Taxed as a real estate investment trust (REIT) firm, the business continues to be free from any federal tax obligations granting that it continues to distribute at least 90% of its revenue back to its shareholders. The operations of the company involve the acquisition, investment and management of mortgage loan portfolios. These portfolios are secured by single-family residences and/or single-family properties. These mortgage loans are categorized as either non-performing or re-performing.
In addition to the mortgage portfolios that are managed by the company, they also engage in investing in other loans that are secured by multi-family residential and commercial mixed used properties. For these properties, they usually have a loan value of up to about $5 million. Before the company invests in any properties, it implements a very rigid process of scrutinizing its mortgage loans and retains subordinated securities from the securitizations. Part of the interest of the company is the acquisition of loans with underlying properties that are nearby urban centers. For this reason, they are able to create a higher value for these properties in the long run.
Great Ajax Corporation is managed by the Thetis Asset Management LLC. It is a wholly owned subsidiary of the operating partnership of the business. As of December 2014, the latter has a portfolio of 1,340 loans. 727.% of these are re-performing loans, while the rest are non-performing loans. The business remains publicly traded on the New York Stock Exchange and continues to market its common shares using the ticker symbol AJX. It is listed as a component of the Russell 3000 Index.