Investor Fact Sheet
Atrium Mortgage Investment Corporation was established in 2001 and is a non-bank
lender that makes mortgage loans ranging from $300,000 to $30 million,
focused primarily on real estate in major Canadian urban centres. The bank
oligopoly in Canada provides safe opportunities for non-bank lenders like Atrium. As
of June 30, 2020, Atrium’s mortgage portfolio was $680 million with stable
dividends paid monthly, plus a special dividend once a year. Atrium has an
uninterrupted record of dividends since its inception. The average mortgage term
Atrium provides is 18 months which allows mortgage rates to be re-priced as
interest rates rise, unlike bond and fixed income funds.
Atrium is managed by Canadian Mortgage Capital Corporation (CMCC), a
major mortgage brokerage and advisory services company, established in 1994.
Current Portfolio Composition
June 30, 2020
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
146 |
$580,325 |
85.4% |
8.25% |
| Second and third mortgages |
27 |
99,630 |
14.6% |
10.23% |
| |
173 |
$679,955 |
100.0% |
8.55% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
153 |
$555,656 |
81.7% |
8.43% |
| Commercial |
20 |
124,299 |
18.3% |
9.08% |
| |
173 |
$679,955 |
100.0% |
8.55% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
132 |
$473,288 |
69.6% |
8.52% |
| Non-GTA Ontario |
23 |
23,475 |
3.4% |
8.30% |
| Alberta |
3 |
15,437 |
2.3% |
8.81% |
| British Columbia |
15 |
167,755 |
24.7% |
8.59% |
| |
173 |
$679,955 |
100.0% |
8.55% |
| AS OF July 29, 2020 |
| Ticker |
TSX: AI |
| Price |
$10.65 |
| Market cap |
$451 million |
| Dividend yield |
9.0% |