Brokerages Set Claros Mortgage Trust, Inc. (NYSE:CMTG) PT at $9.00

Claros Mortgage Trust, Inc. (NYSE:CMTG) has been assigned a consensus recommendation of “Reduce” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $9.00.

A number of brokerages have recently weighed in on CMTG. JMP Securities restated a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. JPMorgan Chase & Co. raised their price target on Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Keefe, Bruyette & Woods decreased their price target 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, BTIG Research assumed coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP acquired a new position in shares of Claros Mortgage Trust during the 2nd quarter worth approximately $33,000. Covestor Ltd boosted its stake in shares of Claros Mortgage Trust by 349.4% during the 1st quarter. Covestor Ltd now owns 10,897 shares of the company’s stock worth $106,000 after acquiring an additional 8,472 shares during the period. SG Americas Securities LLC boosted its stake 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 worth $106,000 after acquiring an additional 2,651 shares during the period. Simplicity Wealth LLC bought a new position in shares of Claros Mortgage Trust during the 2nd quarter worth approximately $121,000. Finally, MQS Management LLC bought a new position in shares of 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 Stock Performance

Shares of NYSE CMTG opened at $7.70 on Friday. The business has a fifty day simple moving average of $8.43 and a 200 day simple moving average of $8.65. The company has a current ratio of 28.19, a quick ratio of 28.19 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -12.42 and a beta of 1.50. Claros Mortgage Trust has a one year low of $6.80 and a one year high of $15.25.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings data on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $64.25 million. Sell-side analysts expect that Claros Mortgage Trust 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. 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 dividend yield of 5.19%. The ex-dividend date of this dividend is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio (DPR) is -161.29%.

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.