Claros Mortgage Trust Q3 Loss Narrows to $14.3M; Non-Accruals Hit 40.5% of Loans
CMTG is trading near its 52-week low of $1.09 (1.8% above the low).
Summary
Claros Mortgage Trust posted a $14.3 million third-quarter loss as the credit provision fell to $0.4 million, but non-accrual loans now make up 40.5% of the portfolio and book value slid to $8.49 per share. October brought nonrefundable deposits on two discounted loan sales and two REO hotels, plus full repayment of two hospitality loans.
Key Events · Earnings and Guidance · CMTG
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Q3 Loss Narrows to $14.3 Million
Net loss was $14.3 million, or $0.10 per share, versus $255.4 million in Q2 2026, as the CECL provision fell to $0.4 million from $208.8 million.
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Credit Reserve at 18.5% of Loan Balance
Total CECL reserve reached $599.7 million, or 18.5% of unpaid principal balance, up from $469.9 million at December 31, 2025; non-accrual loans are 40.5% of the portfolio.
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Book Value Falls to $8.49 Per Share
Book value per share dropped to $8.49 from $10.69 at year-end 2025; adjusted book value was $9.00. No dividends were declared in the nine months.
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October Loan Sales Carry ~$10.4 Million Loss
Nonrefundable deposits were received on a $245.0 million multifamily loan (expected ~$5.0 million incremental loss) and a $65.7 million office loan (~$5.4 million loss), both expected to close in Q4 2026.
Analysis · CMTG · Real Estate & Construction
The headline loss shrank sharply from Q2's $255.4 million, but that is largely because the damage was already taken: the credit-loss provision collapsed to $0.4 million from $208.8 million. The real story is the balance sheet. The total CECL reserve now stands at $599.7 million, or 18.5% of unpaid principal balance, and non-accrual loans are 40.5% of the portfolio. Book value per share has fallen to $8.49 from $10.69 at year-end, against a $1.11 stock price, so the market is pricing in losses well beyond what is reserved. Management is resolving the problem the hard way — selling loans at discounts. In October 2026 buyers put down nonrefundable deposits on a $245.0 million multifamily loan and a $65.7 million office loan, with expected incremental losses of about $5.0 million and $5.4 million, plus two of seven REO hotels for $44.5 million. Two hospitality loans also repaid in full in October, freeing $137.2 million of associated financing. No dividend was declared, and the $150.0 million ATM sits unused.
How filings like this one have moved
In the 30 days to Nov 3, 2026, 40.9% of the 1143 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.37%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CMTG was trading at $1.11 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $156.6M. The 52-week trading range was $1.09 to $3.62. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.