Claros Mortgage Trust (NYSE:CMTG) Shares Down 3.3%

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) dropped 3.3% during mid-day trading on Monday . The stock traded as low as $8.12 and last traded at $8.12. Approximately 95,208 shares were traded during trading, a decline of 68% from the average daily volume of 301,294 shares. The stock had previously closed at $8.40.

Wall Street Analyst Weigh In

Several research firms recently commented on CMTG. UBS Group dropped their target price on Claros Mortgage Trust from $11.50 to $10.00 and set a "neutral" rating for the company in a research note on Wednesday, March 20th. Wells Fargo & Company dropped their price target on shares of Claros Mortgage Trust from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 8th. JPMorgan Chase & Co. cut their target price on Claros Mortgage Trust from $11.00 to $9.50 and set a "neutral" rating on the stock in a research report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Claros Mortgage Trust from $9.75 to $9.50 and set an "underperform" rating for the company in a research report on Wednesday, April 10th.

Claros Mortgage Trust Stock Down 1.1 %

The stock has a 50 day moving average of $9.23 and a 200 day moving average of $10.92. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -13.39 and a beta of 1.59. The company has a quick ratio of 26.27, a current ratio of 26.27 and a debt-to-equity ratio of 2.07.

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, beating analysts' consensus estimates of $0.12 by $0.19. Claros Mortgage Trust had a positive return on equity of 1.51% and a negative net margin of 28.16%. The business had revenue of $75.98 million during the quarter, compared to the consensus estimate of $72.79 million. As a group, analysts expect that Claros Mortgage Trust, Inc. will post 0.27 earnings per share for the current fiscal year.

Claros Mortgage Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 12.04%. The ex-dividend date of this dividend was Wednesday, March 27th. Claros Mortgage Trust's dividend payout ratio (DPR) is presently -161.29%.

Institutional Trading of Claros Mortgage Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd grew its stake in Claros Mortgage Trust by 349.4% during the 1st quarter. Covestor Ltd now owns 10,897 shares of the company's stock worth $106,000 after buying an additional 8,472 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Claros Mortgage Trust by 32.2% during the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the company's stock valued at $106,000 after purchasing an additional 2,651 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Claros Mortgage Trust in the 3rd quarter worth approximately $149,000. ProShare Advisors LLC raised its holdings in shares of Claros Mortgage Trust by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company's stock worth $159,000 after purchasing an additional 1,284 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Claros Mortgage Trust by 22.7% during the fourth 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. 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.

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