Claros Mortgage Trust(US:CMTG)2021-12-15 19:04Financial Performance - GAAP net income was $52.9 million, or $0.40 per share, and Net Distributable Earnings was $45.3 million, or $0.34 per share[14, 18] - A cash dividend of $0.37 per common share was declared and paid for the third quarter of 2021[14, 18] - The CECL reserve decreased by $9.3 million, or $(0.07) per share, due to improved macroeconomic outlook and collateral performance[14] - Book Value per Share increased slightly from $18.76 to $18.78[20] Investment Portfolio - The investment portfolio totaled $6.4 billion with an all-in yield of 6.4%[13, 17] - Residential investments (multifamily and for sale condo) represented 28.3% of the portfolio[17] - Senior loans represented 93.2% of the portfolio[17] - The weighted average LTV (loan-to-value) was 66.1%[17] Originations and Fundings - Originated seven investments with $905.2 million of total commitments, of which $745.0 million was funded at closing[15] - Fundings made on existing investments totaled $248.0 million[15] - $676.1 million in full or partial loan repayments were received[17] Liquidity and Capitalization - Ended the quarter with $381.5 million of available liquidity[17] - Available capacity across financing sources totaled $1.3 billion[17] - The net debt/equity ratio was 1.8x, and the total leverage ratio was 2.1x[13, 17, 18]