Claros Mortgage Trust, Inc. (NYSE:CMTG) Receives $9.38 Average Target Price from Analysts

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have earned a consensus rating of “Reduce” from the six ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $9.38.

A number of research analysts recently issued reports on CMTG shares. BTIG Research started coverage on shares of Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating for the company. JMP Securities reiterated a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. Wells Fargo & Company decreased their price target on shares of 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. Keefe, Bruyette & Woods reduced their price objective 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, JPMorgan Chase & Co. boosted their price objective on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th.

Claros Mortgage Trust Trading Up 2.4 %

Shares of CMTG stock opened at $9.49 on Friday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 26.27 and a current ratio of 26.27. The stock has a market capitalization of $1.32 billion, a P/E ratio of -15.31 and a beta of 1.52. The company has a 50 day moving average price of $8.24 and a 200 day moving average price of $9.40. Claros Mortgage Trust has a fifty-two week low of $6.80 and a fifty-two week high of $15.25.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. Claros Mortgage Trust had a negative net margin of 28.16% and a positive return on equity of 1.51%. The company had revenue of $58.83 million during the quarter, compared to the consensus estimate of $63.64 million. Equities research analysts predict that Claros Mortgage Trust will post 0.15 EPS for the current fiscal year.

Claros Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 10.54%. Claros Mortgage Trust’s dividend payout ratio is presently -161.29%.

Insider Transactions at Claros Mortgage Trust

In other Claros Mortgage Trust news, insider Jeffrey D. Siegel purchased 5,000 shares of Claros Mortgage Trust stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $7.23 per share, for a total transaction of $36,150.00. Following the transaction, the insider now directly owns 167,242 shares in the company, valued at $1,209,159.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Claros Mortgage Trust news, insider Jeffrey D. Siegel purchased 5,000 shares of Claros Mortgage Trust stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $7.23 per share, for a total transaction of $36,150.00. Following the transaction, the insider now directly owns 167,242 shares in the company, valued at $1,209,159.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Edward Walter purchased 7,000 shares of Claros Mortgage Trust stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average price of $7.21 per share, with a total value of $50,470.00. Following the transaction, the director now owns 13,760 shares in the company, valued at $99,209.60. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 193,000 shares of company stock worth $1,393,140. 1.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Claros Mortgage Trust

Several institutional investors have recently bought and sold shares of CMTG. Goldman Sachs Group Inc. increased its stake 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 buying an additional 14,484,684 shares during the period. Vanguard Group Inc. increased its stake in Claros Mortgage Trust by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,370,271 shares of the company’s stock valued at $125,983,000 after buying an additional 91,413 shares during the period. Bank of New York Mellon Corp increased its stake in Claros Mortgage Trust by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock valued at $3,278,000 after buying an additional 36,911 shares during the period. Simplicity Wealth LLC acquired a new position in Claros Mortgage Trust in the 2nd quarter valued at $121,000. Finally, Lazard Asset Management LLC acquired a new position in Claros Mortgage Trust in the 1st quarter valued at $140,000. 89.53% of the stock is owned by institutional investors and hedge funds.

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.