CMTG on NYSE
Claros Mortgage Trust, Inc.
American real estate company based in Baltimore, incorporated in Maryland. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
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- TickerCMTG on NYSE2
- IndustryReal Estate2
- HeadquartersBaltimore, United States2
- Incorporated inMD3
- Business addressC/O Mack Real Estate Group, 60 Columbus Circle, 20Th Floor, New York, Ny 100233
- Filer categoryAccelerated filer3
- Legal formStock Corporation2
- LEI549300Z9LU2CZ3K30C162
- StatusActive2
- LEI statusLapsed (not renewed)2
- Registered address7 ST. PAUL STREET, 21202 Baltimore, United States2
- Registered withBusiness Services (Maryland Department of Assessments and Taxation), D164931732
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We are a CRE finance company focused primarily on originating senior and subordinate loans on transitional CRE assets located in major U.S. markets, including mortgage loans secured by a first priority or subordinate mortgage on transitional CRE assets, and subordinate loans including mezzanine loans secured by a pledge of equity ownership interests in the direct or indirect property owner rather than directly in the underlying commercial properties. These loans are subordinate to a mortgage loan but senior to the property owner’s equity ownership interests. Transitional CRE assets are properties that require repositioning, renovation, rehabilitation, leasing, development or redevelopment or other value-added elements in order to maximize value. We believe our Sponsor’s real estate development, ownership and operations experience, and infrastructure differentiates us in lending on these …4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Interest100¢$305.0M
Out of $187.8M in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Interest and related income | $389.5M | $601.4M | $697.9M |
| Less: interest and related expense | $305.0M | $440.3M | $470.5M |
| Net interest income | $84.5M | $161.1M | $227.4M |
| Revenue from real estate owned | $103.3M | $87.3M | $79.2M |
| Total net revenue | $187.8M | $248.4M | $306.6M |
| Management fees - affiliate | $32.1M | $36.2M | $38.2M |
| Incentive fees - affiliate | $1.6M | ||
| General and administrative expenses | $20.0M | $15.7M | $16.6M |
| Stock-based compensation expense | $14.1M | $18.1M | $16.6M |
| Operating expenses | $68.5M | $57.8M | $49.5M |
| Interest expense | $33.2M | $26.6M | $23.6M |
| Depreciation and amortization | $10.8M | $10.5M | $9.3M |
| Total expenses | $178.6M | $165.0M | $155.3M |
| Proceeds from interest rate cap | $0 | $1.3M | $6.1M |
| Unrealized loss on interest rate cap | -$71.0K | -$1.4M | -$5.2M |
| Loss on partial sales of real estate owned, net | -$1.0M | ||
| Gain on foreclosure of real estate owned | $0 | $4.2M | |
| (Loss) income from equity method investment | -$124.0K | -$154.0K | $594.0K |
| (Loss) gain on extinguishment of debt | -$1.4M | -$4.1M | $2.2M |
| Valuation adjustment for real estate owned held-for-sale | $12.6M | -$80.5M | |
| Provision for current expected credit loss reserve | -$466.5M | -$212.6M | -$153.7M |
| Valuation adjustment for loans receivable held-for-sale | -$41.8M | -$7.2M | |
| Gain on sale of loan | $0 | $575.0K | |
| Net (loss) income | -$489.1M | -$221.3M | $6.0M |
| Basic | -$3.49 | -$1.60 | $0.02 |
| Diluted | -$3.49 | -$1.60 | $0.02 |
| Basic | 140.1M shares | 139.2M shares | 138.6M shares |
| Diluted | 140.1M shares | 139.2M shares | 138.6M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $173.2M | $99.1M | $187.3M | |
| Restricted cash | $17.6M | $34.4M | $27.6M | |
| Loans receivable held-for-investment | $4.1B | $6.2B | ||
| Less: current expected credit loss reserve | -$438.8M | -$243.0M | ||
| Loans receivable held-for-investment, net | $3.6B | $5.9B | ||
