February 18, 2026 The properties above are not representative of all transactions. The information provided herein is as of December 31, 2025, unless otherwise noted. Fourth Quarter 2025 Earnings Supplement Claros Mortgage Trust, Inc. (CMTG) Fourth Quarter 2025 Highlights | |  | GAAP net loss of $219.2 million, or $1.56 per share; distributable loss of $101.7 million, or $0.71 per share; and distributable earnings prior | | --- | --- | --- | | | | to realized gains and losses of $2.9 million, or $0.02 per ...

NEW YORK--(BUSINESS WIRE)--Claros Mortgage Trust, Inc. (NYSE: CMTG) (the "Company†or "CMTG†) today reported its financial results for the quarter and year ended December 31, 2025. The Company reported GAAP net loss of $219.2 million and $489.1 million, or $1.56 per share and $3.49 per share, for the quarter and year ended December 31, 2025, respectively. Distributable Loss (a non-GAAP financial measure defined below) was $101.7 million and $269.0 million, or $0.71 per share and $1.88 per share. ...

Core Insights - The company reported a GAAP net income of $8 million, or $0.25 per share, primarily driven by earnings available for distribution (EAD) despite transaction-related expenses [1] - The fourth-quarter book value per share was stable, increasing slightly to $10.48 from $10.46, with EAD of $0.25 per share covering the declared dividend of $0.23 [2][6] - The company executed a successful capital rotation strategy, focusing on higher-returning residential credit strategies, which contributed to stable book value and dividend growth [3] Financial Performance - The net interest income increased by 4% sequentially in the fourth quarter, attributed to capital rotation into higher-earning assets and benefits from debt refinancing [1] - The investment portfolio grew by 27% to $8.5 billion, driven by over $3 billion in loan purchases and $4.2 billion in securitizations [5][7] - EAD for the full year totaled $0.86 per share, covering annual dividends of $0.85, with a cumulative dividend increase of over 21% in 2025 [6] Arc Home Performance - Arc Home returned to profitability in the second half of 2025, contributing positively to EAD and showing strong momentum into early 2026 [4][10] - The company achieved a 10% annualized return on equity (ROE) in the second half of 2025, with significant growth in non-QM mortgage fundings [11] - January 2026 was noted as Arc Home's strongest month since returning to profitability, generating earnings exceeding $1 million [12] Capital Rotation and Legacy Assets - The company plans to rotate approximately $35 million of equity into higher-return strategies by exercising call rights on in-the-money securitizations [14] - Management is working on optimizing legacy WMC financings, which has unlocked $55 million of equity for reinvestment [13] - The company holds about $28 million of equity in legacy WMC commercial real estate loans, which are currently on non-accrual status [15] Market Conditions and Liquidity - The company ended the quarter with total liquidity of approximately $109 million, including $58 million in cash and $50 million in committed financing [17] - Management noted that tighter spreads in the market could benefit call economics, although faster prepayment speeds may pressure certain assets [16]

AG Mortgage Investment Trust, Inc. Q4 2025 Earnings Call Summary - Moby Strategic Execution and Portfolio Optimization Achieved industry-leading total shareholder returns of 42% in 2025 by executing a disciplined programmatic securitization strategy and optimizing legacy liabilities. Successfully transitioned the portfolio by rotating capital out of legacy WMC residential and commercial exposures into higher-yielding home equity and agency-eligible strategies. Optimized the balance sheet by refinanc ...

