Claros Mortgage Trust posts Q1 GAAP net loss of $52.8M; book value per share $15.55

Claros Mortgage Trust, Inc.

2024-Q1 EPS reported -$0.39 revenue$58,825,000

GAAP net loss of $52.8M ($0.39 diluted EPS); distributable loss of $16.8M ($0.12 per share).
CECL reserves increased to 2.6% of UPB; general reserve $0.72 per share, specific reserve $0.54 per share.
Loans risk rated 4 or higher rose to 29% of portfolio (from 26% at Dec 31); one $216M loan reclassified to held-for-sale.
Sold three loans for $262M (96% of UPB); repaid $384M in financings during quarter.
Paid $0.25 per share cash dividend; total liquidity $265M including $233M cash and $32M undrawn capacity.

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 the quarter ended March 31, 2024 results: net income ($52.8 million), or ($0.39) per diluted share.

Period: the quarter ended March 31, 2024
Net income: ($52.8 million), or ($0.39) per diluted share
Result: reported results

Exact text from the filing

Claros Mortgage Trust, Inc. Reports First Quarter 2024 Results New York, NY, May 6, 2024 – Claros Mortgage Trust, Inc. (NYSE: CMTG) (the “Company” or “CMTG”) today reported its financial results for the quarter ended March 31, 2024. The Company’s first quarter 2024 GAAP net loss was ($52.8 million), or ($0.39) per diluted share.

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Source: SEC EDGAR

accession 0000950170-24-053576

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