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, 2018, Atrium’s mortgage portfolio was $662 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, 2018
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
151 |
$520,354 |
78.6% |
8.40% |
| Second and third mortgages |
47 |
141,950 |
21.4% |
10.38% |
| |
198 |
$662,304 |
100.0% |
8.83% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
174 |
$532,087 |
80.3% |
8.77% |
| Commercial |
24 |
130,217 |
19.7% |
9.06% |
| |
198 |
$662,304 |
100.0% |
8.83% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
151 |
$404,050 |
61.0% |
9.02% |
| Non-GTA Ontario |
24 |
20,035 |
3.0% |
8.36% |
| Saskatchewan |
2 |
20,955 |
3.2% |
7.85% |
| Alberta |
3 |
15,613 |
2.4% |
8.83% |
| British Columbia |
18 |
201,651 |
30.4% |
8.60% |
| |
198 |
$662,304 |
100.0% |
8.83% |
| AS OF October 25, 2018 |
| Ticker |
TSX: AI |
| Price |
$13.27 |
| Market cap |
$483 million |
| Dividend yield |
6.8% |