- Timbercreek Financial (TF) had a strong second quarter, where it continued to perform well compared to the previous quarter and year-over-year
- The company brought in a net income of $13.5 million in the second quarter of 2021
- At the end of the quarter, the company’s basic and diluted earnings per share was $0.17
- Timbercreek Financial is a Canadian non-banking commercial real estate lender
- Timbercreek Financial (TF) closed trading up 0.94 per cent, trading at $9.63 per share
Timbercreek Financial (TF) had a strong second quarter, where it continued to perform well compared to the previous quarter and year-over-year.
The company brought in a net income of $13.5 million in the second quarter of 2021, which was slightly less than the $15 million generated in Q1 and up from $11.7 million in Q2 2020.
With 89.9 per cent of its mortgage investment portfolio invested in cash-flowing properties, the company maintained a conservative portfolio focused on income-producing commercial real estate.
Blair Tamblyn, CEO of Timbercreek Financial, commented on the strong results.
“The portfolio continues to perform well, and transaction activity was solid against an improving backdrop for commercial real estate transactions,” he remarked.
“We have an expanded capital base and the financial flexibility to achieve steady growth of the total portfolio as opportunities allow.”
At the end of the quarter, the company’s basic and diluted earnings per share were $0.17 after generating $0.20 in distributable income per share and $0.19 in adjusted distributable income per share.
Timbercreek Financial is a Canadian non-banking commercial real estate lender. The company provides shorter-duration, customized financing solutions to professional real estate investors.
Timbercreek Financial (TF) closed trading up 0.94 per cent, trading at $9.63 per share as of 4:00 pm ET.