Claros Mortgage Trust, Inc. (NYSE:CMTG ) Q4 2024 Earnings Conference Call February 20, 2025 10:00 AM ET Company Participants Anh Huynh - Vice President of Investor Relations Richard Mack - Chief Executive Officer and Chairman Michael McGillis - President, Chief Financial Officer and Director Priyanka Garg - Executive Vice President, Portfolio and Asset Management Conference Call Participants Richard Shane - JPMorgan Doug Harter - UBS Jade Rahmani - KBW Chris Muller - Citizens JMP Thomas Catherwood - BTIG Operator Welcome to Claros Mortgage Trust Fourth Quarter 2024 Earnings Conference Call. My name is Mary and I will be your conference facilitator today.
Claros Mortgage Trust, Inc. (CMTG) came out with quarterly earnings of $0.18 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.31 per share a year ago.
Claros Mortgage Trust trades at an 80% discount to book value, despite a more measured decline in book value per share. The company's high debt level amplifies the impact of asset write-downs on equity value, contributing to the stock's decline. Management's expertise and low exposure to troubled office space, along with a focus on multifamily projects, offer some stability.
NEW YORK--(BUSINESS WIRE)--Claros Mortgage Trust, Inc. (NYSE: CMTG) (the “Company” or “CMTG”) today announced that it will release its fourth quarter and full-year fiscal 2024 financial results after the closing of trading on the New York Stock Exchange on Wednesday, February 19, 2025. A conference call to discuss CMTG's financial results will be held on Thursday, February 20, 2025, at 10:00 a.m. ET. The conference call may be accessed by dialing 1-833-470-1428 and referencing the Claros Mortga.
NEW YORK--(BUSINESS WIRE)--Claros Mortgage Trust, Inc. (NYSE: CMTG) (the “Company” or “CMTG”) today announced the tax treatment of its 2024 common stock dividends. The following table summarizes CMTG's common stock dividend payments per share for the tax year ended December 31, 2024: Record Date Payment Date Cash Distribution Adjustment Dividend Ordinary Dividends(1) Qualified Dividends Capital Gain Dividends Non Dividend Distributions 12/29/2023 1/12/2024 $0.00 $0.25 $0.25(2) $0.1264 $0.0000 $.
Claros Mortgage Trust, Inc. (CMTG) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
ICL, PX and CMTG made it to the Zacks Rank #1 (Strong Buy) income stocks list on January 24, 2025.
PLBC, CMTG and NGD made it to the Zacks Rank #1 (Strong Buy) value stocks list on January 20, 2025.
Claros Mortgage Trust, Inc. (CMTG) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Claros Mortgage Trust suspended its dividend to preserve liquidity, reflecting the continued challenges in the CRE transitional lending industry. Suspending the dividend was a difficult and necessary step, but should allow the company more flexibility to optimize its balance going forward. CMTG stock is trading near all-time lows and with a price-to-book ratio of only 0.29, substantially less than peers BXMT and KREF.