Keefe, Bruyette & Woods Cuts Claros Mortgage Trust (NYSE:CMTG) Price Target to $9.50

Claros Mortgage Trust (NYSE:CMTG) had its price target cut by Keefe, Bruyette & Woods from $9.75 to $9.50 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an underperform rating on the stock.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. dropped their price target on Claros Mortgage Trust from $11.00 to $9.50 and set a neutral rating on the stock in a research report on Wednesday. UBS Group dropped their price target on Claros Mortgage Trust from $11.50 to $10.00 and set a neutral rating on the stock in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $10.00.

Claros Mortgage Trust Stock Down 10.7 %

Shares of Claros Mortgage Trust stock opened at $8.50 on Wednesday. The stock’s fifty day moving average is $9.79 and its 200-day moving average is $11.27. The firm has a market capitalization of $1.18 billion, a PE ratio of 424.75 and a beta of 1.58. The company has a quick ratio of 25.03, a current ratio of 25.03 and a debt-to-equity ratio of 2.09. Claros Mortgage Trust has a 12-month low of $8.37 and a 12-month high of $15.25.

Claros Mortgage Trust (NYSE:CMTG) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.19. The firm had revenue of $75.98 million for the quarter, compared to analyst estimates of $72.79 million. Claros Mortgage Trust had a return on equity of 2.01% and a net margin of 1.97%. Equities analysts anticipate that Claros Mortgage Trust will post 0.61 earnings per share for the current year.

Claros Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.77%. The ex-dividend date of this dividend is Wednesday, March 27th. Claros Mortgage Trust’s dividend payout ratio is 5,000.00%.

Institutional Trading of Claros Mortgage Trust

Several hedge funds have recently added to or reduced their stakes in CMTG. FMR LLC boosted its stake in Claros Mortgage Trust by 200.4% during the 1st quarter. FMR LLC now owns 2,154 shares of the company’s stock valued at $25,000 after purchasing an additional 1,437 shares during the period. Tower Research Capital LLC TRC boosted its stake in Claros Mortgage Trust by 204.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,521 shares of the company’s stock valued at $29,000 after purchasing an additional 1,693 shares during the period. Citigroup Inc. boosted its stake in Claros Mortgage Trust by 36.2% during the 4th quarter. Citigroup Inc. now owns 2,531 shares of the company’s stock valued at $37,000 after purchasing an additional 673 shares during the period. Quantbot Technologies LP bought a new stake in Claros Mortgage Trust during the 2nd quarter valued at approximately $49,000. Finally, JPMorgan Chase & Co. bought a new stake in Claros Mortgage Trust during the 1st quarter valued at approximately $104,000. Institutional investors 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.