings per share of $0.40. The company purchased $87.5 million of non-performing loans and $0.5 million of re-performing mortgage loans. They ended the quarter with $92.8 million in cash and cash equivalents.

Great Ajax Corp. reported a net income attributable to common stockholders of $10.4 million and basic earnings per share of $0.45 for the quarter ended June 30, 2021. The increase in net income was primarily due to a decrease in interest expense as the company refinanced borrowings at lower rates, which was offset by lower interest income on loans.

Great Ajax Corp. reported a net income attributable to common stockholders of $7.0 million and basic earnings per share of $0.30 for the quarter ended March 31, 2021. The company purchased $31.6 million re-performing mortgage loans, $0.4 million of non-performing mortgage loans, and $3.6 million small-balance commercial loans during the quarter, ending with $1.1 billion in net mortgage loans.

Great Ajax Corp. reported a net income attributable to common stockholders of $5.3 million and basic earnings per common share of $0.23 for the quarter ended September 30, 2020. The company collected total cash of $56.4 million from loan payments, sales of REO, and investments in debt securities and beneficial interests, and held $135.2 million of cash and cash equivalents at the end of the quarter.

Great Ajax Corp. reported a net income attributable to common stockholders of $6.2 million and basic earnings per common share of $0.27 for the quarter ended June 30, 2020. The company's book value per common share was $15.20 at the end of the quarter, and they held $163.4 million in cash and cash equivalents.

Great Ajax Corp. announced its results of operations for the quarter ended March 31, 2020. The company reported a net income attributable to common stockholders of $0.4 million, with basic earnings per share of $0.02. The company collected total cash of $62.4 million from loan payments, sales of REO and investments in debt securities and beneficial interests. The company held $31.2 million of cash and cash equivalents at March 31, 2020.