Great Ajax(AJX) - 2025 Q1 - Quarterly Results

Financial Performance - Comprehensive income for Q1 2025 was $1.1 million, or$0.02 per diluted common share, down from $2.2 million, or$0.05 per diluted common share in Q4 2024[4] - Earnings available for distribution increased to $0.7 million, or$0.02 per diluted common share, compared to $0.3 million, or$0.01 per diluted common share in the previous quarter[4] - The company reported a net loss attributable to common stockholders of $3.7 million for Q1 2025, compared to a net income of$2.9 million in Q4 2024[14] - Comprehensive income for Q1 2025 was $1,114,000, compared to$2,202,000 for Q4 2024[23] - Earnings Available for Distribution (Non-GAAP) increased to $717,000 in Q1 2025 from$323,000 in Q4 2024[23] - Basic and diluted Earnings Available for Distribution per common share were both $0.02 in Q1 2025, up from$0.01 in Q4 2024[23] Equity and Assets - Book value per common share slightly decreased to $5.40 from$5.44 in Q4 2024, with total equity rising to $295.9 million from$246.9 million[4] - Total assets increased to $1,028.3 million from$977.3 million, with cash and cash equivalents rising to $97.4 million from$64.3 million[16] - The weighted average shares outstanding for basic and diluted calculations were 45,422,030 in Q1 2025, slightly up from 45,298,505 in Q4 2024[23] Dividends and Investments - The company declared a cash dividend of $0.06 per share, totaling$2.7 million, consistent with the previous quarter[8] - The company deployed $64 million into commercial real estate investments, including$46.7 million in commercial mortgage-backed securities, bringing total CMBS investments to $274.6 million[12] - Issued 2,084,232 shares of 9.875$50.8 million[12] - Sold legacy RMBS with a total unpaid principal balance of $20.7 million, resulting in a remaining RMBS portfolio of$101.1 million[12] Income and Interest - Interest income for Q1 2025 was $13.2 million, an increase from$12.9 million in Q4 2024, while net interest income rose to $3.8 million from$3.6 million[14] Strategic Direction - Rithm Property Trust has transitioned to a flexible commercial real estate investment strategy following a strategic transaction with Rithm Capital in 2024[25] - The company focuses on acquiring, investing in, and managing re-performing and non-performing loans secured by residential and commercial properties[25] Forward-Looking Statements - Forward-looking statements indicate management's expectations regarding future events, highlighting inherent uncertainties[26] - The company disclaims any obligation to update or revise forward-looking statements except as required by law[26] Investor Relations - Investor relations contact is available for further inquiries at 646-868-5483 or ir@rithmpropertytrust.com[27]