Claros Mortgage Trust (NYSE:CMTG) Shares Gap Down to $8.58

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) gapped down prior to trading on Friday . The stock had previously closed at $8.58, but opened at $8.24. Claros Mortgage Trust shares last traded at $8.08, with a volume of 254,370 shares trading hands.

Wall Street Analysts Forecast Growth

CMTG has been the subject of several analyst reports. Wells Fargo & Company cut shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target for the company. in a report on Friday. JPMorgan Chase & Co. boosted their price target on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. JMP Securities reiterated a “market perform” rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. BTIG Research initiated coverage on shares of Claros Mortgage Trust in a report on Friday, July 19th. They set a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating for the company in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.75.

Claros Mortgage Trust Stock Performance

The firm’s fifty day moving average price is $8.40 and its 200-day moving average price is $8.58. The company has a current ratio of 28.19, a quick ratio of 28.19 and a debt-to-equity ratio of 2.12. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -12.97 and a beta of 1.50.

Claros Mortgage Trust (NYSE:CMTG) last issued its earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.10. Claros Mortgage Trust had a negative net margin of 35.47% and a positive return on equity of 3.30%. The business had revenue of $64.49 million during the quarter, compared to analysts’ expectations of $64.25 million. Analysts expect that Claros Mortgage Trust, Inc. will post 0.15 earnings per share for the current year.

Claros Mortgage Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Monday, September 30th. Claros Mortgage Trust’s payout ratio is -64.52%.

Institutional Trading of Claros Mortgage Trust

Several institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in Claros Mortgage Trust by 11,644.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock valued at $199,122,000 after purchasing an additional 14,484,684 shares during the last quarter. Vanguard Group Inc. raised its position in Claros Mortgage Trust by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock valued at $111,810,000 after purchasing an additional 30,377 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Claros Mortgage Trust by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock worth $11,874,000 after buying an additional 13,165 shares during the last quarter. Waterfall Asset Management LLC purchased a new position in Claros Mortgage Trust during the 2nd quarter worth $4,448,000. Finally, Bank of New York Mellon Corp raised its position in Claros Mortgage Trust by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after buying an additional 36,911 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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.