Analysts Set Claros Mortgage Trust, Inc. (NYSE:CMTG) Target Price at $9.00

Claros Mortgage Trust, Inc. (NYSE:CMTG) has earned a consensus recommendation of “Reduce” from the six analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $9.00.

A number of analysts have weighed in on CMTG shares. JPMorgan Chase & Co. increased their target price on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. JMP Securities reiterated a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. 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 note on Monday, August 12th. Finally, BTIG Research started coverage on Claros Mortgage Trust in a research report on Friday, July 19th. They set a “neutral” rating on the stock.

Claros Mortgage Trust Stock Up 2.0 %

NYSE:CMTG opened at $8.00 on Friday. 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 $1.11 billion, a price-to-earnings ratio of -12.89 and a beta of 1.49. Claros Mortgage Trust has a one year low of $6.80 and a one year high of $15.25. The stock has a 50-day simple moving average of $8.42 and a 200 day simple moving average of $8.64.

Claros Mortgage Trust (NYSE:CMTG) last issued its earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.07 by $0.10. Claros Mortgage Trust had a positive return on equity of 3.30% and a negative net margin of 35.47%. The company had revenue of $64.49 million during the quarter, compared to analyst estimates of $64.25 million. Sell-side analysts predict that Claros Mortgage Trust will post 0.15 EPS for the current fiscal year.

Claros Mortgage Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.00%. The ex-dividend date of this dividend is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio (DPR) is -161.29%.

Institutional Trading of Claros Mortgage Trust

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its stake 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 worth $237,000 after purchasing an additional 3,209 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Claros Mortgage Trust by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock valued at $11,874,000 after buying an additional 13,165 shares in the last quarter. Goldman Sachs Group Inc. increased its stake 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 valued at $199,122,000 after buying an additional 14,484,684 shares during the period. Vanguard Group Inc. raised its position in shares of 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 buying an additional 55,256 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Claros Mortgage Trust by 0.7% in the 1st quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock worth $3,166,000 after acquiring an additional 2,190 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.