Tremont Mortgage Trust

Symbol: TRMT
CIK: 1708405
Exchange: NASDAQ
Founded: 2017 (3 years)
HQ: United States
Type of REIT: Mortgage REIT
Listing Status: Public
Market Capitalization: Micro-Cap
REIT Sector: Mortgage
Externally Managed REIT

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See TRMT on SEC.gov

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Overall Score: 5.9

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REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


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Hightlights of Trading Day January 24, 2020


Open Price: $5.8
Closing Price: $5.77
Price Change: -0.05 (-0.859%)
Lowest Price: $5.71
Highest Price: $6.02

52-Week Low: $3.87
52-Week High: $11.00
52-Week Change: -32.91%

5 Day Price Change: 6.15%
1 Month Price Change: 20.80%
3 Month Price Change: 17.51%
6 Month Price Change: 21.29%
YTD Price Change: 18.43%
1 Year Price Change: -29.77%
2 Year Price Change: -60.18%
5 Year Price Change: -65.07%

Dividend of Trading Day January 24, 2020


Dividend Yield: N/A
Annualized Dividend: N/A
Dividend Yield (TTM): 9.532%
Annualized Dividend (TTM): $0.55
Ex Dividend Date: 2020-01-24

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Key Stats of Trading Day January 24, 2020


Total Cash: $27,335,000
Current Debt: N/A
Revenue: $3,891,000
Gross Profit: $1,984,000
Total Revenue: $3,891,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): N/A
Revenue Per Share: $0
Revenue Per Employee: N/A
Employee: N/A
Debt to Equity Ratio (D/E): 1.73
Profit Margin: -0.41%
Enterprise Value (EV): $122,726,600
Enterprise Value to Revenue (EV/R): 31.54
Price to Sales (P/S): 12.05
Price to Book (P/B): 0.83
Peg Ratio: 0.01
P/E Ratio: 8.73
P/E High: 15.28
P/E Low: 5.38
Forward P/E Ratio: 7.58
Market Capitalization: $47,544,800
Beta: 0.36
Latest Volume: 185,764.00
Avg. Total Volume: 112,888
Avg. 10 Volume: 219,578.60
Avg. 30 Volume: 112,888.27
TTM EPS: 0.66
TTM Dividend Rate: 0.55
Shares Outstanding: 8,240,000
Float: 8,099,261.00
50-Day Moving Avg.: 5.15
200-Day Moving Avg.: 5.38

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Dividend History


Below are the most recent cash dividends paid by TRMT. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date

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Financial Statements Overview

Balance Sheet (Quarterly)

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Current Cash 9,354,000 11,467,000 14,328,000 27,335,000
Receivables 0 0 0 0
Inventory 0 0 0 0
Current Assets 0 0 0 0
Current Assets (Other) 0 0 0 0
Short Term Investments 0 0 0 0
Long-term Investments 0 0 0 0
Property, Plant & Equipment Net 0 0 0 0
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 207,718,000 259,268,000 181,197,000 136,234,000
Net Tangible Assets 86,679,000 86,376,000 59,931,000 59,668,000
Total Assets 217,783,000 271,604,000 196,208,000 163,913,000
Accounts Payable 0 0 0 0
Liabilities (Other) 792,000 1,085,000 1,197,000 1,069,000
Current Liabilities (Other) 0 0 0 0
Total Current Liabilities 0 0 0 0
Current Long-term Debt 0 0 0 0
Long-term Debt 130,312,000 184,143,000 135,080,000 103,176,000
Total Liabilities 131,104,000 185,228,000 136,277,000 104,245,000
Minority Interest 0 0 0 0
Common Stock 8,240,057 82,000 32,000 32,000
Retained Earnings -2,230,000 -2,484,000 -2,676,000 -2,904,000
Treasury Stock 0 0 0 0
Capital Surplus 88,827,000 88,778,000 62,575,000 62,540,000
Shareholder Equity 86,679,000 86,376,000 59,931,000 59,668,000

Income Statement (Quarterly)

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Total Revenue 4,959,000 3,913,000 3,000,000 1,778,000
Cost of Revenue 370,000 370,000 370,000 335,000
Gross Profit 4,589,000 3,543,000 2,630,000 1,443,000
Research and Development 0 0 0 0
Selling General and Admin 0 0 0 0
Operating Expense 911,000 988,000 873,000 768,000
Operating Income 4,048,000 2,925,000 2,127,000 1,010,000
Income Expense Net (Other) -1,992,000 -2,031,000 -1,549,000 -825,000
EBIT 4,048,000 2,925,000 2,127,000 1,010,000
Interest Income 1,992,000 2,031,000 1,549,000 825,000
Pretax Income 2,056,000 894,000 578,000 185,000
Income Tax 0 0 0 0
Minority Interest 0 0 0 0
Net Income 2,056,000 894,000 578,000 185,000
Net Income Basic 2,056,000 894,000 578,000 185,000

Cash Flow

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2019-09-30 2019-06-30 2019-03-31 2018-12-31
Net Income 2,056,000 894,000 578,000 185,000
Depreciation 0 0 0 0
Changes in Receivables 0 0 0 0
Changes in Inventories 0 0 0 0
Cash Change -2,113,000 -2,861,000 -13,007,000 -2,866,000
Cash Flow 1,684,000 554,000 251,000 525,000
Capital Expenditures 0 0 0 0
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows 52,144,000 -77,658,000 -44,773,000 -54,029,000
Dividends Paid -1,802,000 -702,000 -350,000 0
Net Borrowings -54,108,000 48,877,000 31,865,000 50,666,000
Cash Flow Financing -55,941,000 74,243,000 31,515,000 50,638,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

About Tremont Mortgage Trust


Tremont Mortgage Trust is a real estate finance company focusing primarily on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate (CRE). We believe capital markets for CRE financing is undergoing a fundamental change presenting an opportunity for alternative lenders like TRMT. TRMT’s goal is to be a leading provider of debt capital secured by middle-market capital CRE. Our manager, Tremont Realty Advisors LLC, is an SEC registered investment adviser owned by The RMR Group LLC, an alternative asset manager founded in 1986 to manage CRE companies and related businesses. The RMR Group Inc. (Nasdaq: RMR) is a holding company and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC's business primarily consists of providing management services to six publicly owned real estate investment trusts, or REITs, and three real estate related operating companies. As of March 31, 2018, The RMR Group LLC had approximately $30.0 billion of total assets under management, including more than 1,700 properties, and employed over 550 real estate professionals in more than 35 offices throughout the United States; the companies managed by The RMR Group LLC collectively had approximately 52,000 employees. In 2016, The RMR Group LLC acquired the historical Tremont business, which specialized in middle market CRE finance. In connection with the acquisition, 16 real estate professionals, including loan originators in six offices around the U.S., joined The RMR Group LLC. Tremont Mortgage Trust seeks to leverage the CRE debt expertise of the Tremont team with the national platform and real estate management experience of The RMR Group LLC.

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
0 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.6
Rating AFFO & Efficiency Section Avg. Rating
Rating Leverage Section Avg. Rating
5 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.1
5 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
10 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.8
10 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 7.3
Rating Properties Section Avg. Rating
5.9 Overall REITRating™ Score 6.5

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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