Timbercreek Senior Mortgage Investment Corp., $9.34, symbol MTG on Toronto (Shares outstanding: 31.6 million; Market cap: $295.1 million; www.timbercreek.com), is a mortgage investment corporation.
Mortgage investment corporations, or MICs, invest in pools of mortgages and distribute most of their profits to their shareholders. Some MICs yield 6% or 7% or more annually. They sound like conservative investments because they invest in mortgages rather than equity. However, mortgages vary widely in their investment quality and risk. MICs can earn high profits because they take on riskier mortgages.
Timbercreek Senior Mortgage Investment Corp. yields 6.4%.
Conservative mortgage lenders, such as banks and mortgage funds, mainly invest in top-quality first mortgages on commercial, industrial and/or residential properties.
Timbercreek’s loans are primarily interest-only and are used to bridge a period up to three years for such items as repair and redevelopment or the purchase of another property, with a loan-to-value ratio up to 70%.
Interest rates on MIC loans are higher than on corporate or government bonds with the…
Privacy Policy and Terms of Use
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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TSI Network may revise this Policy from time to time.
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