Claros Mortgage Trust, Inc. (NYSE:CMTG) Receives $8.75 Consensus PT from Brokerages

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have received an average rating of “Reduce” from the six research firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $8.75.

Several research analysts recently issued reports on CMTG shares. Keefe, Bruyette & Woods cut their target price 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. JPMorgan Chase & Co. lifted their target price 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. JMP Securities reaffirmed a “market perform” rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th. BTIG Research started coverage on Claros Mortgage Trust in a research report on Friday, July 19th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research report on Friday, September 20th.

Claros Mortgage Trust Trading Down 0.3 %

Shares of CMTG stock opened at $6.89 on Wednesday. The company has a market cap of $955.97 million, a P/E ratio of -11.11 and a beta of 1.49. Claros Mortgage Trust has a fifty-two week low of $6.80 and a fifty-two week high of $15.25. The stock has a 50 day simple moving average of $8.04 and a two-hundred day simple moving average of $8.41. The company has a debt-to-equity ratio of 2.12, a quick ratio of 28.19 and a current ratio of 28.19.

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

Claros Mortgage Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.81%. Claros Mortgage Trust’s payout ratio is -64.52%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Waterfall Asset Management LLC bought a new position in shares of Claros Mortgage Trust during the 2nd quarter worth $4,448,000. Goldman Sachs Group Inc. lifted its holdings in Claros Mortgage Trust by 11,644.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock worth $199,122,000 after purchasing an additional 14,484,684 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Claros Mortgage Trust by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $159,000 after purchasing an additional 1,284 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Claros Mortgage Trust by 32.2% during the 1st 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. Finally, Vanguard Group Inc. lifted its holdings in Claros Mortgage Trust by 0.5% during the 4th 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. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Company Profile

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.