Claros Mortgage Trust, Inc. Reports Third Quarter 2024 Results
Claros Mortgage Trust, Inc. (CMTG)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Claros Mortgage Trust, Inc. (NYSE: CMTG) (the “Company” or “CMTG”) today reported its financial results for the quarter ended September 30, 2024. The Company’s third quarter 2024 GAAP net loss was $56.2 million, or $0.40 per share. Distributable Loss (a non-GAAP financial measure defined below) was $24.6 million, or $0.17 per share. Distributable Earnings prior to realized losses was $31.0 million, or $0.22 per share.Third Quarter 2024 Highlights$6.3 billion loan portfolio with a weighted average all-in yield of 8.4%.Received loan repayments of $374 million, including the full repayment of four loans with $354 million of unpaid principal balance.Funded $86 million on existing loan commitments.Reclassified three loans to held-for-sale, representing an unpaid principal balance of $356 million (prior to charge-offs) and unfunded commitments of $36 million.Total liquidity of $116 million, including $114 million of cash.Unencumbered loan and REO assets of $60
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News
- Claros Mortgage Trust, Inc. (NYSE: CMTG) had its price target raised by analysts at Keefe, Bruyette & Woods from $6.75 to $7.25. They now have an "underperform" rating on the stock.MarketBeat
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- Claros Mortgage Trust, Inc. Announces Dates for Third Quarter 2024 Earnings Release and Conference CallBusiness Wire
- Claros Mortgage Trust, Inc. (NYSE: CMTG) had its price target lowered by analysts at JPMorgan Chase & Co. from $9.00 to $6.50. They now have a "neutral" rating on the stock.MarketBeat
- Claros Mortgage Trust: A Commercial Lender Focusing On Transitional Assets [Seeking Alpha]Seeking Alpha
CMTG
Earnings
- 11/7/24 - Miss
CMTG
Sec Filings
- 11/7/24 - Form 8-K
- 11/7/24 - Form 10-Q
- 10/3/24 - Form 4
- CMTG's page on the SEC website