Atrium Mortgage Investment Corporation Announces Strong Third Quarter Earnings per Share
Rhea-AI Summary
Atrium Mortgage Investment Corporation (AMIVF) reported Q3 2025 results: basic and diluted EPS $0.25 (vs $0.26 prior year) and net income $11.9 million, up 2.5% year-over-year. Mortgage portfolio totaled $917.3 million with 96.0% first mortgages, 94.3% of loans 75% LTV and a weighted average LTV of
Positive
- Financing costs down 24.5% quarter-over-year
- Provision for mortgage losses down 53% versus prior quarter
- Dividends declared up 10.8% versus prior year quarter
- Credit facility expanded from $340M to $380M
Negative
- Revenue declined 14.2% for Q3 2025 versus Q3 2024
News Market Reaction
On the day this news was published, AMIVF gained 1.10%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - November 12, 2025) - Atrium Mortgage Investment Corporation (TSX: AI) today released its financial results for the three and nine months periods ended September 30, 2025.
Highlights
Quarterly basic and diluted earnings per share of
$0.25 , compared with$0.26 in the previous yearQuarterly net income of
$11.9 million , an increase of2.5% from the previous yearMortgage portfolio of
$917.3 million High quality mortgage portfolio
96.0% of portfolio in first mortgages94.3% of portfolio is less than75% loan-to-valueaverage loan-to-value is
60.8%
"Atrium continues to deliver strong and stable earnings per share, even amid a challenging economic environment. Loan originations for the first nine months of 2025 have increased compared to the same period last year, reflecting the dedication and expertise of our underwriting team in maintaining high-quality standards and low loan-to-value ratios," noted Rob Goodall, CEO of Atrium. "Subsequent to quarter end, we expanded our line of credit from
Conference call
Interested parties are invited to participate in a conference call with management on Thursday, November 13, 2025 at 4:00 p.m. ET to discuss the results. To participate or listen to the conference call live, please call 1-833-491-0507 (call topic: third quarter results). For a replay of the conference call (available until November 27, 2025) please call 1-833-607-0619, passcode 4780303#.
Results of operations
For the three months ended September 30, 2025, Atrium reported assets of
Basic and diluted earnings per common share were
Mortgages receivable as at September 30, 2025 were
Update to previous news release
On June 30, 2025, Atrium announced that a public offering of debentures was terminated due to additional time required by a predecessor auditor to complete further remediation procedures identified by the Canadian Public Accountability Board over and above the initial remediation procedures previously performed. Atrium has been informed by the predecessor auditor that the remediation procedures have been completed and the audit opinions for Atrium's annual financial statements as at and for the years ended December 31, 2023 and 2024 are fully supported and no restatements are required.
Financial summary
Interim Consolidated Statements of Income and Comprehensive Income
(Unaudited, 000s, except per share amounts)
| Three months ended | Nine months ended | |||||||||||
| September 30, | September 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| Revenue | $ | 21,039 | $ | 24,514 | $ | 64,187 | $ | 74,637 | ||||
| Mortgage servicing and management fees | (2,191 | ) | (2,168 | ) | (6,557 | ) | (6,414 | ) | ||||
| Other expenses | (486 | ) | (414 | ) | (1,631 | ) | (1,064 | ) | ||||
| Recovery of prior mortgage loss | 335 | - | 473 | 183 | ||||||||
| Provision for mortgage losses | (1,632 | ) | (3,488 | ) | (3,925 | ) | (11,707 | ) | ||||
| Income before financing costs | 17,065 | 18,444 | 52,547 | 55,635 | ||||||||
| Financing costs | (5,165 | ) | (6,839 | ) | (15,633 | ) | (20,460 | ) | ||||
| Net income and comprehensive income | $ | 11,900 | $ | 11,605 | $ | 36,914 | $ | 35,175 | ||||
| Basic earnings per share | $ | 0.25 | $ | 0.26 | $ | 0.78 | $ | 0.79 | ||||
| Diluted earnings per share | $ | 0.25 | $ | 0.26 | $ | 0.78 | $ | 0.79 | ||||
