JPMorgan Chase & Co. Trims Claros Mortgage Trust (NYSE:CMTG) Target Price to $6.50

Claros Mortgage Trust (NYSE:CMTG) had its price objective cut by JPMorgan Chase & Co. from $9.00 to $6.50 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also issued reports on CMTG. Keefe, Bruyette & Woods lowered their price target on Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating on the stock in a report on Monday, August 12th. BTIG Research started coverage on shares of Claros Mortgage Trust in a research report on Friday, July 19th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company cut 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 report on Friday, September 20th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, Claros Mortgage Trust has an average rating of “Hold” and an average price target of $8.13.

Claros Mortgage Trust Trading Up 1.1 %

CMTG opened at $6.42 on Thursday. The company has a quick ratio of 28.19, a current ratio of 28.19 and a debt-to-equity ratio of 2.12. Claros Mortgage Trust has a 52 week low of $6.08 and a 52 week high of $15.25. The business’s 50 day moving average is $7.52 and its two-hundred day moving average is $8.18. The firm has a market cap of $890.76 million, a price-to-earnings ratio of -10.35 and a beta of 1.49.

Claros Mortgage Trust (NYSE:CMTG) last announced its earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.10. The business had revenue of $64.49 million for the quarter, compared to analysts’ expectations of $64.25 million. Claros Mortgage Trust had a negative net margin of 35.47% and a positive return on equity of 3.30%. On average, research analysts predict 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 was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.10 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 6.23%. Claros Mortgage Trust’s dividend payout ratio (DPR) is presently -64.52%.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gladius Capital Management LP acquired a new position in shares of Claros Mortgage Trust during the 2nd quarter worth $33,000. Blue Trust Inc. lifted its holdings in shares of Claros Mortgage Trust by 2,260.7% in the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after purchasing an additional 5,177 shares in the last quarter. Covestor Ltd lifted its holdings 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 valued at $106,000 after purchasing an additional 8,472 shares in the last quarter. SG Americas Securities LLC grew its position 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 valued at $106,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new position in shares of Claros Mortgage Trust during the 2nd quarter worth approximately $121,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.