AWM Diversified Mortgage Investment Corporation
FY2024 Breaks Records; Lower Rates Enhance Appeal
Published: 9/12/2024
Author: FRC Analysts

Sector: Mortgage | Industry: Mortgage
Ticker Symbols:
Rating and Key Data
Metrics | Value |
---|---|
Current Price | CAD $ |
Fair Value | CAD $ |
Risk | 2 |
52 Week Range | CAD $ |
Shares O/S (M) | N/A |
Market Cap. (M) | CAD $ |
Current Yield (%) | 9.1 |
P/E (forward) | N/A |
P/B | N/A |
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Report Highlights
- AWM Diversified MIC is one of the larger Mortgage Investment Corporations (MICs) in Canada. The MIC is focused on first/second mortgages on single family residential units.
- In FY2024 (12 months ended March 2024), mortgage receivables were up 9% to $243M (the highest in AWM’s history) vs our forecast of $250M.
- The yield increased from 8.1% in FY2023, to 8.7% in FY2024 vs our forecast of 8.3%.
- In FY2024, the MIC achieved record revenue and net income. Net income was up 20% YoY, beating our