Atrium Mortgage Investment (TSE:AI) Reaches New 1-Year High Following Analyst Upgrade

Atrium Mortgage Investment Co. (TSE:AI)’s share price reached a new 52-week high during trading on Friday after Canaccord Genuity Group upgraded the stock to a strong-buy rating. The company traded as high as C$12.06 and last traded at C$12.05, with a volume of 105021 shares traded. The stock had previously closed at C$11.87.

Separately, Fundamental Research set a C$13.12 target price on Atrium Mortgage Investment and gave the stock a “buy” rating in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Strong Buy” and an average target price of C$13.31.

Atrium Mortgage Investment Trading Up 2.3%

The business has a fifty day simple moving average of C$11.73 and a 200-day simple moving average of C$11.58. The company has a debt-to-equity ratio of 67.69, a quick ratio of 102.54 and a current ratio of 3.15. The firm has a market cap of C$584.30 million, a price-to-earnings ratio of 11.79 and a beta of 0.69.

Atrium Mortgage Investment Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Wednesday, May 13th will be given a $0.0775 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Thursday, April 30th. Atrium Mortgage Investment’s payout ratio is 90.29%.

Atrium Mortgage Investment Company Profile

Atrium Mortgage Investment Corp is a non-banking finance company providing residential and commercial mortgages that lends funds in major urban centres in Canada where the stability and liquidity of real estate are high. Its objectives are to provide its shareholders with stable and secure dividends and preserve shareholders’ equity by lending within conservative risk parameters. The company generates its revenue from mortgage interest and fees.