TIGARD, Ore. (AP) _ Great Ajax Corp. (AJX) on Thursday reported a third-quarter loss of $9.5 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Tigard, Oregon-based company said it had a loss of 71 cents. Earnings, adjusted for non-recurring costs, were 14 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The real estate investment trust posted revenue of $10.5 million in the period. Its adjusted revenue was $8.7 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $12.9 million.
Great Ajax shares have dropped 38% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.15, a decline of 43% in the last 12 months.
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