Claros Mortgage Trust (NYSE:CMTG) Price Target Cut to $10.00 by Analysts at UBS Group
Claros Mortgage Trust (NYSE:CMTG – Free Report) had its target price lowered by UBS Group from $11.50 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.
Separately, Keefe, Bruyette & Woods dropped their price target on Claros Mortgage Trust from $10.75 to $9.75 and set an underperform rating on the stock in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $10.44.
Check Out Our Latest Research Report on Claros Mortgage Trust
Claros Mortgage Trust Price Performance
CMTG opened at $9.94 on Wednesday. The company has a current ratio of 25.03, a quick ratio of 25.03 and a debt-to-equity ratio of 2.09. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 497.00 and a beta of 1.58. The stock’s 50-day moving average price is $10.62 and its 200 day moving average price is $11.46. Claros Mortgage Trust has a 12-month low of $9.06 and a 12-month high of $15.25.
Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last posted its quarterly 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, sell-side analysts expect that Claros Mortgage Trust will post 0.61 earnings per share for the current year.
Claros Mortgage Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 10.06%. Claros Mortgage Trust’s dividend payout ratio is presently 5,000.00%.
Hedge Funds Weigh In On Claros Mortgage Trust
Institutional investors have recently made changes to their positions in the stock. FMR LLC grew its position in shares of Claros Mortgage Trust by 200.4% in the first quarter. FMR LLC now owns 2,154 shares of the company’s stock valued at $25,000 after purchasing an additional 1,437 shares during the period. Tower Research Capital LLC TRC grew its position in Claros Mortgage Trust by 204.5% during the first quarter. Tower Research Capital LLC TRC now owns 2,521 shares of the company’s stock valued at $29,000 after acquiring an additional 1,693 shares during the period. Citigroup Inc. grew its position in Claros Mortgage Trust by 36.2% during the fourth quarter. Citigroup Inc. now owns 2,531 shares of the company’s stock valued at $37,000 after acquiring an additional 673 shares during the period. Quantbot Technologies LP purchased a new stake in Claros Mortgage Trust during the second quarter valued at about $49,000. Finally, JPMorgan Chase & Co. purchased a new stake in Claros Mortgage Trust during the first quarter valued at about $104,000. 71.57% of the stock is 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.
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