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 March 31, 2021, Atrium’s mortgage portfolio was $765 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
March 31, 2021
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
142 |
$632,639 |
82.7% |
8.26% |
| Second and third mortgages |
22 |
132,587 |
17.3% |
10.14% |
| |
164 |
$765,226 |
100.0% |
8.58% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
144 |
$610,338 |
79.8% |
8.52% |
| Commercial |
20 |
154,888 |
20.2% |
8.83% |
| |
164 |
$765,226 |
100.0% |
8.58% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
117 |
$550,018 |
71.9% |
8.63% |
| Non-GTA Ontario |
28 |
26,095 |
3.4% |
8.10% |
| Alberta |
2 |
6,771 |
0.9% |
8.89% |
| British Columbia |
17 |
182,342 |
23.8% |
8.51% |
| |
164 |
$765,226 |
100.0% |
8.58% |
| AS OF May 14, 2021 |
| Ticker |
TSX: AI |
| Price |
$13.99 |
| Market cap |
$594 million |
| Dividend yield |
6.6% |