Claros Mortgage Trust, Inc. (NYSE:CMTG) Receives Average Recommendation of “Reduce” from Analysts

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have earned a consensus rating of “Reduce” from the six brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $8.75.

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Wells Fargo & Company downgraded Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research note on Friday, September 20th. JMP Securities restated a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. BTIG Research began coverage on shares of Claros Mortgage Trust in a research report on Friday, July 19th. They set a “neutral” rating on the stock. Finally, Keefe, Bruyette & Woods cut their target price on shares of 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.

Claros Mortgage Trust Stock Performance

Shares of CMTG opened at $7.21 on Wednesday. Claros Mortgage Trust has a 12 month low of $6.80 and a 12 month high of $15.25. The business’s fifty day simple moving average is $8.24 and its two-hundred day simple moving average is $8.49. The company has a current ratio of 28.19, a quick ratio of 28.19 and a debt-to-equity ratio of 2.12. The company has a market cap of $1.00 billion, a price-to-earnings ratio of -11.63 and a beta of 1.49.

Claros Mortgage Trust (NYSE:CMTG) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. The firm had revenue of $64.49 million during 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%. Research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date of this dividend is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio is currently -64.52%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Waterfall Asset Management LLC purchased a new stake in shares of Claros Mortgage Trust during the second quarter valued at about $4,448,000. Algert Global LLC purchased a new stake in Claros Mortgage Trust during the second quarter valued at approximately $224,000. The Manufacturers Life Insurance Company boosted its stake in Claros Mortgage Trust by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock valued at $369,000 after acquiring an additional 2,885 shares in the last quarter. Levin Capital Strategies L.P. grew its holdings in Claros Mortgage Trust by 400.0% in the second quarter. Levin Capital Strategies L.P. now owns 50,000 shares of the company’s stock worth $401,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Claros Mortgage Trust by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after purchasing an additional 36,911 shares during the last quarter. 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.