Canada’s Trez Capital Senior Mortgage Investment Corporation has reported strong first quarter results for 2015 despite a slight dip in revenue.
Canada’s Trez Capital Senior Mortgage Investment Corporation has reported strong first quarter results for 2015 despite a slight dip in revenue. The company has a wide portfolio of first mortgages across Ontario, Alberta, British Columbia and Nova Scotia. For the period ended March 31 2015 the company’s net income was $1.1 million (down from $1.2 million a year earlier) with income from operations at $1.4 million (down from $1.5 million a year earlier.) Weighted average loan-to-value of the mortgage portfolio was 38.5 per cent, well below the Company's Investment Guideline of 70 per cent. Weighted average interest rate and term to maturity on mortgage investments was 6.1% and 17 months respectively.
