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Jun 30, 2020
Great Ajax Q2 2020 Earnings Report
Great Ajax Corp. announced results for the quarter ended June 30, 2020.
Key Takeaways
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.
Interest income of $23.7 million; net interest income after reversal of provision for credit losses of $15.0 million.
Net income attributable to common stockholders of $6.2 million.
Basic earnings per common share (“EPS”) of $0.27.
Held $163.4 million of cash and cash equivalents at June 30, 2020.
Forward Guidance
Subsequent to the end of the quarter, Great Ajax acquired 239 residential RPLs with aggregate UPB of $45.4 million. The company also priced Ajax Mortgage Loan Trust 2020-B with $97.2 million of AAA-rated senior securities and $17.3 million of A-rated securities issued with respect to $156.5 million of mortgage loans, all of which were RPLs.
Positive Outlook
- Acquired 239 residential RPLs with aggregate UPB of $45.4 million.
- Priced Ajax Mortgage Loan Trust 2020-B with $97.2 million of AAA-rated senior securities.
- Priced Ajax Mortgage Loan Trust 2020-B with $17.3 million of A-rated securities issued with respect to $156.5 million of mortgage loans.
- Weighted average coupon of 1.874% on AAA- and A-rated securities.
- Cost of funds on securities and mortgage loan repurchase lines of credit decreased materially.
Challenges Ahead
- Forward-looking statements are subject to inherent uncertainties.
- Predicting future results and conditions are beyond the control of Great Ajax.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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