Claros Mortgage Trust, Inc. (NYSE:CMTG) Given Consensus Rating of “Reduce” by Brokerages

by · The Markets Daily

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG – Get Free Report) have received a consensus rating of “Reduce” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $8.75.

Several equities research analysts have recently commented on CMTG shares. Keefe, Bruyette & Woods reduced 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 report on Monday, August 12th. JMP Securities restated a “market perform” rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. BTIG Research started coverage on shares of Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating for the company. 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 report on Tuesday, July 16th. Finally, 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 for the company. in a research note on Friday, September 20th.

Read Our Latest Analysis on Claros Mortgage Trust

Institutional Trading of Claros Mortgage Trust

Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Claros Mortgage Trust in the 3rd quarter valued at $150,000. Waterfall Asset Management LLC purchased a new stake in Claros Mortgage Trust during the second quarter worth $4,448,000. Algert Global LLC purchased a new stake in Claros Mortgage Trust during the second quarter worth $224,000. The Manufacturers Life Insurance Company boosted its holdings in Claros Mortgage Trust by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock worth $369,000 after buying an additional 2,885 shares in the last quarter. Finally, Levin Capital Strategies L.P. boosted its holdings in 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 buying an additional 40,000 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Claros Mortgage Trust Trading Down 0.2 %

Shares of CMTG opened at $6.41 on Wednesday. Claros Mortgage Trust has a 1-year low of $6.19 and a 1-year high of $15.25. The company has a 50-day moving average of $7.92 and a 200 day moving average of $8.36. The firm has a market capitalization of $889.37 million, a price-to-earnings ratio of -10.34 and a beta of 1.49. The company has a debt-to-equity ratio of 2.12, a current ratio of 28.19 and a quick ratio of 28.19.

Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $64.49 million during the quarter, compared to analyst estimates of $64.25 million. On average, research analysts expect that Claros Mortgage Trust will post 0.15 EPS for the current year.

Claros Mortgage Trust Cuts Dividend

The business 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.24%. The ex-dividend date is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio is presently -64.52%.

About Claros Mortgage Trust

(Get Free Report

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.

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