Atrium Mortgage Investment Corporation
2024 Kicks Off with Record Revenue and Reduced Risk Profile
Published: 5/16/2024
Author: FRC Analysts
Sector: Financial Services | Industry: Mortgage Finance
Ticker Symbols:
AI.TO - TSX 🔹
AMIVF - NASDAQ 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $11.16 |
| Fair Value | CAD $13.21 |
| Risk | 3 |
| Week Range | CAD $9076-11.70 |
| Shares O/S (M) | 44 |
| Market Cap. (M) | CAD $494 |
| Current Yield (%) | 9.9 |
| P/E (forward) | 10.0 |
| P/B | 1.0 |
- In Q1-2024, AI recorded its highest-ever Q1 revenue (up 6% YoY), amid higher lending rates, but missed our estimate by 1%.
- EPS was down 18% YoY, driven by higher loan loss provisions, but aligned with our estimate. Annual regular dividends remained unchanged at $0.90/share.
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $11.16 |
| Fair Value | CAD $13.21 |
| Risk | 3 |
| Week Range | CAD $9076-11.70 |
| Shares O/S (M) | 44 |
| Market Cap. (M) | CAD $494 |
| Current Yield (%) | 9.9 |
| P/E (forward) | 10.0 |
| P/B | 1.0 |
