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, 2021, Atrium’s mortgage portfolio was $758 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, 2021
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
164
|
$672,538 |
87.8% |
8.22% |
| Second and third mortgages |
15 |
93,151 |
12.2% |
9.87% |
| |
179 |
$765,689 |
100.0% |
8.42% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
160 |
$625,928 |
81.7% |
8.27% |
| Commercial |
19 |
139,761 |
18.3% |
9.09% |
| |
179 |
$765,689 |
100.0% |
8.42% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
113 |
$481,406 |
62.9% |
8.55% |
| Non-GTA Ontario |
42 |
32,024 |
4.2% |
7.71% |
| Alberta |
2 |
6,900 |
0.9% |
8.90% |
| British Columbia |
22 |
245,359 |
32.0% |
8.23% |
| |
179 |
$765,689 |
100.0% |
8.42% |
| AS OF October 28, 2021 |
| Ticker |
TSX: AI |
| Price |
$14.54 |
| Market cap |
$621 million |
| Dividend yield |
6.3% |