Claros Mortgage Trust (NYSE:CMTG) Hits New 12-Month Low on Analyst Downgrade

May 9, 2024

3 minutes read

Claros Mortgage Trust, Inc. (NYSE:CMTG – Get Free Report) shares reached a new 52-week low during trading 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 trading hands. The stock had previously closed at $8.66.

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

Read Our Latest Stock Report on CMTG

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Claros Mortgage Trust in the third quarter worth $228,000. Bank of New York Mellon Corp boosted its stake in Claros Mortgage Trust by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 393,169 shares of the company’s stock worth $4,356,000 after purchasing an additional 15,895 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Claros Mortgage Trust by 5.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 51,908 shares of the company’s stock worth $575,000 after purchasing an additional 2,639 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Claros Mortgage Trust during the 3rd quarter valued at approximately $149,000. Finally, New York State Common Retirement Fund raised its stake in Claros Mortgage Trust by 28.9% in the 3rd quarter. New York State Common Retirement Fund now owns 74,041 shares of the company’s stock worth $820,000 after acquiring an additional 16,602 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Down 5.1 %

The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 410.96 and a beta of 1.59. The company has a debt-to-equity ratio of 2.09, a current ratio of 25.03 and a quick ratio of 25.03. The business has a fifty day moving average price of $9.29 and a two-hundred day moving average price of $10.94.

Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.19. The company had revenue of $75.98 million for the quarter, compared to the consensus estimate of $72.79 million. Claros Mortgage Trust had a net margin of 1.97% and a return on equity of 2.01%. On average, equities analysts expect that Claros Mortgage Trust, Inc. will post 0.66 earnings per share for the current year.

Claros Mortgage Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 12.17%. Claros Mortgage Trust’s dividend payout ratio (DPR) is presently 5,002.50%.

Claros Mortgage Trust Company Profile

(Get Free Report)

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.