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Great Ajax Corp T.AJX


Primary Symbol: AJX

Great Ajax Corp. is an externally managed real estate company. The Company’s primary business is acquiring, investing in and managing a portfolio of mortgage loans. The Company operates in a single segment focused on re-performing mortgages, and to a lesser extent non-performing mortgages and real property. The Company primarily targets acquisitions of re-performing loans (RPLs), which are residential mortgage loans and non-performing loans (NPLs), which are residential mortgages. It invests in single-family and smaller commercial properties directly either through a foreclosure event of a loan in its mortgage portfolio, or, less frequently, through a direct acquisition. It may acquire RPLs and NPLs either directly or in joint ventures with institutional accredited investors. It may also acquire or originate small balance commercial loans. Its manager is Thetis Asset Management LLC. It conducts its business through its operating partnership, Great Ajax Operating Partnership L.P.


NYSE:AJX - Post by User

Post by dt_coreon Mar 23, 2019 9:53am
116 Views
Post# 29526690

CAD vs. USD

CAD vs. USDOne thing a lot of investors forget is that AJX reports in USD. I'm assuming most of the investors, particularly on this board, are Canadian. So from that perspective the company did ~C$85mm last year. That's not too bad. If you compare to a few years ago the dollar was at par so the apple-to-apple comparison can be made in CAD as a shareholder (the stock trades in C$ too of course). In other words the company's financials in C$ haven't been as nearly as volatile. Even the $20mm+ of cash, which is expected to increase, is actually closer to C$27mm and heading higher according to management. With cash C$30mm about 35% of the company's market cap is sitting on the balance sheet which is crazy! This stock should be far higher than $.69 today! (like I said, my low growth case scenario suggests $1.20 at the very least). 
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