| Loans receivable held-for-sale | $0 | $277.1M | ||
| Equity method investment | $42.2M | $42.3M | ||
| Real estate owned held-for-investment, net | $730.0M | $127.1M | ||
| Real estate owned held-for-sale | $307.0M | |||
| Other assets | $143.4M | $132.7M | ||
| Total assets | $4.7B | $7.0B | ||
| Repurchase agreements | $1.9B | $3.2B | ||
| Term participation facility | $329.5M | $477.6M | ||
| Notes payable, net | $177.5M | $236.8M | ||
| Secured term loan, net | $549.4M | $709.8M | ||
| Debt related to real estate owned hotel portfolio, net | $231.0M | $274.6M | ||
| Other liabilities | $37.1M | $42.7M | ||
| Management fee payable - affiliate | $7.8M | $27.0M | ||
| Total liabilities | $3.2B | $5.0B | ||
| 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 | $1.4M | $1.4M | ||
| Additional paid-in capital | $2.8B | $2.7B | ||
| Accumulated deficit | -$1.2B | -$733.3M | ||
| Total equity | $1.5B | $2.0B | $2.3B | $2.5B |
| Total liabilities and equity | $4.7B | $7.0B | ||
| Common stock par value | $0.01 | $0.01 | ||
| Common stock authorized | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued | 140.2M shares | 139.4M shares | ||
| Common stock outstanding | 140.2M shares | 139.4M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $173.2M | $99.1M | $187.3M | |
| Restricted cash | $17.6M | $34.4M | $27.6M | |
| Loans receivable held-for-investment | $4.1B | $6.2B | ||
| Less: current expected credit loss reserve | -$438.8M | -$243.0M | ||
| Loans receivable held-for-investment, net | $3.6B | $5.9B | ||
| Loans receivable held-for-sale | $0 | $277.1M | ||
| Equity method investment | $42.2M | $42.3M | ||
| Real estate owned held-for-investment, net | $730.0M | $127.1M | ||
| Real estate owned held-for-sale | $307.0M | |||
| Other assets | $143.4M | $132.7M | ||
| Total assets | $4.7B | $7.0B | ||
| Repurchase agreements | $1.9B | $3.2B | ||
| Term participation facility | $329.5M | $477.6M | ||
| Notes payable, net | $177.5M | $236.8M | ||
| Secured term loan, net | $549.4M | $709.8M | ||
| Debt related to real estate owned hotel portfolio, net | $231.0M | $274.6M | ||
| Other liabilities | $37.1M | $42.7M | ||
| Management fee payable - affiliate | $7.8M | $27.0M | ||
| Total liabilities | $3.2B | $5.0B | ||
| 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 | $1.4M | $1.4M | ||
| Additional paid-in capital | $2.8B | $2.7B | ||
| Accumulated deficit | -$1.2B | -$733.3M | ||
| Total equity | $1.5B | $2.0B | $2.3B | $2.5B |
| Total liabilities and equity | $4.7B | $7.0B | ||
| Common stock par value | $0.01 | $0.01 | ||
| Common stock authorized | 500.0M shares | 500.0M shares | ||
| Common stock, shares issued | 140.2M shares | 139.4M shares | ||
| Common stock outstanding | 140.2M shares | 139.4M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) income | -$489.1M | -$221.3M | $6.0M |
| Accretion of fees and discounts on loans receivable | -$10.6M | -$19.8M | -$22.8M |
| Amortization of deferred financing costs on secured financings | $23.6M | $20.2M | $22.4M |
| Amortization of deferred financing costs on debt related to real estate owned hotel portfolio | $2.3M | $3.7M | $524.0K |
| Non-cash stock-based compensation expense | $14.3M | $18.3M | $16.8M |
| Depreciation and amortization on real estate owned, in-place lease values, and deferred leasing costs | $10.8M | $10.5M | $9.3M |
| Amortization of above and below market lease values, net | $1.2M | $1.4M | $708.0K |
| Straight-line rent adjustment | -$560.0K | -$127.0K | -$87.0K |
| Unrealized loss on interest rate cap | $71.0K | $1.4M | $5.2M |
| Loss on partial sales of real estate owned, net | $1.0M | ||
| Loss (income) from equity method investment | $124.0K | $154.0K | -$594.0K |
| Loss on extinguishment of debt | $1.4M | $4.1M | -$2.2M |
| Valuation adjustment for real estate owned held-for-sale | -$12.6M | $80.5M | |
