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, 2019, Atrium’s mortgage portfolio was $736 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, 2019
($000s) |
|
|
| Description |
Number of mortgages |
Amount |
Percentage |
Weighted
average yield |
| Type of Mortgage
|
|
|
|
|
| First mortgages |
165 |
$625,488 |
85.0% |
8.51% |
| Second and third mortgages |
34 |
110,538 |
15.0% |
10.52% |
| |
199 |
$736,026 |
100.0% |
8.81% |
| |
|
|
|
|
| Nature of underlying property
|
|
|
|
|
| Residential |
178 |
$607,860 |
82.6% |
8.82% |
| Commercial |
21 |
128,166 |
17.4% |
8.80% |
| |
199 |
$736,026 |
100.0% |
8.81% |
| |
|
|
|
|
| Location of underlying property
|
|
|
|
|
| Greater Toronto Area |
155 |
$491,990 |
66.8% |
8.91% |
| Non-GTA Ontario |
23 |
24,749 |
3.4% |
8.31% |
| Alberta |
4 |
15,047 |
2.0% |
8.80% |
| British Columbia |
17 |
204,240 |
27.8% |
8.65% |
| |
199 |
$736,026 |
100.0% |
8.81% |
| AS OF August 1, 2019 |
| Ticker |
TSX: AI |
| Price |
$13.66 |
| Market cap |
$539 million |
| Dividend yield |
6.9% |