Claros Mortgage posts Q4 GAAP net income of $34M; loan risk ratings worsen

Claros Mortgage Trust, Inc.

2023-FY EPS reported $0.02 revenue$306,552,000

GAAP net income Q4 $34.0M ($0.24/diluted) vs Q3 loss of $68.9M; full year net income $6.0M.
Distributable earnings Q4 $36.9M ($0.26); prior to gains/charge-offs $44.4M ($0.31).
Loans with risk rating 4+ rose to 26% of portfolio from 17% at Q3; CECL reserve 2.2% of UPB.
Reclassified three loans to held-for-sale ($272M UPB); sold post-quarter for $262M (96% of UPB).
Paid Q4 dividend of $0.25/share, unchanged from Q3 but reduced from $0.37 earlier in 2023.

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 0.99

Claros Mortgage Trust, Inc. reported the quarter and year ended December 31, 2023 results: net income GAAP net income of $34.0 million and $6.0 million, or $0.24 and $0.02 per diluted share of common stock, for the quarter, EPS $0.24 and $0.02 per diluted share.

Period: the quarter and year ended December 31, 2023
Net income: GAAP net income of $34.0 million and $6.0 million, or $0.24 and $0.02 per diluted share of common stock, for the quarter
EPS: $0.24 and $0.02 per diluted share
Result: reported results

Exact text from the filing

On February 20, 2024, Claros Mortgage Trust, Inc. (the “Company”) issued a press release announcing its financial results for the quarter and year ended December 31, 2023

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Claros Mortgage Trust, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-017124

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