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

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have been given a consensus recommendation of “Reduce” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $9.00.

A number of brokerages recently weighed in on CMTG. JMP Securities restated 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 note on Friday, July 19th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised their price objective 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, Keefe, Bruyette & Woods reduced their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating on the stock in a report on Monday, August 12th.

Institutional Trading of Claros Mortgage Trust

A number of institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in 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 buying an additional 3,209 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Claros Mortgage Trust by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock worth $11,874,000 after acquiring an additional 13,165 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Claros Mortgage Trust by 11,644.8% in the fourth 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 during the period. Vanguard Group Inc. increased its stake in Claros Mortgage Trust by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock valued at $155,730,000 after purchasing an additional 55,256 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of 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 period. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Up 1.8 %

Shares of NYSE CMTG opened at $7.79 on Friday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -12.56 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 has a 12 month low of $6.80 and a 12 month high of $15.25. The stock has a 50-day moving average price of $8.43 and a two-hundred day moving average price of $8.69.

Claros Mortgage Trust (NYSE:CMTG) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.17 earnings per share (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 company had revenue of $64.49 million for the quarter, compared to analyst estimates of $64.25 million. As a group, analysts forecast that Claros Mortgage Trust will post 0.15 earnings per share for the current fiscal year.

Claros Mortgage Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio is currently -64.52%.

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.