Firm Capital Mortgage Investment (TSE:FC) Stock Price Breaks Below 200-Day Moving Average of $13.41

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Shares of Firm Capital Mortgage Investment Co. (TSE: FC – Get Rating) fell below its 200-day moving average during Friday’s trading. The stock has a 200-day moving average of C$13.41 and is trading as low as C$12.09. Shares of Firm Capital Mortgage Investment last traded at C$12.17, with volume of 25,146 shares changing hands.

Analysts set new price targets

A number of research analysts have weighed in on the stock recently. TD Securities lowered its price target on shares of Firm Capital Mortgage Investment from C$15.50 to C$14.50 and set a “buy” rating on the stock in a Wednesday research report May 18. Laurentian Bank of Canada lowered its price target on shares of Firm Capital Mortgage Investment to C$14.00 in a Monday, May 16 research report. Finally, Laurentian lowered its price target on shares of Firm Capital Mortgage Investment from C$16.00 to C$14.00 in a Monday, May 16 research report.

Firm mortgage investments are trading up 0.3%

The company has a market capitalization of C$419.67 million and a P/E ratio of 12.95. The company has a quick ratio of 25.34, a current ratio of 25.35 and a debt ratio of 54.03. The company’s 50-day simple moving average is C$12.22 and its 200-day simple moving average is C$13.41.

Firm Capital Mortgage Investment (TSE: FC – Get Rating) last released its results on Tuesday, May 10. The company reported earnings per share of CA$0.23 for the quarter. The company recorded revenue of C$12.59 million during the quarter. As a group, analysts expect Firm Capital Mortgage Investment Co. to post earnings per share of 0.9965368 for the current year.

Firm Capital Mortgage Investment Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 15. Investors of record on Monday August 15 will receive a dividend of $0.078 per share. The ex-dividend date is Thursday July 28. This represents an annualized dividend of $0.94 and a yield of 7.69%. Firm Capital Mortgage Investment’s dividend payout ratio is currently 99.57%.

About Firm Equity Mortgage Investing

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Firm Capital Mortgage Investment Corporation, through its mortgage banker, Firm Capital Corporation, provides short-term residential and commercial bridge loans and conventional real estate financing in Canada. It deals with the origination, financing, purchase and management of mortgage investments. The Company also offers mortgage services, such as real estate finance, real estate investment finance, capital market and lending and advisory services; and a line of lending programs, including construction and development loans, investment property financing, short-term loans, bridge financing, mezzanine and equity investments, capital market facilities , residential and non-conventional loans and condominium capital improvement loans, as well as special situation loans.

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