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Great Ajax: Q1 Earnings Snapshot
By AP News - May 04, 2023, 05:24 PM ET
Last Updated - Jun 21, 2023, 10:36 PM EDT
TIGARD, Ore. (AP) — TIGARD, Ore. (AP) — Great Ajax Corp. (AJX) on Thursday reported a first-quarter loss of $7.9 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 34 cents. Losses, adjusted for non-recurring costs, came to 9 cents per share.
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The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The real estate investment trust posted revenue of $18.5 million in the period. Its adjusted revenue was $3.5 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $5.6 million.
Great Ajax shares have declined 18% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.93, a decrease of 41% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AJX">Zacks stock report on AJX at https://www.zacks.com/ap/AJX
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