CMTG Q3 GAAP net loss $68.9M ($0.50/sh); distributable loss $0.16/sh

Claros Mortgage Trust, Inc.

2023-Q3 EPS reported -$0.22 revenue$230,580,000

GAAP net loss of $68.9M ($0.50 diluted EPS) vs. prior quarter; Distributable Loss of $22.8M ($0.16/sh).
Distributable Earnings before realized gains/charge-offs was $49.6M ($0.35/sh); $73M charge-off on San Francisco multifamily loan sale.
Loan portfolio $7.1B with 9.5% weighted avg all-in yield; received $287M repayments, funded $174M follow-on fundings.
CECL reserves increased $0.27 to $1.10 per share; total liquidity $432M; Q3 dividend of $0.25/sh maintained.
CEO cites challenging market conditions; expects elevated rate environment to persist.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Claros Mortgage Trust, Inc. reported the quarter ended September 30, 2023 results: net income ($68.9 million), EPS ($0.50) per diluted share of common stock.

Period: the quarter ended September 30, 2023
Net income: ($68.9 million)
EPS: ($0.50) 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 September 30, 2023. The Company’s third quarter 2023 GAAP net loss was ($68.9 million), or ($0.50) per diluted share of common stock.

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Claros Mortgage Trust, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-056892

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