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 June 30, 2021, Atrium’s mortgage portfolio was $710.6 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
June 30, 2021
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
146 |
$596,551 |
84.0% |
8.26% |
| Second and third mortgages |
19 |
114,008 |
16.0% |
10.13% |
| |
165 |
$710,559 |
100.0% |
8.56% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
145 |
$566,267 |
79.7% |
8.46% |
| Commercial |
20 |
144,292 |
20.3% |
8.97% |
| |
165 |
$710,559 |
100.0% |
8.56% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
112 |
$483,682 |
68.0% |
8.69% |
| Non-GTA Ontario |
33 |
26,215 |
3.7% |
7.83% |
| Alberta |
2 |
6,838 |
1.0% |
8.89% |
| British Columbia |
18 |
193,824 |
27.3% |
8.33% |
| |
165 |
$710,559 |
100.0% |
8.56% |
| AS OF July 29, 2021 |
| Ticker |
TSX: AI |
| Price |
$14.64 |
| Market cap |
$624 million |
| Dividend yield |
6.3% |