CMTG reports Q2 GAAP net loss $0.09/shr; cuts dividend to $0.10 from $0.25

Claros Mortgage Trust, Inc.

2024-Q2 EPS reported -$0.48 revenue$123,312,000

GAAP net loss $11.6M ($0.09/shr); distributable earnings $28.9M ($0.20/shr), prior to realized losses $30.4M ($0.21/shr).
Declares Q3 dividend of $0.10/shr, down 60% from $0.25/shr in Q2; payable Oct 15, record Sep 30.
Risk-rating 4+ loans rose to 35% of portfolio (Q1: 29%); $34M CECL provision booked for Q2.
Subsequent to quarter end, received full repayments on three loans totaling $244M (GA, NV, NY).
Book value per share $15.27; net debt/equity ratio 2.4x; total liquidity $191M.

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