Financial Data and Key Metrics Changes - For Q4 2025, the company reported a GAAP net loss attributable to common stockholders of $27.4 million, or -$0.58 per basic common share, which includes a provision for credit losses of $14.4 million and an impairment loss in the Miami Beach REO asset of $6.8 million [15] - The book value at December 31st was $7.29 per common share, a decline of $0.65 per share from Q3, largely due to the provision for credit losses and impairment loss on REO [15] - The aggregate CECL reserve at December 31st was about $148 million, an increase from $134 million in the previous quarter, primarily due to an increase in specific reserves on collateral-dependent loans [16] Business Line Data and Key Metrics Changes - The total loan portfolio commitments at year-end were $1.8 billion, with an outstanding principal balance of $1.7 billion and about $77 million of future fundings, accounting for only about 4% of total commitments [9] - The realized loan portfolio yield for Q4 was 6.7%, which would have been 8% excluding nonaccrual loans [9] - The company had an active year of loan repayments and resolutions totaling about $469 million during 2025, with $45 million of loan repayments in Q4 [10] Market Data and Key Metrics Changes - The commercial real estate industry experienced strong momentum in 2025, with increased capital availability and improved fundamentals across many markets and property types [5] - Larger commercial banks became more active in warehouse financing, and regional banks began returning to the market, contributing to greater liquidity [6] - The market momentum from 2025 has continued into early 2026, setting the stage for potentially stronger transaction activity across property types [7] Company Strategy and Development Direction - The company aims to reduce higher-cost debt and focus on asset resolutions, with plans to begin regrowing the portfolio in the latter half of 2026 [8] - The strategy includes reallocating capital in the portfolio and recycling into new originations as a high priority [8] - The company plans to remain focused on loan and REO resolutions in the first half of 2026, with expectations for the portfolio balance to trend lower until new originations begin [14] Management's Comments on Operating Environment and Future Outlook - Management noted that while there is a risk of future losses, they believe they are appropriately reserved for current loans, with expectations for upgrades and downgrades in the portfolio [25] - The overall sentiment in the multifamily sector is cautiously optimistic, with expectations for recovery in the second half of the year [32] - Management expressed confidence in the progress made in loan resolutions and the constructive environment for capital, which should aid in further repayments and resolutions [27] Other Important Information - The company ended the quarter with about $66 million of unrestricted cash, and total leverage increased slightly from 1.9 times to 2.0 times [17] - The company has received two full loan repayments of $174 million combined post-quarter end [10] Q&A Session Summary Question: How is the company thinking about the economics of new origination versus returning capital to shareholders? - The company plans to continue resolving loans and decreasing leverage until they start originating again later in the year [19] Question: What is the current reserve position and likelihood for further reserve build? - The company updates the general reserve based on the latest economic forecasts, with the biggest driver being a decrease in the CRE price index [21][22] Question: Where may book value per share trough in this cycle? - Management acknowledged the risk of future losses and indicated that the majority of the portfolio is performing well, with ongoing resolutions [25][26] Question: What are the expectations for the multifamily property type? - Management noted that while there was a downgrade in a specific multifamily loan, the overall trend in the multifamily sector is expected to be positive [31][32] Question: What are the scheduled maturities looking like in the first half of the year? - The company expects the portfolio to decrease through mid-2026 before beginning to regrow, with visibility on certain loans coming up for maturity [37]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported a GAAP net loss attributable to common stockholders of $27.4 million, or -$0.58 per basic common share, which includes a provision for credit losses of $14.4 million and an impairment loss in the Miami Beach REO asset of $6.8 million [16] - The book value at December 31 was $7.29 per common share, a decline of $0.65 per share from Q3, primarily due to the provision for credit losses and impairment loss on REO [16] - The aggregate CECL reserve at December 31 was approximately $148 million, an increase from $134 million in the previous quarter, mainly due to an increase in specific reserves on collateral-dependent loans [17] Business Line Data and Key Metrics Changes - The total loan portfolio commitments at year-end were $1.8 billion, with an outstanding principal balance of $1.7 billion and about $77 million of future fundings, accounting for only 4% of total commitments [10] - The realized loan portfolio yield for Q4 was 6.7%, which would have been 8% excluding nonaccrual loans [10] - The company had an active year of loan repayments and resolutions totaling about $469 million during 2025, with $45 million of loan repayments in Q4 [11] Market Data and Key Metrics Changes - The commercial real estate industry experienced strong momentum in 2025, with increased capital availability and improved fundamentals across many markets and property types [5] - Larger commercial banks became more active in warehouse financing, and regional banks began returning to the market, contributing to greater liquidity [6] - The market momentum from 2025 continued into early 2026, setting the stage for potentially stronger transaction activity across property types [7] Company Strategy and Development Direction - The company aims to reduce higher-cost debt and focus on asset resolutions in the first half of 2026, with plans to begin regrowing the portfolio in the latter half of the year [9] - The strategy includes reallocating capital in the portfolio and recycling into new originations as a high priority [9] - The company is focused on loan and REO resolutions, expecting the portfolio balance to trend lower in the near term until new originations begin [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the market conditions, indicating that 2026 could be a stronger year for the industry with forecasted growth in transaction activity and increased liquidity from traditional lenders [7] - The management acknowledged the risks associated with credit migration and potential future losses, emphasizing that the current reserves are appropriate [25][26] - The company is monitoring the situation closely regarding specific loans and expects to have more updates in the coming quarters [12] Other Important Information - The company has received two full loan repayments of $174 million combined post-quarter end [9] - The company continues to invest in its REO assets to maximize outcomes and is actively engaged in value-enhancing repositioning opportunities [13] Q&A Session Summary Question: How does the company view the economics of new origination versus returning capital to shareholders? - The company plans to focus on resolving loans and decreasing leverage until it resumes origination later in the year [20] Question: What is the current reserve position and likelihood for further reserve build? - The company updates its CECL process quarterly, with the current reserve reflecting the latest economic forecasts, and believes it is appropriately reserved for collateral-dependent loans [21][22] Question: What are the expectations for book value per share and future losses? - Management acknowledged the risk of upgrades and downgrades in credit migration and indicated that future losses may occur, but they are embedded in the current reserves [25] Question: What is the visibility on scheduled maturities and portfolio size? - The company expects the portfolio to decrease through mid-2026 before stabilizing and regrowing later in the year, with ongoing communication with borrowers regarding upcoming maturities [36][40]

