Great Ajax Corp (AJX) Tops Q3 EPS by 1c

Great Ajax Corp (NYSE: AJX) reported Q3 EPS of $0.39, $0.01 better than the analyst estimate of $0.38.

• Formed joint ventures that acquired $241.5 million in unpaid principal balance (“UPB”) of mortgage loans with collateral values of $429.5 million and retained $43.4 million of varying classes of related securities issued by the joint ventures to end the quarter with $236.5 million of investments in debt securities and beneficial interests
• Purchased $0.4 million of re-performing mortgage loans ("RPLs") with UPB of $0.5 million and underlying collateral values of $0.7 million to end the quarter with $1.2 billion in net mortgage loans
• Acquired three multi-family rental properties for $16.0 million and two single-tenant, triple net lease commercial properties for $1.5 million
• Interest income of $27.7 million net of $0.4 million in servicing fee expense on loans held in joint ventures
• Net interest income after provision for loan losses of $13.4 million
• Overall cost of funds decreased approximately 20 basis points due to the issuance of AAA-rated bonds from our second rated securitization, Ajax Mortgage Loan Trust 2019-D ("2019-D"), as well as from lower interest rates on our repurchase lines of credit
• Net income attributable to common stockholders of $7.7 million
• Basic earnings per share (“EPS”) of $0.39
• Taxable income of $0.20 per share
• Book value per share of $15.86 at September 30, 2019
• Collected total cash of $69.6 million, including $60.3 million from loan payments, loan payoffs and sales of REO and $9.3 million from our investments in debt securities and beneficial interests
• Held $57.9 million of cash and cash equivalents at September 30, 2019

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c
• Pro Diversity Network (IPDN) Reports Q2 Loss of $0.15