Analysts Set Claros Mortgage Trust, Inc. (NYSE:CMTG) Target Price at $8.13

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have been assigned an average recommendation of “Reduce” from the six analysts that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $8.13.

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price target on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, October 17th. BTIG Research started coverage on Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods lowered their price objective on Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating for the company in a research report on Monday, August 12th. Finally, Wells Fargo & Company downgraded shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research report on Friday, September 20th.

Hedge Funds Weigh In On Claros Mortgage Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Gladius Capital Management LP bought a new position in Claros Mortgage Trust in the second quarter worth approximately $33,000. Blue Trust Inc. lifted its position in Claros Mortgage Trust by 2,260.7% during the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after purchasing an additional 5,177 shares in the last quarter. Covestor Ltd grew its holdings in Claros Mortgage Trust by 349.4% during the first quarter. Covestor Ltd now owns 10,897 shares of the company’s stock valued at $106,000 after purchasing an additional 8,472 shares during the period. SG Americas Securities LLC increased its position in 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. Finally, Simplicity Wealth LLC bought a new position in shares of Claros Mortgage Trust in the second quarter worth about $121,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Performance

Claros Mortgage Trust stock opened at $6.29 on Friday. The firm has a fifty day simple moving average of $7.28 and a two-hundred day simple moving average of $8.03. The company has a quick ratio of 28.19, a current ratio of 28.19 and a debt-to-equity ratio of 2.12. Claros Mortgage Trust has a twelve month low of $6.08 and a twelve month high of $15.25. The company has a market capitalization of $872.72 million, a PE ratio of -10.29 and a beta of 1.49.

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

Claros Mortgage Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.36%. The ex-dividend date of this dividend was Monday, September 30th. Claros Mortgage Trust’s payout ratio is currently -64.52%.

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.