Claros Mortgage Trust (NYSE:CMTG) Reaches New 52-Week Low on 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 research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Keefe, Bruyette & Woods dropped 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 research report on Wednesday, April 10th. Finally, UBS Group lowered their price objective on Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, March 20th.

Hedge Funds Weigh In On Claros Mortgage Trust

Several institutional investors and hedge funds have recently modified their holdings of CMTG. ProShare Advisors LLC raised its holdings in shares of Claros Mortgage Trust by 8.5% in the 1st 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. SG Americas Securities LLC raised 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 buying an additional 2,651 shares in the last quarter. Van ECK Associates Corp increased its holdings in Claros Mortgage Trust by 0.7% in the first quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock valued at $3,166,000 after buying an additional 2,190 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Claros Mortgage Trust by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock valued at $155,730,000 after purchasing an additional 55,256 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Claros Mortgage Trust by 11,644.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock valued at $199,122,000 after buying an additional 14,484,684 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Trading Down 4.4 %

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 stock has a market capitalization of $1.15 billion, a PE ratio of 412.71 and a beta of 1.59. The business’s fifty day moving average is $9.31 and its 200-day moving average is $10.96.

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

Claros Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.08%. Claros Mortgage Trust’s dividend payout ratio (DPR) 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.