NEW YORK--(BUSINESS WIRE)--Granite Point Mortgage Trust Inc. Reports Q4 and Full Year 2025 Financial Results and Post Quarter-End Update. ...

Core Viewpoint - Claros Mortgage Trust, Inc. (CMTG) is set to release its fourth quarter and full-year fiscal 2025 financial results on February 18, 2026, after the market closes [1] Financial Results Announcement - The financial results will be disclosed after the closing of trading on the New York Stock Exchange on February 18, 2026 [1] - A conference call to discuss these results is scheduled for February 19, 2026, at 10:00 a.m. ET [1] - Participants can access the conference call by dialing 1-833-470-1428 and referencing Claros Mortgage Trust [1]

Core Viewpoint - Claros Mortgage Trust, Inc. has successfully closed a $500 million secured term loan credit facility, indicating strong financial backing and strategic funding for future operations [1] Group 1: Loan Details - The term loan credit facility is secured and has a duration of four years [1] - It features an annual variable interest rate of SOFR plus 675 basis points [1] - The loan may be prepaid at any time, subject to certain conditions [1] Group 2: Use of Proceeds - Net proceeds from the loan closing, along with cash on hand, were utilized for unspecified purposes [1]

Core Insights - The article discusses the author's long-term investment approach, focusing on REITs, preferred stocks, and high-yield bonds, which began in high school in 2011 [1] - The author has recently combined long stock positions with covered calls and cash secured puts, indicating a strategic evolution in investment tactics [1] - The primary focus of the author's analysis on Seeking Alpha includes REITs and financials, with occasional insights on ETFs and macro-driven stock ideas [1] Investment Strategy - The investment strategy is fundamentally long-term, emphasizing a deep understanding of market dynamics and economic factors [1] - The author employs a combination of long positions and options strategies to enhance returns and manage risk [1] Coverage Focus - The author primarily covers REITs and financial sectors, suggesting a specialization that may provide deeper insights into these areas [1] - Occasional articles on ETFs and other stocks driven by macroeconomic trends indicate a broader market awareness and adaptability [1]