Claros Mortgage Trust, Inc. (NYSE:CMTG) Q1 2024 Earnings Conference Call May 7, 2024 10:00 AM ET Company Participants Anh Huynh - VP, IR Richard Mack - CEO and Chairman Mike McGillis - President, CFO and Director Priyanka Garg - EVP, Portfolio and Asset Management Conference Call Participants Rick Shane - JPMorgan Doug Harter - UBS Don Fandetti - Wells Fargo Steve Delaney - JMP Securities Jade Rahmani - KBW Operator Welcome to Claros Mortgage Trust's First Quarter 2024 Earnings Conference Call. My name is E ...

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. Distributable Loss (a non-GAAP financial measure defined below) was ($16.8 million), or ($0.12) per diluted share. Distributable Earnings prior to realized losses was $27.7 million, or $0.20 per diluted share. Definitions For those unable to li ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40993 Claros Mortgage Trust, Inc. (Exact Name of Registrant as Specified in its Charter) Maryland 47-4074900 (State or other juri ...

NEW YORK--(BUSINESS WIRE)--Claros Mortgage Trust, Inc. (NYSE: CMTG) (“the Company” or “CMTG”) declared a dividend of $0.25 per share of common stock for the first quarter of 2024. The dividend is payable on April 15, 2024 to stockholders of record as of the close of business on March 29, 2024. About Claros Mortgage Trust, Inc. CMTG is a real estate investment trust that is focused primarily on originating senior and subordinate loans on transitional commercial real estate assets located in major markets a ...

A downtrend has been apparent in Claros Mortgage Trust, Inc. (CMTG) lately with too much selling pressure. The stock has declined 21.6% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.How to Determine if a Stock is OversoldWe use Relative Strength Index (RSI), one of the most commonly used technical ...

Financial Data and Key Metrics Changes - For Q4 2023, the company reported distributable earnings per share of $0.26, down from $0.35 in the previous quarter, while GAAP net income was $0.24 per share [30][31] - The total portfolio size decreased to $6.9 billion from $7.1 billion, primarily due to the reclassification of loans to held for sale and loan repayments [31][32] - The weighted average risk rating on the portfolio increased to 3.3 from 3.2 in the prior quarter [15] Business Line Data and Key Metrics Changes - The multifamily sector remains the largest exposure at 41% of the portfolio's carrying value, with anticipated near-term pressure due to higher benchmark rates affecting floating rate borrowers [13][14] - The company placed one loan on non-accrual during the quarter, which was collateralized by two under-construction multifamily properties [16] Market Data and Key Metrics Changes - The commercial real estate (CRE) market has been constrained for the last 18 months due to higher borrowing costs and muted transaction volumes, leading to increased cap rates [6][7] - The expectation of rate cuts in 2024 is anticipated to be a critical inflection point for investors, potentially leading to increased transaction volumes [27][28] Company Strategy and Development Direction - The company is adopting a conservative approach to liquidity management, prioritizing liquidity preservation over new loan originations until market conditions improve [44][36] - The focus is on managing liabilities and maintaining frequent communication with counterparties to navigate the current challenging environment [36][64] Management's Comments on Operating Environment and Future Outlook - Management expressed that the resilience of the US economy and persistent inflation complicate the outlook for rapid monetary easing, suggesting a slow recovery for the CRE market [25][26] - The company anticipates a more active but challenging 2024 for the commercial real estate industry, with expectations of price discovery and reduced bid-ask spreads [28][29] Other Important Information - The company reported total liquidity of $238 million at year-end, which includes cash and undrawn credit capacity [17] - The future funding commitment has decreased from $1.9 billion at year-end 2022 to $1.1 billion at year-end 2023 [44] Q&A Session Summary Question: Dividend Policy Considerations - Management acknowledged the balancing act of maintaining a sustainable dividend while considering the need to retain capital for potential opportunities in the current environment [45] Question: Liquidity Sources for Funding Commitments - The company outlined its liquidity sources, including near-term repayments, unencumbered assets, and existing financing commitments [50][51] Question: Active Loan Modifications - Management indicated that loan modifications are being approached on a deal-by-deal basis, emphasizing the importance of borrower commitment and operational expertise [53][66] Question: CECL Reserves and Risk Ratings - The company explained that the flat CECL reserves despite an increase in risk-rated loans is due to prior loss factors already being applied to those loans [60][76]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-40993 Claros Mortgage Trust, Inc. (Exact name of Registrant as specified in its Charter) | Maryland | 47-4074900 | | --- | --- | | (S ...

NEW YORK--(BUSINESS WIRE)--Claros Mortgage Trust, Inc. (NYSE: CMTG) (the “Company” or “CMTG”) today announced the tax treatment of its 2023 common stock dividends. The following table summarizes CMTG’s common stock dividend payments per share for the tax year ended December 31, 2023: Record Date Payment Date Cash Distribution Adjustment Dividend Ordinary Dividends(1) Qualified Dividends Capital Gain Dividends Non Dividend Distributions 12/30/2022 1/13/2023 $0.00 ...

Claros Mortgage Trust, Inc. (NYSE:CMTG) Q3 2023 Earnings Conference Call November 1, 2023 10:00 AM ET Company Participants Anh Huynh - Vice President, Investor Relations Richard Mack - Chief Executive Officer and Chairman Mike McGillis - President and Director, Claros Mortgage Trust Jai Agarwal - Chief Financial Officer Kevin Cullinan - Executive Vice President, MRECS Originations Priyanka Garg - Executive Vice President, MRECS Portfolio and Asset Management Conference Call Participants Sarah Barcomb - BTIG ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40993 Claros Mortgage Trust, Inc. (Exact Name of Registrant as Specified in its Charter) Maryland 47-4074900 (State or other ...