Great Ajax Corp. Files Q3 2024 10-Q
Ticker: RPT-PC · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 1614806
| Field | Detail |
|---|---|
| Company | Great Ajax Corp. (RPT-PC) |
| Form Type | 10-Q |
| Filed Date | Nov 1, 2024 |
| Risk Level | medium |
| Pages | 17 |
| Reading Time | 20 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, real estate, REIT
TL;DR
**AJX Q3 10-Q FILED: Check financials for latest performance.**
AI Summary
Great Ajax Corp. filed its 10-Q for the period ending September 30, 2024. The company, a real estate investment trust, reported financial results for the third quarter of 2024. Key financial data and operational details for the period are detailed within the filing.
Why It Matters
This filing provides investors with the latest financial performance and operational status of Great Ajax Corp., crucial for understanding its current financial health and future prospects.
Risk Assessment
Risk Level: medium — As a real estate investment trust, Great Ajax Corp. is subject to market fluctuations and interest rate risks inherent in the real estate sector.
Key Numbers
- 2024 Q3 — Reporting Period (Financial results for the third quarter of 2024 are presented.)
- 1231 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)
Key Players & Entities
- Great Ajax Corp. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of reporting period
- 2024-11-01 (date) — Filing date
FAQ
What is the total number of shares outstanding as of the filing date?
The filing does not explicitly state the total number of shares outstanding in the provided snippet, but it does reference 'xbrli:shares'.
What were the total assets of Great Ajax Corp. as of September 30, 2024?
The provided snippet does not contain specific dollar amounts for total assets.
What is the company's primary business activity?
Great Ajax Corp. is a real estate investment trust (REIT) as indicated by its SIC code [6798].
What is the company's state of incorporation?
Great Ajax Corp. is incorporated in Maryland (MD).
What is the filing date of this 10-Q report?
This 10-Q report was filed on November 1, 2024.
Filing Stats: 5,029 words · 20 min read · ~17 pages · Grade level 18.6 · Accepted 2024-10-31 18:18:33
Key Financial Figures
- $0.01 — ich registered Common stock, par value $0.01 per share AJX New York Stock Exchange
Filing Documents
- ajx-20240930.htm (10-Q) — 2953KB
- exhibit311-93024.htm (EX-31.1) — 8KB
- exhibit312-93024.htm (EX-31.2) — 9KB
- exhibit321-93024.htm (EX-32.1) — 5KB
- exhibit322-93024.htm (EX-32.2) — 5KB
- 0001614806-24-000009.txt ( ) — 14045KB
- ajx-20240930.xsd (EX-101.SCH) — 97KB
- ajx-20240930_cal.xml (EX-101.CAL) — 72KB
- ajx-20240930_def.xml (EX-101.DEF) — 455KB
- ajx-20240930_lab.xml (EX-101.LAB) — 933KB
- ajx-20240930_pre.xml (EX-101.PRE) — 684KB
- ajx-20240930_htm.xml (XML) — 2831KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION TABLE OF CONTENTS
Financial Information
PART I Financial Information
Consolidated Interim Financial Statements
Item 1. Consolidated Interim Financial Statements 1 Cautionary Statement Regarding Forward-Looking Statements 40
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 42
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 62
Controls and Procedures
Item 4. Controls and Procedures 63
Other Information
PART II Other Information
Legal Proceedings
Item 1. Legal Proceedings 65
Risk Factors
Item 1A. Risk Factors 65
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 65
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 65
Mine Safety Disclosure
Item 4. Mine Safety Disclosure 65
Other Information
Item 5. Other Information 65
Exhibits
Item 6. Exhibits 65 i
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Consolidated Interim Financial Statements
Item 1. Consolidated Interim Financial Statements GREAT AJAX CORP. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS ($ in thousands except per share data) September 30, 2024 December 31, 2023 Assets: (Unaudited) Cash and cash equivalents $ 84,016 $ 52,834 Mortgage loans held-for-sale, net 31,315 55,718 Mortgage loans held-for-investment, net (1) 403,056 864,551 Investments in securities available-for-sale, at fair value 166,650 131,558 Investments in securities held-to-maturity 47,144 59,691 Investment in equity securities, at fair value 21,918 — Investments in beneficial interests, net (2) 88,996 104,162 Other assets 15,056 67,777 Total Assets $ 858,151 $ 1,336,291 Liabilities and Equity Liabilities: Secured borrowings, net (1) 266,776 411,212 Borrowings under repurchase transactions 231,464 375,745 Convertible senior notes — 103,516 Notes payable, net 107,432 106,844 Warrant liability — 16,644 Accrued expenses and other liabilities 5,386 11,435 Total Liabilities 611,058 1,025,396 Commitments and Contingencies – see Note 8 Equity: Preferred stock $ 0.01 par value, 25,000,000 shares authorized Series A 7.25 % Fixed-to-Floating Rate Cumulative Redeemable, $ 25.00 liquidation preference per share, zero shares issued and outstanding at September 30, 2024 and 424,949 shares issued and outstanding at December 31, 2023 — 9,411 Series B 5.00 % Fixed-to-Floating Rate Cumulative Redeemable, $ 25.00 liquidation preference per share, zero shares issued and outstanding at September 30, 2024 and 1,135,590 shares issued and outstanding at December 31, 2023 — 25,143 Common stock $ 0.01 par value, 125,000,000 shares authorized, 44,978,969 shares issued and outstanding at September 30, 2024 and 27,460,161 shares issued and outstanding at December 31, 2023 466 285 Additional paid-in capital 423,623 352,060 Treasury stock ( 11,594 ) ( 9,557 ) Retained deficit ( 158,126 ) ( 54,382 ) Accumulated other comprehensive loss ( 8,279 ) ( 14,027 ) Equit