Firm Capital Mortgage Investment (TSE:FC) Raised to “Buy” at TD Securities

TD Securities upgraded shares of Firm Capital Mortgage Investment (TSE:FC) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, BayStreet.CA reports. TD Securities currently has C$11.50 price objective on the stock, down from their previous price objective of C$14.50.

Separately, Echelon Wealth Partners reiterated a buy rating on shares of Firm Capital Mortgage Investment in a research report on Friday, March 20th.

Shares of FC stock opened at C$9.92 on Tuesday. The company has a quick ratio of 12.44, a current ratio of 12.45 and a debt-to-equity ratio of 56.12. Firm Capital Mortgage Investment has a fifty-two week low of C$7.73 and a fifty-two week high of C$15.45. The stock has a market capitalization of $264.93 million and a P/E ratio of 10.14. The stock has a 50-day simple moving average of C$13.33 and a 200 day simple moving average of C$14.15.

Firm Capital Mortgage Investment (TSE:FC) last released its quarterly earnings results on Wednesday, March 18th. The company reported C$0.21 earnings per share for the quarter. The company had revenue of C$11.04 million during the quarter. On average, sell-side analysts anticipate that Firm Capital Mortgage Investment will post 0.99 earnings per share for the current year.

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 16th were given a dividend of $0.078 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.94 dividend on an annualized basis and a yield of 9.44%. Firm Capital Mortgage Investment’s payout ratio is presently 95.71%.

In other Firm Capital Mortgage Investment news, Director Jonathon Mair acquired 3,000 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was purchased at an average cost of C$10.62 per share, for a total transaction of C$31,860.00. Following the transaction, the director now owns 84,400 shares of the company’s stock, valued at approximately C$896,328.

About Firm Capital Mortgage Investment

Firm Capital Mortgage Investment Corporation, through its mortgage banker Firm Capital Corporation, provides residential and commercial real estate finance in Canada. It engages in originating, funding, purchasing, and servicing mortgage investments. The company offers mortgage services, such as real estate financing, real estate investment financing, capital market services, and loan servicing and advisory services; lending programs, including construction and development lending, investment property financing, short term lending, bridge finance, mezzanine and equity investments, capital market facilities, residential and non-conventional house lending, and condominium capital improvement loans, as well as special situations loans; and various types of lending facilities to mortgage brokers.

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