Claros Mortgage Trust (NYSE:CMTG) Shares Gap Down to $7.49

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) gapped down before the market opened on Wednesday . The stock had previously closed at $7.49, but opened at $7.19. Claros Mortgage Trust shares last traded at $7.20, with a volume of 8,820 shares.

Analyst Ratings Changes

Several analysts have recently commented on the company. Keefe, Bruyette & Woods lowered their price objective 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. JPMorgan Chase & Co. upped their target price on Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. BTIG Research initiated coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating for the company. Wells Fargo & Company lowered Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a report on Friday, September 20th. Finally, JMP Securities reissued a “market perform” rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Claros Mortgage Trust has an average rating of “Hold” and an average target price of $8.75.

Claros Mortgage Trust Stock Down 1.3 %

The stock has a fifty day moving average price of $8.20 and a 200 day moving average price of $8.47. The company has a debt-to-equity ratio of 2.12, a current ratio of 28.19 and a quick ratio of 28.19. The stock has a market capitalization of $986.49 million, a P/E ratio of -11.63 and a beta of 1.49.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $64.25 million. On average, research analysts forecast that Claros Mortgage Trust, Inc. will post 0.15 earnings per share for the current year.

Claros Mortgage Trust Cuts Dividend

The company also recently declared 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. The ex-dividend date is Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 5.63%. Claros Mortgage Trust’s payout ratio is -64.52%.

Institutional Investors Weigh In On Claros Mortgage Trust

Large investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new position in shares of Claros Mortgage Trust during the second quarter valued at about $33,000. SG Americas Securities LLC grew its stake in shares of Claros Mortgage Trust by 32.2% in the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock worth $106,000 after purchasing an additional 2,651 shares during the last quarter. Covestor Ltd grew its stake in shares of Claros Mortgage Trust by 349.4% in the first quarter. Covestor Ltd now owns 10,897 shares of the company’s stock worth $106,000 after purchasing an additional 8,472 shares during the last quarter. MQS Management LLC bought a new stake in Claros Mortgage Trust during the 1st quarter valued at approximately $128,000. Finally, Lazard Asset Management LLC bought a new stake in Claros Mortgage Trust during the 1st quarter valued at approximately $140,000. Hedge funds and other 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.