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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 KerBeron Mar 23, 2020 7:25pm
231 Views
Post# 30839775

Looking for positives.

Looking for positives.
So if you back out the revenue for the BPO, we made $200,000 more in Q4, 2019 than Q4, 2018. Margins were higher, 45.9% in Q4, 2019 compared to 30.9% in Q4 2018. Cash at the end of 2019 was $17.2 million , a reduction from $21.4 million at the end of Q3, 2019. I suppose we can state that the cash position has been further reduced today, probably by another $4 million. However, we are now in our strongest 2 quarters, traditionally we see higher revenue in Q1 and Q2. Management are talking about growing sales in each of their geographical regions and just announced signing on 2 more partners in the Asian-Pacific region. We are currently negotiating with Claas to implement a new agreement and all indications are that the company will be successful in negotiating a new deal. Kubota want to settle and work with Ag Junction going forward. Not a great quarter, but not bad enough to justify the current share price.
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