Claros Mortgage Trust, Inc. (NYSE:CMTG) Receives $9.00 Consensus Target Price from Analysts

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have received an average rating of “Reduce” from the six research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $9.00.

CMTG has been the subject of several recent research reports. 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 research report on Tuesday, July 16th. BTIG Research began coverage on shares of Claros Mortgage Trust in a research report on Friday, July 19th. They set a “neutral” rating for the company. Keefe, Bruyette & Woods decreased 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 research report on Monday, August 12th. Finally, JMP Securities reissued a “market perform” rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th.

Hedge Funds Weigh In On Claros Mortgage Trust

Large investors have recently made changes to their positions in the business. ProShare Advisors LLC boosted 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 worth $159,000 after purchasing an additional 1,284 shares during the period. Van ECK Associates Corp boosted its position in shares of Claros Mortgage Trust by 0.7% in the first quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock valued at $3,166,000 after acquiring an additional 2,190 shares during the period. SG Americas Securities LLC boosted 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 during the period. The Manufacturers Life Insurance Company boosted its position 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 valued at $369,000 after acquiring an additional 2,885 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Claros Mortgage Trust by 22.7% in the fourth quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock valued at $237,000 after acquiring an additional 3,209 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

Claros Mortgage Trust Trading Down 1.4 %

Shares of CMTG stock opened at $7.70 on Friday. The firm has a market cap of $1.07 billion, a P/E ratio of -12.42 and a beta of 1.50. Claros Mortgage Trust has a 1-year low of $6.80 and a 1-year high of $15.25. The company has a debt-to-equity ratio of 2.12, a current ratio of 28.19 and a quick ratio of 28.19. The firm’s 50-day simple moving average is $8.43 and its 200-day simple moving average is $8.65.

Claros Mortgage Trust (NYSE:CMTG) last posted its quarterly 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 for the quarter, compared to analyst estimates of $64.25 million. As a group, equities analysts forecast that Claros Mortgage Trust will post 0.15 EPS 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. Shareholders of record on Monday, September 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a yield of 5.19%. Claros Mortgage Trust’s payout ratio is presently -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.