Tremont Mortgage Trust (TRMT) Misses Q2 EPS by 8c

Tremont Mortgage Trust (NASDAQ: TRMT) reported Q2 EPS of ($0.02), $0.08 worse than the analyst estimate of $0.06.

David Blackman, President and Chief Executive Officer of TRMT, made the following statement:

“We continue to make important progress in executing our business strategy, and with four loans now closed, for a total commitment of $88.5 million, our investment income is fully covering our operating expenses. During the third quarter, we evaluated over 120 prospective loan opportunities with a gross value of over $3 billion, and we currently have four prospective loans in the due diligence and closing process for a total commitment of $79.3 million and six term sheets outstanding for a total commitment of $127.8 million that we believe we are well positioned to obtain. As a result, we are confident that TRMT is on the path to fully investing the capital raised in our initial public offering and concurrent private placement and declaring at least a partial distribution in January 2019.”

For earnings history and earnings-related data on Tremont Mortgage Trust (TRMT) click here.

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