Great Ajax misses 4Q profit forecasts

BEAVERTON, Ore. (AP) _ Great Ajax Corp. (AJX) on Tuesday reported fourth-quarter net income of $6.2 million.

The Beaverton, Oregon-based company said it had profit of 33 cents per share. Earnings, adjusted to extinguish debt, were 36 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The real estate investment trust posted revenue of $13.8 million in the period.

For the year, the company reported profit of $28.9 million, or $1.53 per share. Revenue was reported as $54.8 million.

Great Ajax shares have declined 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $13.38, an increase of slightly more than 1 percent in the last 12 months.

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