Firm Capital Mortgage Investment (TSE:FC) Upgraded by TD Securities to “Buy”

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

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

Shares of TSE:FC opened at C$9.92 on Tuesday. Firm Capital Mortgage Investment has a 1-year low of C$7.73 and a 1-year high of C$15.45. The firm has a market capitalization of $264.93 million and a PE ratio of 10.14. The business’s 50 day moving average is C$13.33 and its 200-day moving average is C$14.15. The company has a current ratio of 12.45, a quick ratio of 12.44 and a debt-to-equity ratio of 56.12.

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

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

In other news, Director Jonathon Mair acquired 3,000 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were bought at an average price of C$10.62 per share, with a total value of C$31,860.00. Following the acquisition, the director now owns 84,400 shares of the company’s stock, valued at C$896,328.

Firm Capital Mortgage Investment Company Profile

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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