CMTG Q2 GAAP net income $4.3M but distributable loss of $14.5M; $67M charge-off on NYC property

Claros Mortgage Trust, Inc.

2023-Q2 EPS reported $0.28 revenue$150,027,000

GAAP net income $4.3M ($0.02 diluted EPS); Distributable Loss ($14.5M) or ($0.10) per share.
Distributable Earnings prior to charge-off $50.3M ($0.35/share); dividend maintained at $0.37/share for Q2.
Acquired mixed-use NYC property via assignment-in-lieu of foreclosure, recording ~$67M principal charge-off.
Portfolio $7.5B with weighted avg yield 9.2%; 41% multi-family exposure; funded $162M in follow-on fundings.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Claros Mortgage Trust, Inc. reported quarter ended June 30, 2023 results: net income GAAP net income was $4.3 million, EPS $0.02 per diluted share of common stock.

Period: quarter ended June 30, 2023
Net income: GAAP net income was $4.3 million
EPS: $0.02 per diluted share of common stock
Result: reported results

Exact text from the filing

Claros Mortgage Trust, Inc. (NYSE: CMTG) (the “Company” or “CMTG”) today reported its financial results for the quarter ended June 30, 2023. The Company’s second quarter 2023 GAAP net income was $4.3 million, or $0.02 per diluted share of common stock.

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Claros Mortgage Trust, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-036500

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