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Firm Capital Mortgage Investment Corporation (T:FC)

Business Focus: Corporate Financial Services

Sector:  Financials Industry:  Corporate Financial Services
See Regulatory Filings on SEDAR
Company Contact
Address: 163 Cartwright Ave
Tel: N/A
IR: See website
Key People
Stanley Goldfarb
Independent Chairman of the Board
Eli Dadouch
President, Chief Executive Officer, Director
Boris Baril
Chief Financial Officer
Jonathan Mair
Chief Operating Officer, Executive Vice President, Director
Sandy I. Poklar
Executive Vice President, Managing Director - Finance
Joseph Fried
General Counsel, Secretary
Business Overview
Firm Capital Mortgage Investment Corporation is a Canada-based mortgage investment company. The Company is a non-bank lender that finances a range of properties, which include residential houses, small multi-family residential properties consisting of approximately six units, residential apartment buildings, mixed-use residential apartments and store-front properties, investment properties, land and development sites, and development and construction projects. It also invests in all forms of short-term bridge financing for residential and commercial real estate (including, primarily, construction loans for such properties) for owners and developers. Its investment portfolio includes conventional first mortgages, conventional non-first mortgages, non-conventional mortgages, discounted debt investments and related investments. Its non-conventional mortgages include equity and participating mortgage loans; joint venture financing, and mezzanine and subordinated mortgage debt.
Financial Overview
For the three months ended 31 March 2020, Firm Capital Mortgage Investment Corp revenues decreased 11% to C$10.6M. Net income decreased 5% to C$6.2M. Revenues reflect Other income decrease of 10% to C$73K. Net income also reflects General and administrative expenses increase of 36% to C$332K (expense). Dividend per share remained flat at C$0.23. Basic Earnings per Share excluding Extraordinary Items decreased from C$0.25 to C$0.22.
Employees: 1 as of Dec 31, 2019
Reporting Currency: Canadian Dollars
Enterprise value: N/A
Annual revenue (TTM): $46.03M as of Mar 31, 2020
EBITDA (TTM): $29.33M as of Mar 31, 2020
Net annual income (TTM): $27.65M as of Mar 31, 2020
Free cash flow (TTM): $12.04M as of Mar 31, 2020
Net Debt Last Fiscal Year: $195.69M as of Mar 31, 2020
Shares outstanding: 28,700,531 as of Apr 20, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization