Claros Mortgage Trust Shares Hit Record Low

Shares of Claros Mortgage Trust fell to a record low on Tuesday, dropping by as much as 11% after the company announced a suspension of its quarterly dividend.

The Real Estate Investment Trust (REIT) stated on Monday that the board of directors decided to halt the payment for the fourth quarter, which was originally scheduled for January 2025.

CMTG paid three regular quarterly dividends during the year totaling $0.60 per share of common stock.

Richard Mack, Chief Executive Officer and Chairman of CMTG, mentioned in a press release, “Looking ahead, the Board of Directors will determine whether to reinstate the quarterly dividend based on broader market conditions, the Company’s financial performance and estimated REIT taxable income.”

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