Exhibit 99.1

 

 

 

GREAT AJAX CORP. ANNOUNCES RESULTS FOR THE QUARTER
ENDED DECEMBER 31, 2016

 

Fourth Quarter Highlights

 

·Purchased $129.2 million of re-performing (“RPL”) and non-performing (“NPL”) loans with an aggregate unpaid principal balance (“UPB”) of $149.3 million to end the year with $870.6 million of mortgage loans with an aggregate UPB of $1,070.2 million.
·Portfolio interest income of $19.7 million; net interest income of $12.1 million.
·Net income attributable to common stockholders of $6.0 million.
·Earnings per share (“EPS”) of $0.33 per diluted share.
·Taxable income of $0.33 per diluted share.
·Book value per share of $15.06 at December 31, 2016.
·Raised $101.2 million, net, in secured borrowings.
·$35.7 million of cash and cash equivalents at December 31, 2016.

 

New York, NY—March 1, 2017 —Great Ajax Corp. (NYSE: AJX), a Maryland corporation that is a real estate investment trust, today announces results of operations for the quarter ended December 31, 2016. We focus primarily on acquiring, investing in and managing a portfolio of RPL mortgage loans secured by single-family residences and commercial properties, and, to a lesser extent, NPL mortgage loans and direct investment in single-family and multi-family properties.

 

Financial Results (Unaudited)

 

($ in thousands except per share amounts)

 

   December
31, 2016
   September
30, 2016
   June 30,
2016
   March 31,
2016
   December
31, 2015
 
Interest income  $19,723   $18,707   $16,378   $15,814   $15,584 
Total revenue (1)  $10,969   $11,619   $10,688   $11,411   $11,688 
Consolidated net income  $6,163   $7,887   $6,861   $7,963   $8,392 
Net income per diluted share  $0.33   $0.42   $0.42   $0.50   $0.53 
Average equity  $280,213   $279,222   $248,195   $240,283   $234,656 
Average total assets  $883,621   $814,426   $671,275   $626,008   $583,951 
Average daily cash balance (2)  $32,759   $50,572   $39,043   $27,824   $28,066 
Average carrying value of RPLs  $751,801   $653,699   $539,701   $496,925   $447,512 
Average carrying value of NPLs  $59,365   $63,778   $68,205   $71,984   $75,433 

 

 

(1) Total revenue includes net interest income, income from manager and other income

(2) Average daily cash balance includes cash and cash equivalents, and excludes cash held in trust

 


The following information was filed by Great Ajax Corp. (AJX) on Wednesday, March 1, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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