Claros Mortgage Trust (NYSE:CMTG) Shares Down 4.5%

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price traded down 4.5% during trading on Wednesday . The stock traded as low as $7.44 and last traded at $7.46. 48,897 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 328,402 shares. The stock had previously closed at $7.81.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BTIG Research began coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. raised their price objective on Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods dropped their price objective 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Claros Mortgage Trust Stock Performance

The company has a quick ratio of 28.19, a current ratio of 28.19 and a debt-to-equity ratio of 2.12. The stock has a fifty day moving average of $8.43 and a 200-day moving average of $8.66. The stock has a market cap of $1.06 billion, a PE ratio of -12.61 and a beta of 1.50.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings results 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 firm had revenue of $64.49 million for the quarter, compared to analyst estimates of $64.25 million. On average, equities analysts forecast that Claros Mortgage Trust, Inc. will post 0.15 EPS for the current year.

Claros Mortgage Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.24%. The ex-dividend date is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio is currently -161.29%.

Institutional Investors Weigh In On Claros Mortgage Trust

Hedge funds have recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new stake in Claros Mortgage Trust in the second quarter valued at about $33,000. Covestor Ltd lifted its position in 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 during the period. SG Americas Securities LLC lifted its position in shares of Claros Mortgage Trust by 32.2% during the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock valued at $106,000 after acquiring an additional 2,651 shares during the period. Simplicity Wealth LLC acquired a new stake in shares of Claros Mortgage Trust during the 2nd quarter valued at approximately $121,000. Finally, MQS Management LLC acquired a new stake in shares of Claros Mortgage Trust during the 1st quarter valued at approximately $128,000. 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.