Keefe, Bruyette & Woods Lowers Claros Mortgage Trust (NYSE:CMTG) Price Target to $8.00

Claros Mortgage Trust (NYSE:CMTG) had its price objective decreased by Keefe, Bruyette & Woods from $8.50 to $8.00 in a research note published on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the stock.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company cut their price target on Claros Mortgage Trust from $11.00 to $9.00 and set an equal weight rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. boosted their target price on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a neutral rating in a report on Tuesday, July 16th. JMP Securities reissued a market perform rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. Finally, BTIG Research started coverage on shares of Claros Mortgage Trust in a research report on Friday, July 19th. They set a neutral rating for the company. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $9.00.

Claros Mortgage Trust Trading Up 2.5 %

NYSE CMTG opened at $7.96 on Monday. The stock has a market cap of $1.10 billion, a P/E ratio of -12.98 and a beta of 1.53. The company has a current ratio of 26.27, a quick ratio of 26.27 and a debt-to-equity ratio of 2.07. The stock’s fifty day moving average price is $8.52 and its 200-day moving average price is $9.01. Claros Mortgage Trust has a 12 month low of $6.80 and a 12 month high of $15.25.

Claros Mortgage Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 5.03%. The ex-dividend date is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio is presently -64.52%.

Insider Activity at Claros Mortgage Trust

In related news, Director Vincent Tese purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $7.26 per share, with a total value of $36,300.00. Following the acquisition, the director now owns 6,000 shares in the company, valued at $43,560. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Vincent Tese purchased 5,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of $7.26 per share, with a total value of $36,300.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at approximately $43,560. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mike Mcgillis bought 15,000 shares of the business’s stock in a transaction on Friday, May 24th. The shares were acquired at an average cost of $7.34 per share, with a total value of $110,100.00. Following the purchase, the chief financial officer now owns 475,419 shares of the company’s stock, valued at $3,489,575.46. The disclosure for this purchase can be found here. Insiders have bought a total of 193,000 shares of company stock worth $1,393,140 over the last quarter. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Gladius Capital Management LP acquired a new stake in Claros Mortgage Trust during the 2nd quarter worth $33,000. Covestor Ltd lifted its holdings in shares of Claros Mortgage Trust by 349.4% in the 1st 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 last quarter. SG Americas Securities LLC boosted its position in shares of Claros Mortgage Trust by 32.2% in the 1st 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 period. Simplicity Wealth LLC acquired a new stake in shares of Claros Mortgage Trust in the 2nd quarter valued at about $121,000. Finally, MQS Management LLC purchased a new position in Claros Mortgage Trust during the 1st quarter worth 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.