Atrium Mortgage Investment (TSE:AI) Stock Price Breaks Below 200 Day Moving Average – Here’s What Happened

Atrium Mortgage Investment Co. (TSE:AI)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$11.74 and traded as low as C$11.04. Atrium Mortgage Investment shares last traded at C$11.08, with a volume of 109,829 shares.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$12.82 price target on shares of Atrium Mortgage Investment and gave the stock a “buy” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, Atrium Mortgage Investment has a consensus rating of “Strong Buy” and a consensus target price of C$13.16.

Atrium Mortgage Investment Stock Up 0.5%

The stock has a market cap of C$542.44 million, a P/E ratio of 11.33 and a beta of 0.61. The business has a 50-day simple moving average of C$11.48 and a 200-day simple moving average of C$11.74. 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 Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, August 12th were paid a dividend of $0.0775 per share. This represents a $0.93 annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend was Friday, July 31st. Atrium Mortgage Investment’s dividend payout ratio is 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.