Great Ajax Corp.
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- Great Ajax Corp. (NYSE: AJX), formerly known as Great Ajax Corp. and rebranded to Rithm Property Trust Inc. effective December 2, 2024, operates as a Maryland-based real estate investment trust (REIT) externally managed by an affiliate of Rithm Capital Corp. The company acquires, invests in, and manages portfolios of re-performing loans (RPLs) and non-performing loans (NPLs) secured by single-family residences and commercial properties; originates and acquires small-balance commercial mortgage loans backed by multi-family, retail/residential, and mixed-use properties; and holds real estate-owned (REO) properties. Its mortgage loans and real estate assets are serviced by Gregory Funding LLC, an affiliated entity, with operations primarily in the United States and headquarters historically located in Beaverton or Tigard, Oregon. Founded in 2014, the company has recently undergone significant strategic transformations, including the completion of a major transaction with Rithm Capital Corp. in 2024, under which Rithm became its external manager, purchased 2.9 million shares of common stock, and shifted its focus from a legacy residential loan platform to an opportunistic commercial real estate investment strategy leveraging Rithm's platforms for synergies. This transaction, announced February 26, 2024, and approved by stockholders on May 20, 2024, involved asset sales such as $50 million in loans in Q1 2024 and $217 million in April 2024, alongside exchanges of Series A/B preferred shares and put warrants for common shares, positioning Magnetar Capital as its largest shareholder with a 21.5% stake. In Q3 2024 earnings, Great Ajax reported $84 million in cash (with $30 million available for investment), aims for breakeven by Q1 2025 amid ongoing portfolio transitions, and plans further commercial real estate debt opportunities.
Home For The Holidays
Great Ajax Establishes Effective Date of Previously Announced Rebrand to Rithm Property Trust
Brace For Volatility
Great Ajax Corp. (AJX) Q3 2024 Earnings Call Transcript
Great Ajax Corp. Announces Results for the Quarter Ended September 30, 2024 and Announces Intent to Rebrand to Rithm Property Trust Inc.
Great Ajax Corp. Schedules Its Third Quarter 2024 Earnings Release and Conference Call
Great Ajax Corp. (AJX) Q4 2023 Earnings Call Transcript
A Critical Cooldown
Rithm Capital Corp. and Great Ajax Corp. Complete Transaction
Great Ajax Corp. Announces Results for the Quarter Ended March 31, 2024
Great Ajax Corp. Announces Final Conversion Rate for Its Convertible Notes
Great Ajax Corp. Announces Record Date for Stockholders Meeting to Approve Strategic Transaction With Rithm Capital Corp.
Top 3 Financial Stocks That May Explode This Quarter - AtlasClear Holdings (AMEX:ATCH), Great Ajax (NYSE:AJX)
Losers Of REIT Earnings Season
Great Ajax Corp. Announces Results for the Quarter Ended December 31, 2023
Rithm Capital Corp. and Great Ajax Corp. Announce a Strategic Transaction
Great Ajax Corp. (AJX) Q3 2023 Earnings Call Transcript
Great Ajax Corp. Announces Results for the Quarter Ended September 30, 2023; Provides Strategic Update
Top 5 Financial Stocks That Could Lead To Your Biggest Gains In Q4 - AMTD IDEA Group (NYSE:AMTD), Great Ajax (NYSE:AJX)
Great Ajax Corp. Schedules Its Third Quarter 2023 Financial Results Release For Thursday, November 2, 2023