Tremont Mortgage Trust (TRMT) Tops Q3 EPS by 6c

Tremont Mortgage Trust (NASDAQ: TRMT) reported Q3 EPS of $0.33, $0.06 better than the analyst estimate of $0.27.

"We continued to closely manage our existing investments and actively engage with loan sponsors during the third quarter. While the pandemic-induced economic challenges present an ongoing risk to many borrowers, all of our investments remain current. The relationship with our repurchase facility lender remains strong, and in October we extended this facility with Citibank by one year to November 2022. At the same time, the proactive measures we have taken this year to preserve capital have resulted in increased liquidity. Looking ahead to the fourth quarter, in December we expect to declare a one-time cash distribution to shareholders in order to pay out sufficient taxable income to maintain our REIT tax status. At this time, we cannot comment on the amount of any distribution, but our Board of Trustees will determine this distribution based upon our forecasted full year financial performance as compared to our distributions paid through 2020 year-end."

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

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