Atrium Mortgage Investment (TSE:AI) Share Price Breaks Below 50-Day Moving Average Following Analyst Downgrade

Atrium Mortgage Investment Co. (TSE:AI)’s stock price 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 changing hands.

Several other research firms have also weighed in on AI. TD lowered their target price on shares of Atrium Mortgage Investment from C$13.00 to C$12.50 and set a “buy” rating for the company in a research note on Wednesday, October 14th. 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$12.46.

Atrium Mortgage Investment Price Performance

The company has a market capitalization of C$545.83 million, a P/E ratio of 11.40 and a beta of 0.51. The company has a quick ratio of 102.54, a current ratio of 3.72 and a debt-to-equity ratio of 55.94. The business has a 50 day simple moving average of C$11.32 and a 200-day simple moving average of C$11.68.

Atrium Mortgage Investment Dividend Announcement

The company also recently announced 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 payout ratio 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.