Claros Mortgage Trust (NYSE:CMTG) Shares Gap Down to $8.58

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $8.58, but opened at $8.24. Claros Mortgage Trust shares last traded at $8.08, with a volume of 254,370 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CMTG shares. BTIG Research started coverage on shares of Claros Mortgage Trust in a research note on Friday, July 19th. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating on the stock in a research note on Monday, August 12th. Wells Fargo & Company cut shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research note on Friday. JMP Securities reiterated a “market perform” rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, Claros Mortgage Trust currently has a consensus rating of “Hold” and an average target price of $8.75.

Claros Mortgage Trust Stock Down 5.6 %

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 firm’s 50-day moving average is $8.41 and its 200 day moving average is $8.60. The firm has a market capitalization of $1.12 billion, a PE ratio of -13.03 and a beta of 1.50.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings data on Monday, August 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.07 by $0.10. The business had revenue of $64.49 million for 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, research analysts forecast that Claros Mortgage Trust, Inc. will post 0.15 earnings per share 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 issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 4.94%. Claros Mortgage Trust’s dividend payout ratio (DPR) is -64.52%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMTG. Victory Capital Management Inc. lifted 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 worth $237,000 after acquiring an additional 3,209 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Claros Mortgage Trust by 1.5% during the 4th 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 during the period. Goldman Sachs Group Inc. lifted its holdings in shares of 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 acquiring an additional 14,484,684 shares during the period. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 55,256 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Claros Mortgage Trust by 0.7% during 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 hedge funds and other institutional investors.

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.