Claros Mortgage Trust, Inc. (NYSE:CMTG) Announces $0.10 Quarterly Dividend

Claros Mortgage Trust, Inc. (NYSE:CMTG) declared a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.10 per share on Tuesday, October 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend is Monday, September 30th.

Claros Mortgage Trust has a dividend payout ratio of 142.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Claros Mortgage Trust to earn $0.42 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 238.1%.

Claros Mortgage Trust Stock Down 1.6 %

Shares of CMTG stock traded down $0.14 on Tuesday, hitting $8.58. The company’s stock had a trading volume of 331,394 shares, compared to its average volume of 327,947. The company has a debt-to-equity ratio of 2.07, a current ratio of 26.27 and a quick ratio of 26.27. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -13.50 and a beta of 1.53. Claros Mortgage Trust has a fifty-two week low of $6.80 and a fifty-two week high of $15.25. The firm’s fifty day moving average price is $8.44 and its 200-day moving average price is $9.23.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings results on Monday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. Claros Mortgage Trust had a positive return on equity of 1.51% and a negative net margin of 28.16%. The company had revenue of $58.83 million during the quarter, compared to the consensus estimate of $63.64 million. Research analysts anticipate that Claros Mortgage Trust will post 0.15 EPS for the current year.

Insider Transactions at Claros Mortgage Trust

In other Claros Mortgage Trust news, CEO Richard Mack acquired 116,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $7.18 per share, for a total transaction of $832,880.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,551,853 shares of the company’s stock, valued at approximately $18,322,304.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Claros Mortgage Trust news, CFO Mike Mcgillis acquired 15,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average price of $7.34 per share, for a total transaction of $110,100.00. Following the acquisition, the chief financial officer now directly owns 475,419 shares of the company’s stock, valued at approximately $3,489,575.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Mack acquired 116,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were bought at an average cost of $7.18 per share, with a total value of $832,880.00. Following the transaction, the chief executive officer now directly owns 2,551,853 shares of the company’s stock, valued at $18,322,304.54. The disclosure for this purchase can be found here. Insiders bought a total of 193,000 shares of company stock worth $1,393,140 over the last 90 days. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CMTG shares. Keefe, Bruyette & Woods decreased their target price on Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. raised their target price on Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. JMP Securities restated a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. BTIG Research started coverage on shares of Claros Mortgage Trust in a research report on Friday, July 19th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, Claros Mortgage Trust has an average rating of “Hold” and an average target price of $9.38.

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.