| Dividends declared | $ | 11,087 | $ | 10,004 | $ | 33,130 | $ | 29,906 | ||||
| Mortgages receivable, end of period | $ | 893,266 | $ | 902,318 | $ | 893,266 | $ | 902,318 | ||||
| Total assets, end of period | $ | 894,421 | $ | 903,562 | $ | 894,421 | $ | 903,562 | ||||
| Shareholders' equity, end of period | $ | 526,953 | $ | 493,610 | $ | 526,953 | $ | 493,610 | ||||
| Book value per share, end of period | $ | 11.03 | $ | 11.09 | $ | 11.03 | $ | 11.09 | ||||
Analysis of mortgage portfolio
| As at September 30, 2025 | As at December 31, 2024 | ||||||||||||||||
| Outstanding | % of | Outstanding | % of | ||||||||||||||
| Property Type | Number | amount | Portfolio | Number | amount | Portfolio | |||||||||||
| (outstanding amounts in 000s) | |||||||||||||||||
| High-rise residential | 19 | $ | 253,455 | 17 | $ | 247,202 | |||||||||||
| Mid-rise residential | 14 | 109,146 | 20 | 139,738 | |||||||||||||
| Low-rise residential | 13 | 127,159 | 12 | 152,827 | |||||||||||||
| House and apartment | 254 | 175,643 | 219 | 154,713 | |||||||||||||
| Condominium corporation | 4 | 1,123 | 6 | 1,279 | |||||||||||||
| Residential portfolio | 304 | 666,526 | 274 | 695,759 | |||||||||||||
| Commercial | 26 | 250,785 | 24 | 190,939 | |||||||||||||
| Mortgage portfolio | 330 | $ | 917,311 | 298 | $ | 886,698 | |||||||||||
| As at September 30, 2025 | ||||||||||||
| Weighted | Weighted | |||||||||||
| Number of | Outstanding | Percentage | average | average | ||||||||
| Location of underlying property | mortgages | amount | outstanding | loan-to-value | interest rate | |||||||
| (outstanding amounts in 000s) | ||||||||||||
| Greater Toronto Area | 245 | $ | 799,264 | |||||||||
| Non-GTA Ontario | 69 | 51,425 | ||||||||||
| British Columbia | 16 | 66,622 | ||||||||||
| 330 | $ | 917,311 | ||||||||||
| As at December 31, 2024 | ||||||||||||
| Weighted | Weighted | |||||||||||
| Number of | Outstanding | Percentage | average | average | ||||||||
| Location of underlying property | mortgages | amount | outstanding | loan-to-value | interest rate | |||||||
| (outstanding amounts in 000s) | ||||||||||||
| Greater Toronto Area | 211 | $ | 791,809 | |||||||||
| Non-GTA Ontario | 73 | 40,816 | ||||||||||
| British Columbia | 14 | 54,073 | ||||||||||
| 298 | $ | 886,698 | ||||||||||
Loan-to-value is calculated as a weighted average of the mortgage commitment, including loans outstanding, divided by the value of the underlying asset. Book value per share is calculated as shareholders' equity divided by the number of shares outstanding at the reporting date.
For further information on the financial results, and further analysis of the company's mortgage portfolio, please refer to Atrium's interim consolidated financial statements and its management's discussion and analysis for the three- and nine-month periods ended September 30, 2025, available on SEDAR+ at www.sedarplus.ca, and on the company's website at www.atriummic.com.
About Atrium
Canada's Premier Non-Bank Lender™
Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters. Atrium is a Mortgage Investment Corporation (MIC) as defined in the Canada Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information about Atrium, please refer to regulatory filings available at www.sedarplus.ca or investor information on Atrium's website at www.atriummic.com.
For additional information, please contact
Robert G. Goodall
Chief Executive Officer
Jeffrey D. Sherman
Interim Chief Financial Officer
(416) 867-1053
info@atriummic.com
www.atriummic.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274198
FAQ
What were Atrium (AMIVF) Q3 2025 earnings per share and net income?
How large is Atrium's mortgage portfolio as of September 30, 2025 (AMIVF)?
What changes to Atrium's credit facility were announced after Q3 2025 (AMIVF)?
Did Atrium (AMIVF) report any change in portfolio quality or LTV in Q3 2025?
Was there a change in Atrium's auditor announced with the Q3 2025 results (AMIVF)?
How did Atrium (AMIVF) revenue and financing costs move in Q3 2025?
