Claros Mortgage Trust (NYSE:CMTG) Shares Gap Down After Analyst Downgrade

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price gapped down before the market opened on Wednesday after Keefe, Bruyette & Woods lowered their price target on the stock from $11.00 to $10.00. The stock had previously closed at $11.31, but opened at $11.06. Claros Mortgage Trust shares last traded at $11.16, with a volume of 12,270 shares.

A number of other research analysts also recently issued reports on CMTG. Wells Fargo & Company downgraded shares of Claros Mortgage Trust from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $13.00 to $11.00 in a research report on Thursday, August 3rd. JPMorgan Chase & Co. upgraded shares of Claros Mortgage Trust from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $11.50 to $12.00 in a research report on Monday, July 24th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Claros Mortgage Trust by 176.7% during the third quarter. Vanguard Group Inc. now owns 10,851,780 shares of the company’s stock worth $127,399,000 after purchasing an additional 6,930,200 shares in the last quarter. State Street Corp purchased a new stake in shares of Claros Mortgage Trust during the second quarter worth about $19,780,000. BlackRock Inc. increased its stake in shares of Claros Mortgage Trust by 12.0% during the third quarter. BlackRock Inc. now owns 7,572,721 shares of the company’s stock worth $88,904,000 after purchasing an additional 812,501 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Claros Mortgage Trust by 1,655.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 694,001 shares of the company’s stock worth $7,870,000 after purchasing an additional 654,466 shares in the last quarter. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Claros Mortgage Trust during the third quarter worth about $4,662,000. Hedge funds and other institutional investors own 71.57% of the company’s stock.

Claros Mortgage Trust Stock Down 1.1 %

The firm has a market cap of $1.55 billion, a PE ratio of 27.27 and a beta of 1.75. The business’s 50 day moving average price is $11.40 and its 200 day moving average price is $11.73. The company has a debt-to-equity ratio of 2.10, a current ratio of 35.27 and a quick ratio of 35.27.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Tuesday, August 1st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.40). Claros Mortgage Trust had a return on equity of 5.15% and a net margin of 19.46%. The company had revenue of $80.93 million for the quarter, compared to analysts’ expectations of $80.99 million. On average, equities research analysts expect that Claros Mortgage Trust, Inc. will post 0.45 earnings per share for the current year.

Claros Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $1.48 annualized dividend and a yield of 13.24%. Claros Mortgage Trust’s dividend payout ratio is presently 360.98%.

Claros Mortgage Trust Company Profile

Claros Mortgage Trust, Inc operates as a real estate investment trust. The company focuses on originating senior and subordinate loans on transitional commercial real estate assets in the United States. Claros Mortgage Trust, Inc was incorporated in 2015 and is headquartered in New York, New York.