Great Ajax Corp (AJX) Misses Q4 EPS by 5c, Revenues Miss

Great Ajax Corp (NYSE: AJX) reported Q4 EPS of $0.34, $0.05 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $13.89 million versus the consensus estimate of $15.35 million.

• Purchased $63.3 million of re-performing mortgage loans (“RPLs”) and $4.0 million of non-performing mortgage loans (“NPLs”) with an unpaid principal balance (“UPB”) of $71.0 million and $4.3 million, respectively, and underlying collateral values of $102.8 million and $6.0 million, respectively; and originated $1.6 million of small-balance commercial mortgage loans (“SBCs”)
• Formed $586.2 million of joint ventures and retained $126.5 million of varying classes of related securities to end the quarter with $168.9 million of investments in debt securities and beneficial interests issued by these joint ventures
• Acquired four commercial properties for $9.5 million
• Gross interest income of $28.5 million; net interest income of $13.4 million before impairments
• Net income attributable to common stockholders of $6.6 million
• Basic earnings per share (“EPS”) of $0.35
• Taxable income of $0.23 per share
• Book value per share of $15.59 at December 31, 2018
• Collected $57.1 million of cash from our portfolio and held $55.1 million of cash and cash equivalents at December 31, 2018

For earnings history and earnings-related data on Great Ajax Corp (AJX) click here.

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