| Gain on sale of loan | $0 | -$575.0K | |
| Gain on foreclosure of real estate owned | $0 | -$4.2M | |
| Non-cash advances on loans receivable in lieu of interest | -$48.0M | -$41.3M | -$63.6M |
| Non-cash advances on secured financings in lieu of interest | $7.7M | $8.5M | $3.9M |
| Non-cash advances on debt related to real estate owned hotel portfolio | $1.1M | ||
| Repayment of non-cash advances on loans receivable in lieu of interest | $36.4M | $23.1M | $23.9M |
| Repayment of non-cash advances on interests in loans receivable in lieu of interest | -$1.1M | ||
| Provision for current expected credit loss reserve | $466.5M | $212.6M | $153.7M |
| Valuation adjustment for loans receivable held-for-sale | $41.8M | $7.2M | |
| Other assets | -$46.8M | -$42.0M | -$36.1M |
| Other liabilities | -$10.8M | -$279.0K | -$564.0K |
| Management fee payable - affiliate | -$19.2M | $17.7M | -$552.0K |
| Net cash (used in) provided by operating activities | -$30.5M | $84.5M | $111.1M |
| Loan originations, acquisitions and advances, net of fees | -$121.0M | -$504.7M | -$769.7M |
| Advances on loans receivable held-for-sale | -$12.1M | -$3.0M | |
| Repayments of loans receivable | $1.6B | $647.2M | $550.1M |
| Proceeds from sales of loans receivable | $332.1M | $636.8M | $186.7M |
| Extension and exit fees received from loans receivable | $4.3M | $5.0M | $2.5M |
| Reserves and deposits held for loans receivable | $0 | -$5.0K | -$1.0K |
| Proceeds from partial sales of real estate owned | $60.5M | ||
| Capital expenditures on real estate owned | -$2.4M | -$1.3M | -$2.1M |
| Capital expenditures on real estate owned held-for-sale | -$362.0K | ||
| Payment of deferred leasing costs | -$725.0K | ||
| Cash and restricted cash acquired from foreclosures on real estate owned | $4.1M | $256.0K | |
| Payment of transaction costs from foreclosures on real estate owned | -$1.6M | -$7.0M | |
| Net cash provided by (used in) investing activities | $1.9B | $779.9M | -$39.3M |
| Dividends paid | $0 | -$120.7M | -$192.2M |
| Payments for withholding taxes upon delivery of stock-based awards | -$1.5M | -$3.5M | -$3.9M |
| Proceeds from secured financings | $696.2M | $1.5B | $1.0B |
| Proceeds from debt related to real estate owned hotel portfolio | $235.0M | ||
| Payment of deferred financing costs | -$26.2M | -$16.5M | -$13.5M |
| Payment of exit fees on secured financings | -$1.0M | -$13.0K | |
| Purchase of interest rate cap | -$71.0K | -$521.0K | |
| Repayments of secured financings | -$2.2B | -$2.2B | -$996.4M |
| Repayments of secured term loan | -$161.6M | -$7.6M | -$26.9M |
| Repayments of debt related to real estate owned hotel portfolio | -$275.0M | -$15.0M | |
| Net cash (used in) provided by financing activities | -$1.8B | -$945.8M | -$205.1M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $57.3M | -$81.4M | -$133.3M |
| Cash paid for interest | $313.2M | $439.4M | $465.9M |
| Dividends accrued | $0 | $35.3M | |
| Loan principal payments held by servicer | $11.0M | ||
| Accrued deferred financing costs | $0 | $648.0K | |
| Accrued loan Sale transaction costs | $44.0K | ||
| Accrued loans receivable held-for-investment extension fees | $341.0K | ||
| Real estate acquired in assignment-in-lieu of foreclosure | $344.7M | $128.6M | |
| Lease intangibles, net acquired in assignment-in-lieu of foreclosure | $7.0M | $20.1M | |
| Working capital acquired in assignment-in-lieu of foreclosure | -$7.9M | -$6.6M | |
| Accrued real estate foreclosure costs | $55.0K | ||
| Settlement of loans receivable in foreclosures on real estate owned | $393.5M | $208.8M | |
| Settlement of accrued interest receivable in foreclosures on real estate owned | $1.6M |
No quarter-by-quarter statement was filed.
Leadership
Who has led Claros Mortgage Trust, Inc., and when. Pick a name to see everywhere that person has worked.
