Claros Mortgage Trust (NYSE:CMTG) Reaches New 52-Week Low on Analyst Downgrade

Claros Mortgage Trust, Inc. (NYSE:CMTG) shares 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 changing hands. The stock had previously closed at $8.66.

CMTG has been the topic of several other reports. Keefe, Bruyette & Woods reduced their target price on Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. reduced their target price on Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. Finally, UBS Group reduced their target price 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC grew its holdings in shares of Claros Mortgage Trust by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $159,000 after purchasing an additional 1,284 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Claros Mortgage Trust by 0.7% during the first quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock worth $3,166,000 after purchasing an additional 2,190 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Claros Mortgage Trust by 5.4% during the third 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. SG Americas Securities LLC grew its holdings in shares of Claros Mortgage Trust by 32.2% during the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock worth $106,000 after purchasing an additional 2,651 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Claros Mortgage Trust by 22.7% during the fourth quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock worth $237,000 after purchasing an additional 3,209 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Performance

The company has a market capitalization of $1.16 billion, a P/E ratio of -13.44 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 company has a fifty day moving average price of $9.26 and a two-hundred day moving average price of $10.92.

Claros Mortgage Trust (NYSE:CMTG) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.31 EPS for the quarter, topping 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%. Equities analysts forecast that Claros Mortgage Trust, Inc. will post 0.66 earnings per share for the current fiscal year.

Claros Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.00%. The ex-dividend date was Wednesday, March 27th. Claros Mortgage Trust’s dividend payout ratio is currently -161.29%.

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.