Atrium Mortgage Investment (TSE:AI) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Atrium Mortgage Investment Co. (TSE:AI) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$11.72 and traded as low as C$11.26. Atrium Mortgage Investment shares last traded at C$11.26, with a volume of 84,337 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AI. TD dropped their price target on 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 price target on Atrium Mortgage Investment and gave the stock a “buy” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, Atrium Mortgage Investment presently has an average rating of “Buy” and a consensus target price of C$12.94.

Atrium Mortgage Investment Price Performance

The stock has a market capitalization of C$541.96 million, a PE ratio of 11.32 and a beta of 0.61. The company has a current ratio of 3.72, a quick ratio of 102.54 and a debt-to-equity ratio of 55.94. The firm has a 50 day moving average price of C$11.41 and a 200 day moving average price of C$11.72.

Atrium Mortgage Investment Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, August 12th were paid a $0.0775 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $0.93 dividend on an annualized basis and a dividend yield of 8.3%. Atrium Mortgage Investment’s dividend payout ratio is 93.94%.

About Atrium Mortgage Investment

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.