Last C$8.63 CAD
Change Today +0.13 / 1.53%
Volume 65.9K
MTG On Other Exchanges
Symbol
Exchange
Toronto
As of 1:00 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

timbercreek senior mortgag (MTG) Snapshot

Open
C$8.47
Previous Close
C$8.50
Day High
C$8.63
Day Low
C$8.40
52 Week High
07/28/14 - C$9.45
52 Week Low
12/19/14 - C$8.34
Market Cap
272.3M
Average Volume 10 Days
83.8K
EPS TTM
C$0.59
Shares Outstanding
31.6M
EX-Date
12/29/14
P/E TM
14.6x
Dividend
C$0.60
Dividend Yield
6.95%
Current Stock Chart for TIMBERCREEK SENIOR MORTGAG (MTG)

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timbercreek senior mortgag (MTG) Details

Timbercreek Senior Mortgage Investment Corporation is an investment fund launched and managed by Timbercreek Asset Management Inc. The fund invests in a diversified portfolio of high quality conventional first mortgage loans secured directly by residential, office, retail, and industrial real property across Canada. It primarily invests in first mortgages that generally involve longer terms and a higher debt service coverage ratio. Timbercreek Senior Mortgage Investment Corporation was founded on December 1, 2011 and is domiciled in Canada.

timbercreek senior mortgag (MTG) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: --
Chief Financial Officer and Vice President
Total Annual Compensation: --
Chairman and Corporate Secretary
Total Annual Compensation: --
Portfolio Manager and Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

timbercreek senior mortgag (MTG) Key Developments

Timbercreek Senior Mortgage Investment Corporation Exercises Accordion Feature of its Credit Agreement

Timbercreek Senior Mortgage Investment Corporation announced that it has completed the exercise of the accordion feature of its credit agreement between the company, The Toronto-Dominion Bank as administrative agent, and the syndicated lenders thereto. The exercise of the Accordion Feature has increased the total revolving commitment of the lenders by $45,000,000, bringing the facility limit to $190,000,000, while keeping leverage below 40% of total assets. General terms of the credit facility remain unchanged.

Timbercreek Senior Mortgage Investment Corporation Declares November 2014 Dividend, Payable on December 15, 2014

Timbercreek Senior Mortgage Investment Corporation announced that its board of directors has declared a monthly dividend of $0.05 per common share of the company. The dividend will be paid on December 15, 2014 to holders of Common Shares of record on November 28, 2014.

Timbercreek Senior Mortgage Investment Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Timbercreek Senior Mortgage Investment Corporation reported earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company’s net interest income was $6.6 million compared to $7.4 million for the comparable period in 2013, or a 10.0% decrease. Income from operations increased to $5.5 million or 126.1% compared to $2.4 million for the comparable period in 2013. Net mortgage investments were increased by 22.0% to $417.7 million from $341.2 million as at June 30, 2014. Earnings per share were $0.15 per common share. For the nine months, the company’s net interest income was $21.0 million compared to $20.9 million for the comparable period in 2013, or a 0.4% increase. Although a decrease in comparison to the comparable three month period, overall year to date 2014 has experienced a slight increase in net interest income. This increase is in spite of smaller average net mortgage investments through the Period resulting from the one-time redemption in late 2013 relating to the company's transition to the regulatory regime for non-investment fund reporting issuers. Income from operations increased to $17.3 million or 36.2% compared to $12.7 million for the comparable period in 2013. The increase is primarily due to the one-time cost incurred of $3.7 million relating to the company's transition in 2013. Net mortgage investments were increased by 4.0% to $417.7 million from $401.5 million as at December 31, 2013. Earnings per share were $0.45 per common share.

 

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To contact TIMBERCREEK SENIOR MORTGAG, please visit www.timbercreek.com/investments/timbercreek-senior-mortgage-investment-corporation/overview. Company data is provided by Capital IQ. Please use this form to report any data issues.

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