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Firm Capital Mortgage Investment Corporation (T:FC)

Business Focus: Retail & Mortgage Banks

Sector:  Financials Industry:  Banks
See Regulatory Filings on SEDAR
Company Contact
Address: 163 Cartwright Ave
Tel: N/A
IR: See website
Key People
Eli Dadouch
President, Chief Executive Officer, Director
Ryan M. Lim
Chief Financial Officer
Jonathan Mair
Chief Operating Officer, Executive Vice President, Director
Sandy I. Poklar
Executive Vice President - Finance, Managing Director
Victoria Shali Granovski
Senior Vice President, Secretary, Director, Credit and Equity Capital
Joseph Fried
Business Overview
Firm Capital Mortgage Investment Corporation is a Canada-based mortgage investment company. The Company is a non-bank lender providing primarily residential and commercial short-term bridge and conventional real estate financing, including construction, mezzanine, and equity investments. The Company's primary investment objective is the preservation of shareholders equity, while providing shareholders with a stable stream of dividends from the Company's investments. It achieves its investment objectives by pursuing a strategy of investing in loans in niche real estate markets. Firm Capital Corporation is the Company's mortgage banker and acts as the loan originator, underwriter, servicer and syndicator. Its investment portfolio includes conventional first mortgages, conventional non-first mortgages, related debt investments, debtor in possession loan, discounted debt investments and non-conventional mortgages. FC Treasury Management Inc. is its investment manager.
Financial Overview
For the three months ended 31 March 2022, Firm Capital Mortgage Investment Corp revenues increased 10% to C$12.6M. Net income increased 8% to C$7.9M. Revenues reflect Other income - Balancing value increase from -C$5K to C$0K. Dividend per share decreased from C$0.31 to C$0.23. Basic Earnings per Share excluding Extraordinary Items decreased from C$0.24 to C$0.23.
Employees: 1 as of Dec 31, 2020
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $49.01M as of Mar 31, 2022
EBITDA (TTM): $31.25M as of Mar 31, 2022
Net annual income (TTM): $30.54M as of Mar 31, 2022
Free cash flow (TTM): $12.23M as of Mar 31, 2022
Net Debt Last Fiscal Year: $209.11M as of Mar 31, 2022
Shares outstanding: 34,483,256 as of May 9, 2022
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization