Claros Mortgage Trust (NYSE:CMTG) Sets New 52-Week Low Following Analyst Downgrade

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

Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods lowered their price target on Claros Mortgage Trust from $9.75 to $9.50 and set an "underperform" rating for the company in a research note 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 for the company in a research note on Wednesday, April 10th. Finally, UBS Group decreased their price target on Claros Mortgage Trust from $11.50 to $10.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 20th.

Institutional Trading of Claros Mortgage Trust

A number of hedge funds have recently bought and sold shares of CMTG. SG Americas Securities LLC lifted its holdings in shares of Claros Mortgage Trust by 32.2% in the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company's stock worth $106,000 after buying an additional 2,651 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Claros Mortgage Trust in the 3rd quarter worth approximately $149,000. ProShare Advisors LLC boosted its holdings in Claros Mortgage Trust by 8.5% in 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. Victory Capital Management Inc. increased its position in shares of Claros Mortgage Trust by 22.7% during the 4th quarter. Victory Capital Management Inc. now owns 17,353 shares of the company's stock valued at $237,000 after purchasing an additional 3,209 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Claros Mortgage Trust by 90.0% in the fourth quarter. Handelsbanken Fonder AB now owns 24,700 shares of the company's stock worth $337,000 after buying an additional 11,700 shares during the period. 89.53% of the stock is currently owned by institutional investors.

Claros Mortgage Trust Stock Down 5.1 %

The company has a debt-to-equity ratio of 2.09, a quick ratio of 25.03 and a current ratio of 25.03. The stock has a market capitalization of $1.14 billion, a P/E ratio of 411.21 and a beta of 1.59. The company's 50-day moving average price is $9.31 and its 200 day moving average price is $10.96.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.19. The firm had revenue of $75.98 million during the quarter, compared to analyst estimates of $72.79 million. Claros Mortgage Trust had a net margin of 1.97% and a return on equity of 2.01%. As a group, 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 business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 12.17%. Claros Mortgage Trust's payout ratio is currently 5,002.50%.

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.