Atrium Mortgage Investment (TSE:AI) Stock Gets Price Target Cut from National Bank Financial

Key Points

• National Bank Financial cut Atrium Mortgage Investment’s price target from C$12.00 to C$11.50 while maintaining a “sector perform” rating, implying approximately 2.5% upside from the current price.
• Atrium shares fell 0.6% to C$11.22 on Wednesday. The stock is trading below its 50-day and 200-day moving averages and remains within a C$10.98–C$12.36 12-month range.
• Analyst sentiment remains generally positive, with MarketBeat reporting an average “Buy” rating and an average target price of C$12.58, despite recent target reductions from National Bank Financial and TD.

Atrium Mortgage Investment (TSE:AI - Get Free Report) had its target price reduced by equities researchers at National Bank Financial from C$12.00 to C$11.50 in a research report issued on Wednesday, BayStreet reports. The brokerage currently has a "sector perform" rating on the stock. National Bank Financial's price objective points to a potential upside of 2.50% from the stock's current price.

AI has been the topic of several other research reports. Fundamental Research set a C$12.82 price target on Atrium Mortgage Investment and gave the company a "buy" rating in a report on Tuesday, August 11th. TD reduced their price objective 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Atrium Mortgage Investment presently has an average rating of "Buy" and an average target price of C$12.58.

Atrium Mortgage Investment Stock Down 0.6%

Shares of TSE:AI traded down C$0.07 on Wednesday, reaching C$11.22. The company had a trading volume of 63,273 shares, compared to its average volume of 121,810. The stock has a market capitalization of C$542.44 million, a P/E ratio of 11.33 and a beta of 0.61. The stock has a 50-day moving average price of C$11.38 and a 200 day moving average price of C$11.70. Atrium Mortgage Investment has a twelve month low of C$10.98 and a twelve month high of C$12.36. 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 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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