Claros Mortgage Trust (NYSE:CMTG) Sets New 12-Month Low on Analyst Downgrade

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price hit a new 52-week low during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $11.00 to $9.00. Wells Fargo & Company currently has an equal weight rating on the stock. Claros Mortgage Trust traded as low as $8.19 and last traded at $8.20, with a volume of 33408 shares. The stock had previously closed at $8.66.

Several other analysts have also weighed in on CMTG. UBS Group cut their price objective on Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, March 20th. JPMorgan Chase & Co. lowered their price objective on shares of Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating for the company in a report on Wednesday, April 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in Claros Mortgage Trust by 32.2% in the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock worth $106,000 after purchasing an additional 2,651 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Claros Mortgage Trust during the third quarter valued at $149,000. ProShare Advisors LLC raised its position in Claros Mortgage Trust by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $159,000 after buying an additional 1,284 shares during the period. Victory Capital Management Inc. lifted its stake in Claros Mortgage Trust by 22.7% in the 4th quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock worth $237,000 after acquiring an additional 3,209 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Claros Mortgage Trust by 90.0% during the 4th quarter. Handelsbanken Fonder AB now owns 24,700 shares of the company’s stock worth $337,000 after acquiring an additional 11,700 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Claros Mortgage Trust Stock Down 5.1 %

The company has a quick ratio of 25.03, a current ratio of 25.03 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $1.14 billion, a PE ratio of 410.96 and a beta of 1.59. The business’s 50-day moving average price is $9.29 and its 200-day moving average price is $10.94.

Claros Mortgage Trust (NYSE:CMTG) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.12 by $0.19. Claros Mortgage Trust had a net margin of 1.97% and a return on equity of 2.01%. The business had revenue of $75.98 million for the quarter, compared to analysts’ expectations of $72.79 million. As a group, equities research analysts predict that Claros Mortgage Trust, Inc. will post 0.66 EPS for the current fiscal year.

Claros Mortgage Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 12.17%. Claros Mortgage Trust’s dividend payout ratio is 5,002.50%.

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.