Claros Mortgage Trust (NYSE:CMTG) Downgraded to “Underweight” at Wells Fargo & Company

Wells Fargo & Company lowered shares of Claros Mortgage Trust (NYSE:CMTG) from an equal weight rating to an underweight rating in a research note published on Friday, MarketBeat Ratings reports. They currently have $8.00 price target on the stock.

Several other equities research analysts have also commented on CMTG. JMP Securities reissued a market perform rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. JPMorgan Chase & Co. lifted their target price on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the company a neutral rating in a research report on Tuesday, July 16th. BTIG Research assumed coverage on shares of Claros Mortgage Trust in a research report on Friday, July 19th. They set a neutral rating for the company. Finally, Keefe, Bruyette & Woods lowered their price objective 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. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $8.75.

Claros Mortgage Trust Trading Down 0.5 %

CMTG stock opened at $8.00 on Friday. Claros Mortgage Trust has a 52-week low of $6.80 and a 52-week high of $15.25. The company has a quick ratio of 28.19, a current ratio of 28.19 and a debt-to-equity ratio of 2.12. The firm has a market cap of $1.11 billion, a P/E ratio of -12.90 and a beta of 1.49. The company’s 50-day simple moving average is $8.38 and its 200-day simple moving average is $8.56.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. The company had revenue of $64.49 million for the quarter, compared to the consensus estimate of $64.25 million. Claros Mortgage Trust had a positive return on equity of 3.30% and a negative net margin of 35.47%. As a group, equities analysts forecast that Claros Mortgage Trust will post 0.15 EPS for the current fiscal year.

Claros Mortgage Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.10 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 5.00%. Claros Mortgage Trust’s payout ratio is -64.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CMTG. Gladius Capital Management LP acquired a new stake in shares of Claros Mortgage Trust in the second quarter valued at approximately $33,000. 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 worth $106,000 after acquiring an additional 2,651 shares during the last quarter. Covestor Ltd increased its stake in shares of Claros Mortgage Trust by 349.4% in 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 last quarter. MQS Management LLC purchased a new position in shares of Claros Mortgage Trust during the 1st quarter worth $128,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Claros Mortgage Trust during the 1st quarter valued at about $140,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.