Rhumbline Advisers Reduces Holdings in Claros Mortgage Trust, Inc. (NYSE:CMTG)

Rhumbline Advisers cut its position in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,808 shares of the company’s stock after selling 8,262 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Claros Mortgage Trust worth $1,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ProShare Advisors LLC grew its holdings in Claros Mortgage Trust by 8.5% in 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 period. Van ECK Associates Corp lifted its position in shares of Claros Mortgage Trust by 0.7% during the first quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock worth $3,166,000 after purchasing an additional 2,190 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Claros Mortgage Trust by 32.2% during the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock worth $106,000 after purchasing an additional 2,651 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Claros Mortgage Trust by 22.7% during the fourth quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock worth $237,000 after purchasing an additional 3,209 shares in the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of Claros Mortgage Trust in the second quarter worth $33,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMTG. JMP Securities reiterated a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. BTIG Research initiated 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 cut their price target 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. Wells Fargo & Company downgraded shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target for the company. in a report on Friday. Finally, JPMorgan Chase & Co. raised their target price 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. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, Claros Mortgage Trust presently has a consensus rating of “Hold” and a consensus price target of $8.75.

Claros Mortgage Trust Price Performance

NYSE CMTG opened at $8.04 on Monday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -12.97 and a beta of 1.49. The company has a 50 day simple moving average of $8.40 and a 200-day simple moving average of $8.57. The company has a debt-to-equity ratio of 2.12, a current ratio of 28.19 and a quick ratio of 28.19. Claros Mortgage Trust, Inc. has a 52-week low of $6.80 and a 52-week high of $15.25.

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

Claros Mortgage Trust Cuts Dividend

The business also recently disclosed 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 4.98%. Claros Mortgage Trust’s payout ratio is -64.52%.

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.