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 December 31, 2018, Atrium’s mortgage portfolio was $684 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
December 31, 2018
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
167 |
$575,619 |
84.1% |
8.55% |
| Second and third mortgages |
41 |
108,785 |
15.9% |
10.44% |
| |
208 |
$684,404 |
100.0% |
8.85% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
188 |
$585,211 |
85.5% |
8.80% |
| Commercial |
20 |
99,193 |
14.5% |
9.15% |
| |
208 |
$684,404 |
100.0% |
8.85% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
162 |
$431,334 |
63.0% |
8.94% |
| Non-GTA Ontario |
26 |
29,160 |
4.3% |
8.28% |
| Alberta |
3 |
15,698 |
2.3% |
8.83% |
| British Columbia |
17 |
208,212 |
30.4% |
8.76% |
| |
208 |
$684,404 |
100.0% |
8.85% |
| AS OF February 14, 2019 |
| Ticker |
TSX: AI |
| Price |
$13.15 |
| Market cap |
$516 million |
| Dividend yield |
6.8% |