C
Claros Mortgage Trust, Inc.
Period
FY 2025
Revenue
$187.83M
Net Income
$-489.07M
Total Assets
$4.72B
Equity
$1.53B
Shares Out
140.22M
Op. Cash Flow
$-30.46M
Business
Claros Mortgage Trust is a commercial real estate finance company that originates and manages senior and subordinate loans on transitional CRE assets in major U.S. markets. The company provides mortgage loans secured by first or subordinate mortgages, participations in mortgage loans, and mezzanine loans secured by equity pledges. It operates as a REIT, is externally managed by an affiliate of Mack Real Estate Credit Strategies, and holds a diversified portfolio of loans intended to be held to maturity while generating shareholder returns through dividends.
Summary from 10-K filed 2026-02-18
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Interest and related income | 390 | 601 | 698 | 471 | 415 | |
| Less: interest and related expense | 305 | 440 | 471 | 247 | 181 | |
| Net interest income | 85 | 161 | 227 | 224 | 235 | |
| Revenue from real estate owned | 103 | 87 | 79 | 63 | 28 | |
| Total net revenue | 188 | 248 | 307 | 287 | 263 | |
| Management fees - affiliate | 32 | 36 | 38 | 39 | 39 | |
| Incentive fees - affiliate | — | — | 2 | — | — | |
| General and administrative expenses | 20 | 16 | 17 | 19 | 13 | |
| Stock-based compensation expense | 14 | 18 | 17 | 7 | 9 | |
| Operating expenses | 68 | 58 | 50 | 42 | 25 | |
| Interest expense | 33 | 27 | 24 | 14 | 16 | |
| Depreciation and amortization | 11 | 10 | 9 | 8 | 7 | |
| Total expenses | 179 | 165 | 155 | 130 | 108 | |
| Proceeds from interest rate cap | 0 | 1 | 6 | 495,000 | — | |
| Unrealized loss on interest rate cap | −71,000 | −1 | −5 | — | — | |
| Loss on partial sales of real estate owned, net | −1 | — | — | — | — | |
| Gain on foreclosure of real estate owned | — | 0 | 4 | — | 1 | |
| (Loss) income from equity method investment | −124,000 | −154,000 | 594,000 | 2 | — | |
| (Loss) gain on extinguishment of debt | −1 | −4 | 2 | — | — | |
| Valuation adjustment for real estate owned held-for-sale | 13 | −80 | — | — | — | |
| Provision for current expected credit loss reserve | −467 | −213 | −154 | −84 | 9 | |
| Valuation adjustment for loans receivable held-for-sale | −42 | −7 | — | — | — | |
| Gain on sale of loan | 0 | — | 575,000 | 30 | −141,000 | |
| Net (loss) income | −489 | −221 | 6 | 112 | 170 | |
| Basic (per share) | −3.49 | −1.6 | 0.02 | 0.79 | 1.27 | |
| Diluted (per share) | −3.49 | −1.6 | 0.02 | 0.79 | 1.27 | |
| Basic (shares) | 140 | 139 | 139 | 139 | 135 | |
| Diluted (shares) | 140 | 139 | 139 | 139 | 135 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 173 | 99 | 187 | 306 | 310 | |
| Restricted cash | 18 | 34 | 28 | 42 | 24 | |
| Loans receivable held-for-investment | 4,054 | 6,190 | 7,020 | 7,489 | — | |
| Less: current expected credit loss reserve | −439 | −243 | −143 | −129 | — | |
| Loans receivable held-for-investment, net | 3,615 | 5,947 | 6,877 | 7,360 | — | |
| Loans receivable held-for-sale | 0 | 277 | 262 | — | — | |
| Equity method investment | 42 | 42 | 42 | 42 | — | |
| Real estate owned held-for-investment, net | 730 | 127 | 523 | 401 | 407 | |
| Real estate owned held-for-sale | — | 307 | — | — | — | |
| Other assets | 143 | 133 | 139 | 90 | 58 | |
| Total assets | 4,722 | 6,967 | 8,069 | 8,242 | 7,455 | |
