Claros Mortgage Trust (NYSE:CMTG) Sets New 52-Week Low After Analyst Downgrade

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) reached a new 52-week low 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 traded. The stock had previously closed at $8.66.

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

Hedge Funds Weigh In On Claros Mortgage Trust

Institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC grew its stake in Claros Mortgage Trust by 8.5% in the first quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $159,000 after purchasing an additional 1,284 shares during the last quarter. SG Americas Securities LLC increased its stake 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 in the last quarter. Van ECK Associates Corp boosted its stake in shares of Claros Mortgage Trust by 0.7% in the first quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock worth $3,166,000 after acquiring an additional 2,190 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Claros Mortgage Trust by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock valued at $155,730,000 after acquiring an additional 55,256 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Claros Mortgage Trust by 11,644.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock valued at $199,122,000 after purchasing an additional 14,484,684 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Claros Mortgage Trust Price Performance

The company’s 50-day moving average price is $9.31 and its 200-day moving average price is $10.96. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 412.71 and a beta of 1.59. 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 (NYSE:CMTG) last posted its quarterly earnings data 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 return on equity of 2.01% and a net margin of 1.97%. The firm had revenue of $75.98 million during the quarter, compared to the consensus estimate of $72.79 million. On average, equities research analysts forecast that Claros Mortgage Trust, Inc. will post 0.66 EPS for the current year.

Claros Mortgage Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a yield of 12.08%. Claros Mortgage Trust’s payout ratio is 5,002.50%.

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.