Atrium Mortgage Investment Corp
TSX:AI
Atrium Mortgage Investment Corp
Atrium Mortgage Investment Corp. is engaged in providing financing solutions in both the commercial and residential real estate sectors. The company is headquartered in Toronto, Ontario and currently employs 0 full-time employees. The company went IPO on 2012-09-04. The firm provides residential and commercial mortgages that lends in urban centers in Canada. Its investment objectives are to preserve its shareholders’ equity and provide its shareholders with stable and secure dividends from its investments in mortgage loans. Its mortgage portfolio consists of approximately 165 mortgage loans. The company invests in various categories of mortgages, such as house and apartment, low-rise residential, construction, high-rise residential, mid-rise residential, commercial and condominium corporation. The company has a range of property and loan types, including land for redevelopment, bridge and term financing, residential apartment buildings, industrial properties, retail properties, office buildings, condo inventory loans, mixed use properties, parking lots and storage facilities.
Atrium Mortgage Investment Corp. is engaged in providing financing solutions in both the commercial and residential real estate sectors. The company is headquartered in Toronto, Ontario and currently employs 0 full-time employees. The company went IPO on 2012-09-04. The firm provides residential and commercial mortgages that lends in urban centers in Canada. Its investment objectives are to preserve its shareholders’ equity and provide its shareholders with stable and secure dividends from its investments in mortgage loans. Its mortgage portfolio consists of approximately 165 mortgage loans. The company invests in various categories of mortgages, such as house and apartment, low-rise residential, construction, high-rise residential, mid-rise residential, commercial and condominium corporation. The company has a range of property and loan types, including land for redevelopment, bridge and term financing, residential apartment buildings, industrial properties, retail properties, office buildings, condo inventory loans, mixed use properties, parking lots and storage facilities.
Net Income: Atrium reported net income of $11.9 million in Q3, up 2.5% from last year.
EPS & Dividend: Q3 earnings per share were $0.25, exceeding the fixed dividend of $0.2325 per share.
Portfolio Growth: The mortgage portfolio grew to $917.3 million, with strong loan production despite a slow real estate market.
Credit Facility: Atrium increased its credit facility by $40 million to $380 million, maintaining strong liquidity.
Loan Quality: Loan loss reserve increased slightly to $29.5 million, with active management of Stage 2 and Stage 3 loans.
Interest Rate Trends: The average mortgage rate dropped to 9.2% in Q3, reflecting Bank of Canada rate cuts, but is expected to be steady going forward.
Real Estate Market: Canadian housing and new home sales remain weak, but commercial real estate has stabilized.
Outlook: Portfolio size is expected to increase slightly in Q4, with continued focus on lower risk sectors.
