Algert Global LLC Buys New Stake in Claros Mortgage Trust, Inc. (NYSE:CMTG)

Algert Global LLC bought a new stake in Claros Mortgage Trust, Inc. (NYSE:CMTG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 27,905 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CMTG. Goldman Sachs Group Inc. grew its stake in Claros Mortgage Trust by 11,644.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock worth $199,122,000 after buying an additional 14,484,684 shares during the last quarter. Waterfall Asset Management LLC acquired a new position in shares of Claros Mortgage Trust during the second quarter worth approximately $4,448,000. Vanguard Group Inc. lifted its position in shares of Claros Mortgage Trust by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock worth $155,730,000 after purchasing an additional 55,256 shares in the last quarter. Levin Capital Strategies L.P. lifted its position in shares of Claros Mortgage Trust by 400.0% during the second quarter. Levin Capital Strategies L.P. now owns 50,000 shares of the company’s stock worth $401,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Claros Mortgage Trust by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after purchasing an additional 36,911 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Down 0.2 %

Shares of NYSE:CMTG opened at $6.22 on Friday. Claros Mortgage Trust, Inc. has a 52 week low of $6.13 and a 52 week high of $15.25. 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 company has a market capitalization of $862.31 million, a PE ratio of -10.02 and a beta of 1.49. The company has a 50 day moving average price of $7.79 and a two-hundred day moving average price of $8.33.

Claros Mortgage Trust (NYSE:CMTG) last issued 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. 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 during the quarter, compared to the consensus estimate of $64.25 million. Analysts forecast that Claros Mortgage Trust, Inc. will post 0.15 earnings per share for the current 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 given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 6.44%. The ex-dividend date of this dividend is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio is -64.52%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CMTG. Keefe, Bruyette & Woods reduced their target price on shares of 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. BTIG Research initiated coverage on shares of Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating 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 report on Friday, September 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.75.

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.