| Repurchase agreements | 1,858 | 3,190 | 3,806 | 3,967 | 3,490 | |
| Term participation facility | 329 | 478 | 465 | 258 | — | |
| Notes payable, net | 178 | 237 | 283 | 150 | 48 | |
| Secured term loan, net | 549 | 710 | 713 | 737 | 740 | |
| Debt related to real estate owned hotel portfolio, net | 231 | 275 | — | — | — | |
| Other liabilities | 37 | 43 | 47 | 59 | 54 | |
| Management fee payable - affiliate | 8 | 27 | 9 | 10 | 10 | |
| Total liabilities | 3,190 | 4,959 | 5,769 | 5,785 | 4,851 | |
| Commitments and Contingencies - Note 14 | — | — | — | — | — | |
| Common stock, $0.01 par value, 500,000,000 shares authorized, 140,218,764 and 139,362,657 shares issued and 140,218,764 and 139,362,657 shares outstanding at December 31, 2025 and 2024, respectively | 1 | 1 | 1 | 1 | 1 | |
| Additional paid-in capital | 2,753 | 2,740 | 2,725 | 2,712 | 2,726 | |
| Accumulated deficit | −1,222 | −733 | −427 | −257 | −161 | |
| Total equity | 1,532 | 2,008 | 2,300 | 2,456 | 2,604 | |
| Total liabilities and equity | 4,722 | 6,967 | 8,069 | 8,242 | 7,455 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Accretion of fees and discounts on loans receivable | −11 | −20 | −23 | −25 | — | |
| Amortization of deferred financing costs on secured financings | 24 | 20 | 22 | — | — | |
| Amortization of deferred financing costs on debt related to real estate owned hotel portfolio | 2 | 4 | 524,000 | — | — | |
| Non-cash stock-based compensation expense | 14 | 18 | 17 | 8 | 9 | |
| Depreciation and amortization on real estate owned, in-place lease values, and deferred leasing costs | 11 | 10 | 9 | 8 | 7 | |
| Amortization of above and below market lease values, net | 1 | 1 | 708,000 | — | — | |
| Straight-line rent adjustment | −560,000 | −127,000 | −87,000 | — | — | |
| Valuation adjustment for real estate owned held-for-sale | −13 | 80 | — | — | — | |
| Non-cash advances on loans receivable in lieu of interest | −48 | −41 | −64 | −78 | −69 | |
| Non-cash advances on secured financings in lieu of interest | 8 | 8 | 4 | 529,000 | 18 | |
| Non-cash advances on debt related to real estate owned hotel portfolio | 1 | — | — | — | — | |
| Repayment of non-cash advances on loans receivable in lieu of interest | 36 | 23 | 24 | 22 | 127 | |
| Repayment of non-cash advances on interests in loans receivable in lieu of interest | −1 | — | — | 13 | 28 | |
| Valuation adjustment for loans receivable held-for-sale | 42 | 7 | — | — | — | |
| Other assets | −47 | −42 | −36 | −26 | −602,000 | |
| Other liabilities | −11 | −279,000 | −564,000 | 13 | 5 | |
| Management fee payable - affiliate | −19 | 18 | −552,000 | −51,000 | 134,000 | |
| Net cash (used in) provided by operating activities | −30 | 85 | 111 | 111 | 214 | |
| Loan originations, acquisitions and advances, net of fees | −121 | −505 | −770 | −2,598 | −2,925 | |
| Advances on loans receivable held-for-sale | −12 | −3 | — | — | — | |
| Repayments of loans receivable | 1,605 | 647 | 550 | 1,539 | 2,312 | |
| Proceeds from sales of loans receivable | 332 | 637 | 187 | 132 | 48 | |
| Extension and exit fees received from loans receivable | 4 | 5 | 2 | 7 | 9 | |
| Reserves and deposits held for loans receivable | 0 | −5,000 | −1,000 | −2 | 15 | |
| Proceeds from partial sales of real estate owned | 60 | — | — | — | — | |
| Capital expenditures on real estate owned | −2 | −1 | −2 | −2 | — | |
