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Great Ajax Corp. (AJX) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

Great Ajax Corp.

CIK: 1614806 Ticker: AJX

Exhibit 99.1 
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GREAT AJAX CORP. ANNOUNCES RESULTS FOR THE QUARTER
ENDED MARCH 31, 2020
 
First Quarter Highlights

Formed a joint venture that acquired $184.8 million in unpaid principal balance (“UPB”) of mortgage loans with collateral values of $292.9 million and an aggregate purchase price of $170.4 million. As of March 31, 2020, the joint venture was prefunded with $132.6 million of cash for additional loan purchases of which 677 re-performing mortgage loans ("RPLs") with UPB of $123.2 million closed in April for a purchase price of $114.0 million. We retained $61.3 million of varying classes of related securities issued by the joint venture to end the quarter with $312.1 million of investments in debt securities and beneficial interests
Purchased $0.2 million of non-performing mortgage loans ("NPLs") with UPB of $0.2 million and underlying collateral values of $0.3 million, and 26 RPLs for $1.2 million, with UPB of $2.0 million and collateral values of $3.1 million to end the quarter with $1.1 billion in net mortgage loans
Interest income of $27.3 million; net interest income after provision for credit losses of $9.1 million
Overall cost of funds decreased approximately 21 basis points
Net income attributable to common stockholders of $0.4 million
Basic earnings per share (“EPS”) of $0.02
Taxable income of $0.05 per share
Book value per share of $14.37 at March 31, 2020
Collected total cash of $62.4 million from loan payments, sales of real estate owned ("REO") and investments in debt securities and beneficial interests
Held $31.2 million of cash and cash equivalents at March 31, 2020; average daily cash balance for the quarter was $58.6 million
At March 31, 2020, approximately 74% of our portfolio based on UPB had made at least the last 12 out of 12 payments

New York, NY—May 5, 2020 —Great Ajax Corp. (NYSE: AJX), a Maryland corporation that is a real estate investment trust, today announces its results of operations for the quarter ended March 31, 2020. We focus primarily on acquiring, investing in and managing a portfolio of RPLs secured by single-family residences and commercial properties and, to a lesser extent, NPLs. In addition to our continued focus on residential RPLs, we also originate and acquire small-balance commercial loans ("SBCs") secured by multi-family retail/residential and mixed use properties and acquire multi-family retail/residential and mixed use and commercial properties.
 


The following information was filed by Great Ajax Corp. (AJX) on Tuesday, May 5, 2020 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Great Ajax Corp.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Equity
Consolidated Statements Of Comprhensive Income
Consolidated Statements Of Income
Affiliates
Affiliates (Tables)
Affiliates - Narrative (Details)
Affiliates - Schedule Of Net Income, Assets And Liabilities (Details)
Commitments And Contingencies
Commitments And Contingencies (Details Textuals)
Debt
Debt (Tables)
Debt - Narrative (Details)
Debt - Schedule Of Netting Agreement (Details)
Debt - Schedule Of Repurchase Transactions And Facilities (Details)
Debt - Schedule Of Securitization Notes Outstanding (Details)
Debt - Schedule Of Status Of Notes And Securitizations (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Schedule Of Components Of Basic And Diluted Eps (Details)
Equity
Equity (Tables)
Equity - Narrative (Details)
Equity - Schedule Of Accumulated Other Comprehensive Income (Details)
Equity - Schedule Of Less Than Wholly Owned Subsidiary, Parent Ownership Interest, Net (Details)
Fair Value
Fair Value (Tables)
Fair Value - Schedule Of Assets And Liabilities At Fair Value (Details)
Fair Value - Schedule Of Non Financial Assets (Details)
Income Taxes
Income Taxes - Narrative (Details)
Investments
Investments (Details)
Investments (Tables)
Investments - Allowance For Credit Loss On Beneficial Interests (Details)
Investments - Schedule Of Securities At Acquisition Reconciliation Between Purchase Price And Par Value (Details)
Mortgage Loans
Mortgage Loans (Tables)
Mortgage Loans - Allowance For Loan Losses (Details)
Mortgage Loans - Narrative (Details)
Mortgage Loans - Schedule Of Carrying Value Of Mortgage Loans (Details)
Mortgage Loans - Schedule Of Loan Acquisition Reconciliation Between Purchase Price And Par Value (Details)
Mortgage Loans - Schedule Of Loan Basis By Year Of Origination (Details)
Mortgage Loans - Schedule Of Loan Portfolio Basis By Asset Type (Details)
Organization And Basis Of Presentation
Organization And Basis Of Presentation (Details Textuals)
Real Estate Assets, Net
Real Estate Assets, Net (Tables)
Real Estate Assets, Net - Narrative (Details)
Real Estate Assets, Net - Schedule Of Roe Held-For-Sale (Details)
Related Party Transactions
Related Party Transactions (Tables)
Related Party Transactions - Narrative (Details)
Related Party Transactions - Schedule Of Balance Sheet Of Related Party Transaction (Details)
Related Party Transactions - Schedule Statement Of Income Of Related Party Transactions (Details)
Stock-Based Payments And Director Fees
Stock-Based Payments And Director Fees (Tables)
Stock-Based Payments And Director Fees - Narrative (Details)
Stock-Based Payments And Director Fees - Schedule Of Management Fees And Director Fees (Details)
Stock-Based Payments And Director Fees - Schedule Of Restricted Stock Plans (Details)
Subsequent Events
Subsequent Events - Narrative (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Narrative (Details)
Ticker: AJX
CIK: 1614806
Form Type: 10-Q Quarterly Report
Accession Number: 0001628280-20-006498
Submitted to the SEC: Tue May 05 2020 6:51:03 PM EST
Accepted by the SEC: Wed May 06 2020
Period: Tuesday, March 31, 2020
Industry: Real Estate Investment Trusts

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