Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 5.1%

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s share price dropped 5.1% during trading on Wednesday . The stock traded as low as $7.48 and last traded at $7.50. Approximately 162,766 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 324,133 shares. The stock had previously closed at $7.90.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CMTG. Keefe, Bruyette & Woods decreased their target price on 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. JMP Securities restated a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. Wells Fargo & Company cut their target price on shares of Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. boosted their price target 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. Finally, BTIG Research assumed coverage on shares of Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.00.

Claros Mortgage Trust Stock Down 4.9 %

The stock has a fifty day simple moving average of $8.46 and a two-hundred day simple moving average of $8.72. The firm has a market cap of $1.04 billion, a PE ratio of -12.73 and a beta of 1.53. The company has a current ratio of 28.19, a quick ratio of 28.19 and a debt-to-equity ratio of 2.12.

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 analysts’ consensus estimates of $0.07 by $0.10. The company had revenue of $64.49 million during the quarter, compared to analyst estimates of $64.25 million. Claros Mortgage Trust had a negative net margin of 35.47% and a positive return on equity of 3.30%. As a group, sell-side analysts expect that Claros Mortgage Trust, Inc. will post 0.15 EPS for the current fiscal 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 issued a $0.10 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.33%. Claros Mortgage Trust’s payout ratio is currently -64.52%.

Institutional Investors Weigh In On Claros Mortgage Trust

Several large investors have recently added to or reduced their stakes in CMTG. ProShare Advisors LLC increased its stake in Claros Mortgage Trust by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $159,000 after acquiring an additional 1,284 shares during the last quarter. Van ECK Associates Corp lifted its position in Claros Mortgage Trust by 0.7% during the first quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock valued at $3,166,000 after purchasing an additional 2,190 shares during the last quarter. SG Americas Securities LLC grew its stake in Claros Mortgage Trust by 32.2% in the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock worth $106,000 after buying an additional 2,651 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Claros Mortgage Trust by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock valued at $369,000 after buying an additional 2,885 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Claros Mortgage Trust by 22.7% during the 4th quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock valued at $237,000 after buying an additional 3,209 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

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.