Claros Mortgage Trust, Inc. (NYSE:CMTG) Given Consensus Rating of “Reduce” by Analysts

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have been given an average recommendation of “Reduce” by the six research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $8.13.

CMTG has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, October 17th. 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 note on Monday, August 12th. Wells Fargo & Company lowered Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective for the company. in a research report on Friday, September 20th. Finally, BTIG Research started coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating on the stock.

Institutional Trading of Claros Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in shares of Claros Mortgage Trust by 2,260.7% during the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after purchasing an additional 5,177 shares in the last quarter. SG Americas Securities LLC purchased a new position in Claros Mortgage Trust in the 3rd quarter worth about $150,000. Waterfall Asset Management LLC bought a new position in Claros Mortgage Trust during the 2nd quarter valued at about $4,448,000. Algert Global LLC purchased a new stake in shares of Claros Mortgage Trust during the 2nd quarter valued at about $224,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Claros Mortgage Trust by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock worth $369,000 after acquiring an additional 2,885 shares during the period. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Price Performance

Shares of CMTG stock opened at $6.26 on Friday. The business’s fifty day moving average is $7.38 and its 200 day moving average is $8.08. The company has a quick ratio of 28.19, a current ratio of 28.19 and a debt-to-equity ratio of 2.12. The stock has a market cap of $868.56 million, a price-to-earnings ratio of -10.10 and a beta of 1.49. Claros Mortgage Trust has a twelve month low of $6.08 and a twelve month high of $15.25.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Monday, August 5th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. The firm had revenue of $64.49 million for 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%. Research analysts expect that Claros Mortgage Trust will post 0.15 EPS for the current fiscal year.

Claros Mortgage Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend was Monday, September 30th. 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.