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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

Comment by dt_coreon Jun 09, 2020 9:26am
155 Views
Post# 31127974

RE:Share buyback

RE:Share buybackBuybacks weren't approved at the AGM. Rather an accounting restatement that would more easily facilitate buybacks was approved. All this means is that the company can more effectively do buybacks if they so chose but the company hasn't said if this is something they are planning to do today.

I have to say this is the first time in years I've felt this bullish about AJX prospects. The OEM/VAR indsustry is finally at a real inflexion point and I can understand now why the management has cited 2021/2022 as potential big years for the company. We may lose the Claas contract at the end of 2020 (or renegotiate a new contract) but looking at EMEA sales in Q4 and Q1 it doesn't appear Claas is ordering anything from the company today anyways (not after the BPO). That might mean AJX almost achieved a breakeven Q1 with little to no contribution from Claas sales (unless some were in North America).

Wheelman is slowly but surely taking off and the amount of blogs and farmer discussion about the product is accelerating. In a time of COVID-19, where farmers might be hesitant to visit their local dealer, ordering online makes a lot of sense. The more farmers that install Wheelman and are happy with it (which seems to be the vast majority) the more word of mouth will spread and the faster sales of the product can accelerate. It still may take a few years before it becomes meaningful enough to move the dial.
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