Analysts Set Claros Mortgage Trust, Inc. (NYSE:CMTG) Price Target at $9.00

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have been assigned a consensus rating of “Reduce” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $9.00.

Several analysts have recently commented on the stock. BTIG Research assumed coverage on shares of Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods lowered their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating for the company in a report on Monday, August 12th. JMP Securities reiterated a “market perform” rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th.

Hedge Funds Weigh In On Claros Mortgage Trust

Several large investors have recently modified their holdings of CMTG. Goldman Sachs Group Inc. boosted its position in shares of Claros Mortgage Trust by 11,644.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock valued at $199,122,000 after acquiring an additional 14,484,684 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Claros Mortgage Trust by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock valued at $11,874,000 after purchasing an additional 13,165 shares during the last quarter. Victory Capital Management Inc. lifted its position in Claros Mortgage Trust by 22.7% during the fourth quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock valued at $237,000 after purchasing an additional 3,209 shares during the last quarter. ProShare Advisors LLC lifted its position in Claros Mortgage Trust by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $159,000 after purchasing an additional 1,284 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Claros Mortgage Trust by 32.2% during the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock valued at $106,000 after purchasing an additional 2,651 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Down 0.5 %

Claros Mortgage Trust stock opened at $7.75 on Friday. Claros Mortgage Trust has a 1-year low of $6.80 and a 1-year high of $15.25. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -12.50 and a beta of 1.50. The firm’s fifty day moving average price is $8.43 and its two-hundred day moving average price is $8.66. The company has a current ratio of 28.19, a quick ratio of 28.19 and a debt-to-equity ratio of 2.12.

Claros Mortgage Trust (NYSE:CMTG) last announced its earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.07 by $0.10. The company had revenue of $64.49 million during the quarter, compared to the consensus estimate of $64.25 million. Claros Mortgage Trust had a negative net margin of 35.47% and a positive return on equity of 3.30%. On average, equities research analysts predict that Claros Mortgage Trust will post 0.15 earnings per share for the current fiscal year.

Claros Mortgage Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.16%. Claros Mortgage Trust’s payout ratio is -161.29%.

About Claros Mortgage Trust

Claros Mortgage Trust, Inc operates as a real estate investment trust. It focuses on originating senior and subordinate loans on transitional commercial real estate assets in the United States. The company has elected to be taxed as a real estate investment trust. As a result, it would not be subject to corporate income tax on that portion of its net income that is distributed to shareholders.