Great Ajax Q1 net loss $74.3M, operating loss $4.8M, book value drops to $6.87

Rithm Property Trust Inc.

2024-Q1 EPS reported -$2.41

GAAP net loss attributable to common stockholders of $74.3M ($2.41 loss per basic share); operating loss of $4.8M ($0.16/share).
Net interest income $1.6M, down from $3.2M in Q4 2023; total revenue loss of $49.4M.
Book value per common share fell to $6.87 from $9.99 at Dec 31, 2023.
Accrued $15.5M manager termination fee ($0.50/share); moved $421.6M UPB loans to held-for-sale, recording $47.3M mark-to-market loss.
Repaid $103.5M of 2024 Convertible Notes at maturity on April 30, 2024; cash held $100.1M at March 31.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Rithm Property Trust Inc. reported the quarter ended March 31, 2024 results: net income $(74.3) million, EPS $(2.41).

Period: the quarter ended March 31, 2024
Net income: $(74.3) million
EPS: $(2.41)
Result: reported results

Exact text from the filing

For the quarter ended March 31, 2024, we had a GAAP consolidated net loss attributable to common stockholders of $(74.3) million or $(2.41) per common share

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Source: SEC EDGAR

accession 0001628280-24-020293

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