| Capital expenditures on real estate owned held-for-sale | −362,000 | — | — | — | — | |
| Payment of deferred leasing costs | −725,000 | — | — | — | — | |
| Cash and restricted cash acquired from foreclosures on real estate owned | 4 | — | 256,000 | — | — | |
| Payment of transaction costs from foreclosures on real estate owned | −2 | — | −7 | — | — | |
| Net cash provided by (used in) investing activities | 1,868 | 780 | −39 | −773 | −373 | |
| Dividends paid | 0 | −121 | −192 | −208 | −205 | |
| Payments for withholding taxes upon delivery of stock-based awards | −1 | −3 | −4 | — | — | |
| Proceeds from secured financings | 696 | 1,465 | 1,028 | 2,248 | 1,998 | |
| Proceeds from debt related to real estate owned hotel portfolio | 235 | — | — | — | — | |
| Payment of deferred financing costs | −26 | −17 | −14 | −24 | −23 | |
| Payment of exit fees on secured financings | −1 | — | −13,000 | — | −864,000 | |
| Purchase of interest rate cap | −71,000 | −521,000 | — | — | — | |
| Repayments of secured financings | −2,246 | −2,247 | −996 | −1,311 | −1,779 | |
| Repayments of secured term loan | −162 | −8 | −27 | −8 | −6 | |
| Repayments of debt related to real estate owned hotel portfolio | −275 | −15 | — | — | −10 | |
| Net cash (used in) provided by financing activities | −1,780 | −946 | −205 | 676 | 63 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 57 | −81 | −133 | 14 | −97 | |
| Cash paid for interest | 313 | 439 | 466 | 228 | 159 | |
| Dividends accrued | 0 | — | 35 | 52 | 52 | |
| Loan principal payments held by servicer | — | — | 11 | — | 155 | |
| Accrued deferred financing costs | 0 | 648,000 | — | 4 | 6 | |
| Accrued loan Sale transaction costs | — | 44,000 | — | — | — | |
| Accrued loans receivable held-for-investment extension fees | — | — | 341,000 | — | — | |
| Real estate acquired in assignment-in-lieu of foreclosure | 345 | — | 129 | — | 414 | |
| Lease intangibles, net acquired in assignment-in-lieu of foreclosure | 7 | — | 20 | — | — | |
| Working capital acquired in assignment-in-lieu of foreclosure | −8 | — | −7 | — | — | |
| Accrued real estate foreclosure costs | 55,000 | — | — | — | — | |
| Settlement of loans receivable in foreclosures on real estate owned | 393 | — | 209 | — | — | |
| Settlement of accrued interest receivable in foreclosures on real estate owned | 2 | — | — | — | — |
Filings
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Frequently asked questions
What is Claros Mortgage Trust, Inc.'s CIK number?
Claros Mortgage Trust, Inc.'s SEC CIK number is 0001666291 (1666291). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Claros Mortgage Trust, Inc.'s SEC filings?
All of Claros Mortgage Trust, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Claros Mortgage Trust, Inc. last report earnings?
Claros Mortgage Trust, Inc. (CMTG) most recently filed an earnings 8-K with the SEC on May 6, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-208962). This is Claros Mortgage Trust, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Claros Mortgage Trust, Inc.'s most recent earnings 8-K?
Claros Mortgage Trust, Inc.'s latest earnings 8-K (Item 2.02) was filed May 6, 2026 under accession 0001193125-26-208962. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Claros Mortgage Trust, Inc.'s latest earnings 8-K →
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