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Jun 30, 2022
Claros Mortgage Trust Q2 2022 Earnings Report
Reported strong second quarter results driven by significant loan origination activity and strategic portfolio diversification.
Key Takeaways
Claros Mortgage Trust reported a strong second quarter with GAAP net income of $63.2 million, or $0.45 per diluted share. Distributable Earnings was $60.0 million, or $0.43 per diluted share, including realized losses, and $71.5 million, or $0.51 per diluted share excluding realized losses. The company originated approximately $1.0 billion of total loan commitments and received proceeds of $878 million from loan repayments and sales.
Originated approximately $1.0 billion of total loan commitments across eight investments, with $624 million funded at closing.
Funded approximately $172 million of follow-on fundings related to the existing loan portfolio.
Received proceeds of $878 million from loan repayments and sales.
Successfully resolved a non-accrual loan, generating a levered gross return of approximately 12.5% and a net gain on sale of approximately $30.1 million.
Forward Guidance
While the macroeconomic outlook is creating some uncertainty in the marketplace, rising interest rates and lending spreads are translating into higher returns. Given the company's strong balance sheet and ample liquidity, they believe they are well positioned to capitalize on the attractive lending opportunities they are seeing in their target markets.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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