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Great Ajax misses 4Q profit forecasts

BEAVERTON, Ore. (AP) _ Great Ajax Corp. (AJX) on Wednesday reported fourth-quarter profit of $6 million.

On a per-share basis, the Beaverton, Oregon-based company said it had profit of 33 cents. Earnings, adjusted to extinguish debt, came to 35 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The real estate investment trust posted revenue of $11 million in the period.

For the year, the company reported profit of $27.8 million, or $1.67 per share. Revenue was reported as $44.7 million.

Great Ajax shares have increased slightly since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.29, a climb of 45 percent 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 Zacks stock report on AJX at https://www.zacks.com/ap/AJX

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Keywords: Great Ajax, Earnings Report