Atrium Mortgage Investment (TSE:AI) Sets New 12-Month High - Here's Why

Key Points

• Atrium Mortgage Investment (TSE:AI) hit a new 52-week high of C$12.06 on Friday, last trading at C$12.05 on volume of 105,021 shares.
• Analysts hold a consensus Buy rating with an average price target of C$13.31 (individual targets of C$13.12 and C$13.50 were recently published).
• The company announced a monthly dividend of C$0.0775 (ex-dividend April 30, payable May 13), implying a 7.6% yield but a high payout ratio of 90.29%.

Atrium Mortgage Investment Co. (TSE:AI - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as C$12.06 and last traded at C$12.05, with a volume of 105021 shares. The stock had previously closed at C$11.87.

Wall Street Analyst Weigh In

AI has been the subject of a number of recent research reports. 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. Canaccord Genuity Group set a C$13.50 price objective on Atrium Mortgage Investment and gave the company a "buy" rating in a research report on Friday. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Atrium Mortgage Investment presently has an average rating of "Buy" and an average price target of C$13.31.

Atrium Mortgage Investment Price Performance

The company has a 50 day simple moving average of C$11.72 and a 200-day simple moving average of C$11.58. The stock has a market cap of C$584.88 million, a price-to-earnings ratio of 11.83 and a beta of 0.69. The company has a current ratio of 3.15, a quick ratio of 102.54 and a debt-to-equity ratio of 67.69.

Atrium Mortgage Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, May 13th will be given a $0.0775 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 7.6%. Atrium Mortgage Investment's dividend payout ratio is presently 90.29%.

About Atrium Mortgage Investment

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.

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