- PresidentMike McGillis Nov 9, 2021 to now12
- Chief financial officerJai Agarwal Apr 12, 2022 to Aug 8, 202313
- Chief financial officerMike McGillis Nov 9, 2021 to Apr 12, 202212
Board members and other officers (11)
- OfficerKevin Cullinan Nov 2, 2021 to Mar 27, 202414
- OfficerMike McGillis Nov 2, 2021 to Nov 2, 202115
- OfficerPriyanka Garg Nov 2, 2021 to now16
- Board memberDenise Olsen Mar 10, 2026 to now17
- Board memberD. Pike Aloian May 20, 2026 to now18
- Board memberMary Haggerty Nov 2, 2021 to now19
- Board memberMike McGillis Nov 2, 2021 to now15
- Board memberSteven Leonard Richman Nov 2, 2021 to now20
- Board memberVincent Tese Nov 2, 2021 to now21
- Board memberW. Edward Walter Nov 2, 2021 to now22
- Board memberDerrick D. Cephas Nov 4, 2021 to now23
Timeline
- Apr 28, 2015Founded Claros Mortgage Trust, Inc. is founded2
Filings
314 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 63 major events, 160 insider forms, 23 large holders, 47 other. The latest 20:
- Oct 5, 20264 EDGAR
- Sep 8, 20264 EDGAR
- Aug 10, 20264 EDGAR
- Jul 29, 20268-K EDGAR
- Jul 29, 202610-Q EDGAR
- Jul 17, 2026S-8 EDGAR
- Jul 6, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20264 EDGAR
- Jun 5, 20268-K EDGAR
- May 26, 20264 EDGAR
- May 26, 20264 EDGAR
- May 26, 20264 EDGAR
- May 26, 20264 EDGAR
- May 20, 20263 EDGAR
The 314 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
31 open-market trades by officers, directors and large owners since October 2021: 31 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 4, 2026 | Mack RichardCEO AND CHAIRMAN | Buy | 20,603 | $1.59 | $32.8K | Form 4 |
| Sep 3, 2026 | Mack RichardCEO AND CHAIRMAN | Buy | 200,000 | $1.59 | $318.0K | Form 4 |
| Aug 6, 2026 | McGillis MikePRESIDENT AND CFO | Buy | 25,000 | $1.71 | $42.8K | Form 4 |
| Mar 2, 2026 | McGillis MikePRESIDENT AND CFO | Buy | 20,000 | $2.34 | $46.8K | Form 4 |
| Feb 27, 2026 | Mack RichardCEO AND CHAIRMAN | Buy | 50,000 | $2.41 | $120.5K | Form 4 |
| Feb 24, 2026 | WALTER W EDWARDDirector | Buy | 25,000 | $2.28 | $57.0K | Form 4 |
| Mar 13, 2025 | Mack RichardCEO AND CHAIRMAN | Buy | 10,000 | $3.66 | $36.6K | Form 4 |
| Mar 12, 2025 | Mack RichardCEO AND CHAIRMAN | Buy | 25,000 | $3.38 | $84.5K | Form 4 |
| Mar 12, 2025 | Richman Steven LeonardDirector | Buy | 5,000 | $3.40 | $17.0K | Form 4 |
| Mar 12, 2025 | McGillis MikePRESIDENT AND CFO | Buy | 24,115 | $3.30 | $79.6K | Form 4 |
| Mar 10, 2025 | Mack RichardCEO AND CHAIRMAN | Buy | 115,000 | $3.19 | $366.9K | Form 4 |
| May 29, 2024 | Mack RichardCEO AND CHAIRMAN | Buy | 40,000 | $6.90 | $276.0K | Form 4 |
| May 28, 2024 | Siegel Jeffrey DSEE REMARKS | Buy | 5,000 | $7.23 | $36.1K | Form 4 |
| May 28, 2024 | WALTER W EDWARDDirector | Buy | 7,000 | $7.21 | $50.5K | Form 4 |
| May 28, 2024 | Mack RichardCEO AND CHAIRMAN | Buy | 116,000 | $7.18 | $832.9K | Form 4 |
| May 24, 2024 | McGillis MikePRESIDENT AND CFO | Buy | 15,000 | $7.34 | $110.1K | Form 4 |
| May 24, 2024 | Mack RichardCEO AND CHAIRMAN | Buy | 44,000 | $7.25 | $319.0K | Form 4 |
| May 23, 2024 | TESE VINCENTDirector | Buy | 5,000 | $7.26 | $36.3K | Form 4 |
| May 21, 2024 | TESE VINCENTDirector | Buy | 1,000 | $8.24 | $8.2K | Form 4 |
