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, 2020, Atrium’s mortgage portfolio was $700 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, 2020
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
142 |
$604,880 |
86.4% |
8.28% |
| Second and third mortgages |
22 |
94,893 |
13.6% |
10.13% |
| |
164 |
$699,773 |
100.0% |
8.53% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
144 |
$573,624 |
82.0% |
8.42% |
| Commercial |
20 |
126,149 |
18.0% |
9.07% |
| |
164 |
$699,773 |
100.0% |
8.53% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
123 |
$480,806 |
68.7% |
8.53% |
| Non-GTA Ontario |
22 |
23,372 |
3.3% |
8.30% |
| Alberta |
3 |
15,760 |
2.3% |
8.81% |
| British Columbia |
16 |
179,835 |
25.7% |
8.56% |
| |
164 |
$699,773 |
100.0% |
8.53% |
| AS OF October 30, 2020 |
| Ticker |
TSX: AI |
| Price |
$10.72 |
| Market cap |
$454 million |
| Dividend yield |
9.0% |