Capital Direct I Income Trust – Robust Outlook for 2023 Amid Higher Rates
Highlights 2022 (9M) yield was 6.3% (beating our estimate by 12bps) vs 6.1% in 2021 (full-year)....
Read MoreHighlights 2022 (9M) yield was 6.3% (beating our estimate by 12bps) vs 6.1% in 2021 (full-year)....
Read MoreHighlights Despite the pandemic, this company expanded its mortgage receivables by 32% YTD to...
Read MoreDespite the pandemic, Capital Direct expanded its mortgage receivable by 21% YTD to $243M, across 1,697 properties, by the end of Q3-2020. The company maintains its spot among the 15 largest mortgage investment entities in Canada.Due to lower lending rates, and slightly higher losses (0.28% of portfolio in 2020-9M vs 0.24% in 2019), annualized dividends declined in 2020 (9M) to 6.9%, from 7.4% in 2019 (full year). We expect yields to increase to 7.2% in 2021.
Read MoreKey Highlights Capital Direct I Income Trust’s (“trust”, “fund”) portfolio size (gross mortgage receivables) hit a record high of $200 million at the end of Q3-2019 (September 30, 2019), up 8% YTD. Revenues grew 14% YoY in 2019...
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