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, 2021, Atrium’s mortgage portfolio was $767.1 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, 2021
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
183
|
$701,520 |
91.4% |
8.17% |
| Second and third mortgages |
14 |
65,611 |
8.6% |
9.26% |
| |
197 |
$767,131 |
100.0% |
8.26% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
181 |
$683,619 |
89.1% |
8.18% |
| Commercial |
16 |
83,512 |
10.9% |
8.87% |
| |
197 |
$767,131 |
100.0% |
8.26% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
126 |
$472,851 |
61.6% |
8.34% |
| Non-GTA Ontario |
44 |
33,361 |
4.4% |
7.65% |
| Alberta |
2 |
7,148 |
0.9% |
8.90% |
| British Columbia |
25 |
253,771 |
33.1% |
8.17% |
| |
197 |
$767,131 |
100.0% |
8.26% |
| AS OF February 15, 2022 |
| Ticker |
TSX: AI |
| Price |
$14.27 |
| Market cap |
$611 million |
| Dividend yield |
6.8% |