Claros Mortgage Trust, Inc. (NYSE:CMTG) Receives Average Rating of “Reduce” from Analysts

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have received a consensus rating of “Reduce” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $8.75.

A number of analysts have recently weighed in on the stock. Wells Fargo & Company lowered shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a research note on Friday, September 20th. Keefe, Bruyette & Woods cut their price target on Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating on the stock in a research report on Monday, August 12th. JMP Securities reissued a “market perform” rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. BTIG Research assumed coverage on Claros Mortgage Trust in a report on Friday, July 19th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th.

Claros Mortgage Trust Stock Down 3.7 %

Claros Mortgage Trust stock opened at $7.21 on Wednesday. Claros Mortgage Trust has a fifty-two week low of $6.80 and a fifty-two week high of $15.25. The company has a market cap of $1.00 billion, a PE ratio of -11.63 and a beta of 1.49. The company has a debt-to-equity ratio of 2.12, a quick ratio of 28.19 and a current ratio of 28.19. The business’s 50-day simple moving average is $8.24 and its two-hundred day simple moving average is $8.49.

Claros Mortgage Trust (NYSE:CMTG) last issued its earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.10. Claros Mortgage Trust had a positive return on equity of 3.30% and a negative net margin of 35.47%. The firm had revenue of $64.49 million for the quarter, compared to analyst estimates of $64.25 million. Equities analysts anticipate that Claros Mortgage Trust will post 0.15 EPS for the current 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 given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio (DPR) is presently -64.52%.

Institutional Trading of Claros Mortgage Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP purchased a new position in Claros Mortgage Trust in the 2nd quarter valued at about $33,000. SG Americas Securities LLC lifted its position in shares of Claros Mortgage Trust by 32.2% in the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock valued at $106,000 after acquiring an additional 2,651 shares in the last quarter. Covestor Ltd boosted its stake in shares of Claros Mortgage Trust by 349.4% in the first quarter. Covestor Ltd now owns 10,897 shares of the company’s stock worth $106,000 after acquiring an additional 8,472 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Claros Mortgage Trust during the first quarter worth approximately $128,000. Finally, Lazard Asset Management LLC acquired a new position in Claros Mortgage Trust in the 1st quarter valued at $140,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

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.