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Great Ajax Corp. - AJX STOCK NEWS

Welcome to our dedicated page for Great Ajax news (Ticker: AJX), a resource for investors and traders seeking the latest updates and insights on Great Ajax stock.

Great Ajax Corp. (NYSE: AJX) is an externally managed real estate investment trust (REIT) based in Beaverton, Oregon. Specializing in the acquisition, investment, and management of mortgage loans, Great Ajax focuses on re-performing loans (RPLs) and non-performing loans (NPLs) secured by single-family residences and small balance commercial properties. The company also originates and acquires small balance commercial mortgage loans and holds real estate owned (REO) properties acquired through foreclosures.

Great Ajax is managed by Thetis Asset Management LLC, while its mortgage loans and other real estate assets are serviced by Gregory Funding LLC, both affiliated entities. The company's operations are primarily centered around a single segment, which involves acquiring and managing mortgage loans and REO properties.

In recent developments, Great Ajax and Ellington Financial announced the termination of their merger agreement. Despite the termination, Ellington Financial retains a 6.1% stake in Great Ajax and continues to work with the company on mortgage loan opportunities. This strategic shift allows Great Ajax to explore new opportunities and partnerships to enhance its portfolio and financial performance.

Financially, Great Ajax reported an interest income of $17.9 million for the third quarter of 2023, with a net interest income of $3.0 million. However, the company posted a net loss of $6.1 million attributable to common stockholders. The company's book value per common share stood at $11.07 as of September 30, 2023.

Looking forward, Great Ajax remains committed to maximizing long-term value for its stockholders by diversifying its investment strategies and seeking new opportunities in the real estate mortgage sector. With a robust portfolio of RPLs, NPLs, and SBC loans, the company aims to navigate market challenges and capitalize on growth opportunities.

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Great Ajax Corp. (NYSE: AJX) will release its financial results for the second quarter of 2024 on Wednesday, July 24, 2024, before the New York Stock Exchange opens.

The company will hold a conference call the same day at 8:00 AM ET to discuss the results. Access to the call is available via phone at 1-844-746-0740 (U.S.) or 1-412-317-5106 (international), with pre-registration encouraged at https://dpregister.com/sreg/10190993/fd1966016c.

A webcast will also be available on the company’s website, www.greatajax.com. A replay of the call can be accessed until July 31, 2024, by dialing 1-877-344-7529 (U.S.) or 1-412-317-0088 (international) using access code 8087714.

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Rithm Capital and Great Ajax have finalized their previously announced transaction. Great Ajax is now under a management agreement with an affiliate of Rithm, transitioning from a residential loan platform to a commercial real estate-focused vehicle. Rithm anticipates strategic benefits from this shift and synergies with its operating platforms. The transaction was first announced on February 26, 2024, and approved by Great Ajax stockholders on May 20, 2024. Rithm also purchased 2.9 million shares of Great Ajax common stock.

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Great Ajax Corp. announced its results for the quarter ended March 31, 2024, focusing on acquiring and managing mortgage loans. The company reported interest income of $15.7 million, a net loss attributable to common stockholders of $(74.3) million, and an operating loss of $(4.8) million. Earnings per share were a loss of $(2.41) with a book value per common share of $6.87 at the end of the quarter. The company collected total cash of $80.9 million and held $100.1 million in cash and cash equivalents at the end of the quarter. Approximately 84.4% of their portfolio made at least 12 out of the last 12 payments.

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Great Ajax Corp. (NYSE: AJX) reveals the final conversion rate for its convertible notes before the maturity date of April 30, 2024. The notes will convert to 1.7405 shares of common stock per $25.00 principal amount, equating to a conversion price of around $14.36 per share.
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Great Ajax Corp. (AJX) sets a record date for its 2024 stockholders' meeting to vote on strategic transaction with Rithm Capital Corp. The Meeting will address various key actions including stock issuance, director elections, and management agreements.
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Great Ajax Corp. (AJX) announces fourth-quarter results with interest income of $17.7 million, net loss of $(23.2) million, and operating loss of $(1.8) million. The company focuses on acquiring and managing mortgage loans and commercial properties. Cash balance was $52.8 million at the end of December 2023.
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Rithm Capital Corp. and Great Ajax Corp. have entered into a strategic transaction where Great Ajax will receive a $70 million term loan from Rithm to repay its outstanding convertible notes. Great Ajax plans to shift its strategic direction by working with Rithm to capitalize on commercial real estate investment opportunities.
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Great Ajax Corp. (NYSE: AJX), a real estate investment trust, reported a net loss of $(6.1) million for the third quarter of 2023. The company formed two joint ventures that acquired $325.3 million in mortgage loans and retained $57.9 million of debt securities and beneficial interests. They collected $39.5 million in cash and had $63.9 million in cash and cash equivalents at the end of the quarter. Approximately 81.2% of their portfolio made at least 12 out of the last 12 payments.
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Great Ajax Corp. (NYSE: AJX) will release its financial results for Q3 2023 on November 2, 2023. A conference call will be held to review the results.
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Ellington Financial and Great Ajax terminate merger agreement
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FAQ

What is Great Ajax Corp. focused on?

Great Ajax Corp. specializes in acquiring, investing in, and managing re-performing loans (RPLs) and non-performing loans (NPLs) secured by single-family residences and small balance commercial properties. They also originate and acquire small balance commercial mortgage loans.

Who manages Great Ajax Corp.?

Great Ajax Corp. is externally managed by Thetis Asset Management LLC, and its mortgage loans and real estate assets are serviced by Gregory Funding LLC.

What recent strategic changes have been made at Great Ajax?

Recently, Great Ajax and Ellington Financial terminated their merger agreement. Despite this, Ellington Financial retains a 6.1% stake and continues collaborating with Great Ajax on mortgage loan opportunities.

What were Great Ajax’s financial results for Q3 2023?

For the third quarter of 2023, Great Ajax reported an interest income of $17.9 million and a net interest income of $3.0 million. The company posted a net loss of $6.1 million attributable to common stockholders.

What is the company's book value per common share?

As of September 30, 2023, Great Ajax's book value per common share was $11.07.

What types of loans does Great Ajax invest in?

Great Ajax primarily invests in re-performing loans (RPLs) and non-performing loans (NPLs) secured by single-family residences and small balance commercial properties. They also originate and acquire small balance commercial mortgage loans.

Where is Great Ajax Corp. located?

Great Ajax Corp. is based at 9400 SW Beaverton-Hillsdale Highway, Beaverton, OR, United States.

Is Great Ajax Corp. involved in any partnerships?

Yes, Great Ajax Corp. has a partnership with Ellington Financial, which retains a 6.1% stake in the company and collaborates on mortgage loan opportunities.

What is the company's strategy for future growth?

Great Ajax aims to diversify its investment strategies, seek new opportunities in the real estate mortgage sector, and maximize long-term value for its stockholders.

What are the main business segments of Great Ajax Corp.?

Great Ajax operates primarily in a single segment focused on acquiring, investing in, and managing a portfolio of mortgage loans and real estate owned (REO) properties.

Great Ajax Corp.

NYSE:AJX

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