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, 2019, Atrium’s mortgage portfolio was $708 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, 2019
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
171 |
$597,323 |
84.4% |
8.61% |
| Second and third mortgages |
37 |
110,393 |
15.6% |
10.50% |
| |
208 |
$707,716 |
100.0% |
8.90% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
188 |
$611,627 |
86.3% |
8.86% |
| Commercial |
20 |
96,089 |
13.7% |
9.17% |
| |
208 |
$707,716 |
100.0% |
8.90% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
161 |
$456,406 |
64.5% |
9.00% |
| Non-GTA Ontario |
26 |
29,830 |
4.2% |
8.26% |
| Alberta |
4 |
14,817 |
2.1% |
8.80% |
| British Columbia |
17 |
206,663 |
29.2% |
8.79% |
| |
208 |
$707,716 |
100.0% |
8.90% |
| AS OF May 7, 2019 |
| Ticker |
TSX: AI |
| Price |
$13.46 |
| Market cap |
$530 million |
| Dividend yield |
7.0% |