| Sep 21, 2022 | Richman Steven LeonardDirector | Buy | 1,000 | $14.73 | $14.7K | Form 4 |
All 31 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 9, 2023 to Jul 29, 202524
- Hyundai Investments Co., Ltd.SCHEDULE 13G/A, 5 filings Feb 14, 2022 to May 15, 202525
- GOLDMAN SACHS ASSET MANAGEMENT, L.P.SCHEDULE 13G/A, 3 filings Mar 7, 2024 to May 9, 202526
- Beaverhead Capital, LLCSC 13G/A, 2 filings Feb 9, 2022 to Aug 9, 202427
- Retirement System Of Texas TeacherSC 13G/A, 3 filings Dec 8, 2021 to Feb 6, 202428
- OFFIT CAPITAL ADVISORS LLCSC 13G, 1 filing May 27, 202229
- NB Alternatives Advisers LLCSC 13G, 1 filing Feb 15, 202230
- BAE Systems Pension Funds Investment Management LtdSC 13G, 1 filing Feb 11, 202231
- Pingan Real Estate Capital LtdSC 13G, 1 filing Jan 27, 202232
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Hyundai Investments Co., Ltd. | 20,373,331 | $47.9M | 51.9% | −94,272 |
| Koch, Inc. | 15,126,917 | $35.5M | 3.2% | No change |
| Neuberger Berman Group LLC | 8,757,139 | $20.6M | 0.0% | −3,253 |
| BlackRock, Inc. | 8,509,252 | $20.0M | 0.0% | +578,431 |
| Vanguard Capital Management LLC | 5,703,052 | $13.4M | 0.0% | +331,916 |
| Geode Capital Management, LLC | 2,830,457 | $6.7M | 0.0% | +91,968 |
| Wafra Inc. | 2,500,000 | $5.9M | 100.0% | No change |
| Charles Schwab Investment Management Inc | 2,238,789 | $5.3M | 0.0% | −843,282 |
| State Street Corp | 2,232,821 | $5.2M | 0.0% | +89,142 |
| LM Asset Management Inc. | 1,846,000 | $4.3M | 3.0% | +446,000 |
| Hotchkis & Wiley Capital Management LLC | 1,644,895 | $3.9M | 0.0% | −189,520 |
| Citigroup Inc | 1,404,469 | $3.3M | 0.0% | +325,182 |
| Gratia Capital, LLC | 1,301,212 | $3.1M | 3.5% | −398,872 |
| Van Eck Associates Corp | 1,110,156 | $2.6M | 0.0% | New |
| Northern Trust Corp | 858,888 | $2.0M | 0.0% | +67,292 |
| Vanguard Fiduciary Trust Co | 844,983 | $2.0M | 0.0% | −9,919 |
| Vanguard Portfolio Management LLC | 815,946 | $1.9M | 0.0% | +95,296 |
| D. E. Shaw & Co., Inc. | 582,629 | $1.4M | 0.0% | −254,783 |
| Citadel Advisors LLC | 575,249 | $1.4M | 0.0% | +344,648 |
| Macquarie Group Ltd | 452,533 | $1.1M | 0.0% | No change |
| Aqr Capital Management LLC | 389,708 | $915.8K | 0.0% | +102,577 |
| Nuveen, LLC | 360,224 | $846.5K | 0.0% | +119,360 |
| Brevan Howard Capital Management LP | 327,649 | $765.1K | 0.0% | No change |
| Bank of New York Mellon Corp | 307,006 | $721.5K | 0.0% | +13,619 |
| Jpmorgan Chase & Co | 273,516 | $631.8K | 0.0% | −31,569 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Dec 12, 2022 | Christopher L. Jacobs, House | Buy | $1,001 - $15,000 | −186.7% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 12SEC EDGARMike McGillis, President
- 13SEC EDGARJai Agarwal, Chief financial officer
- 14SEC EDGARKevin Cullinan, Officer
- 15SEC EDGARMike McGillis, Officer
- 16SEC EDGARPriyanka Garg, Officer
- 17SEC EDGARDenise Olsen, Board member
- 18SEC EDGARD. Pike Aloian, Board member
- 19SEC EDGARMary Haggerty, Board member
- 20SEC EDGARSteven Leonard Richman, Board member
- 21SEC EDGARVincent Tese, Board member
- 22SEC EDGARW. Edward Walter, Board member
- 23SEC EDGARDerrick D. Cephas, Board member
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- 28
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