Atrium Mortgage Investment Co. (TSE:AI – Get Free Report) crossed below its 50 day moving average during trading on Tuesday after National Bank Financial lowered their price target on the stock from C$11.50 to C$11.00. The stock has a 50 day moving average of C$11.32 and traded as low as C$11.25. National Bank Financial currently has a sector perform rating on the stock. Atrium Mortgage Investment shares last traded at C$11.29, with a volume of 72,210 shares.
AI has been the topic of several other research reports. Fundamental Research set a C$12.82 target price on Atrium Mortgage Investment and gave the company a “buy” rating in a research note on Tuesday, August 11th. TD cut their price objective on shares of Atrium Mortgage Investment from C$13.00 to C$12.50 and set a “buy” rating on the stock in a research note on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$12.46.
Read Our Latest Stock Report on AI
Atrium Mortgage Investment Stock Down 0.5%
The firm has a market cap of C$545.83 million, a price-to-earnings ratio of 11.40 and a beta of 0.51. The stock’s 50 day moving average is C$11.32 and its 200 day moving average is C$11.68. The company has a quick ratio of 102.54, a current ratio of 3.72 and a debt-to-equity ratio of 55.94.
Atrium Mortgage Investment Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, December 10th will be paid a dividend of $0.0775 per share. This represents a $0.93 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date of this dividend is Monday, November 30th. Atrium Mortgage Investment’s dividend payout ratio (DPR) is presently 93.94%.
Atrium Mortgage Investment Company Profile
Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium’s objectives are to provide its shareholders with stable and secure dividends and preserve shareholders’ equity by lending within conservative risk parameters. Atrium is a Mortgage Investment Corporation (‘MIC’) as defined in the Canada Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year.
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