Atrium Mortgage Investment Corp T.AI

Alternate Symbol(s): T.AI.DB.C | AMIVF | T.AI.DB.D | T.AI.DB.E | T.AI.DB.F | T.AI.DB.G

Atrium Mortgage Investment Corporation is a non-bank lender, which provides financing solutions to commercial real estate and development communities in urban centers in Canada. It provides residential and commercial mortgages that lend 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. It provides a range of lending, which includes land and development financing, construction and mezzanine financing, commercial term and bridge financing, and residential mortgages. It invests in various categories of mortgages, such as house and apartment, low-rise residential, construction, high-rise residential, mid-rise residential, commercial and condominium corporations. It has a range of property and loan types, including land for redevelopment, bridge and term financing, residential apartment buildings, industrial properties and retail properties.

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Atrium Mortgage Investment Corp > Fundamental Research released a new report on Atrium

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Comment by SusanBollandon Feb 02, 2022 1:09pm

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Post# 34389703

RE:Fundamental Research released a new report on Atrium

Investorsnews wrote: Fundamental Research released a new report on Atrium Mortgage Investment Corporation (TSX: AI), Record Lending in Q3 / Investors’ Appetite for MICs to Remain High

As expected, lending increased 27% QoQ amid a strong residential real estate market. Mortgages (net) outstanding increased 8% QoQ to $758M. As repayments are expected to offset advancements in Q4, we are not expecting a material change in portfolio size by the year-end.

We believe AI has lowered its risk profile. Exposure to first mortgages increased to record highs (88%). Lending rates and loan-to-value declined due to higher first mortgages. Exposure to B.C. continued to increase (27% to 32% QoQ), providing more diversification. No realized losses; stage three mortgages (impaired) remained flat QoQ.

Q3 EPS of $0.25 was up 11% due to lower loan loss provisions and beat our estimate by $0.01 per share.

Sector multiples are up 2% since our previous report in August, but 1.7% below pre-pandemic levels. We expect multiples to revert to pre-pandemic levels. AI’s shares are up 36% YoY, and are trading near all-time highs. Although AI has sufficient unused lines of credit, we believe AI might pursue equity financing.

Read the full report: https://www.researchfrc.com/atrium-mortgage-investment-corporation-tsx-airecord-lending-in-q3-investors-appetite-for-mics-to-remain-high/

Read the report

*FRC provides issuer paid coverage.
*Past performance is not indicative of future results.