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 September 30, 2019, Atrium’s mortgage portfolio was $739 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
September 30, 2019
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
158 |
$631,473 |
85.4% |
8.50% |
| Second and third mortgages |
31 |
107,993 |
14.6% |
10.54% |
| |
189 |
$739,466 |
100.0% |
8.80% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
170 |
$611,211 |
82.7% |
8.80% |
| Commercial |
19 |
128,255 |
17.3% |
8.79% |
| |
189 |
$739,466 |
100.0% |
8.80% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
151 |
$496,083 |
67.1% |
8.88% |
| Non-GTA Ontario |
18 |
24,789 |
3.3% |
8.34% |
| Alberta |
4 |
15,356 |
2.1% |
8.80% |
| British Columbia |
16 |
203,238 |
27.5% |
8.66% |
| |
189 |
$739,466 |
100.0% |
8.80% |
| AS OF October 31, 2019 |
| Ticker |
TSX: AI |
| Price |
$13.81 |
| Market cap |
$575 million |
| Dividend yield |
6.8% |