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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