Marketbeat.com reports that BTIG Research initiated coverage on shares of Claros Mortgage Trust (NYSE:CMTG – FREE REPORT ) in a research note issued to investors on Friday morning, and the firm issued a Neutral rating on the stock.
Several other equities research analysts have also commented on the stock. Keefe, Bruyette & Woods lowered their price target on Claros Mortgage Trust from $9.75 to $9.50 and rated the stock as underperform in a research report on Wednesday, April 10th. JPMorgan Chase raised their price target on Claros Mortgage Trust from $8.50 to $9.00 and rated the stock as neutral in a research report on Tuesday. Wells Fargo lowered their price target on Claros Mortgage Trust from $11.00 to $9.00 and rated the stock as equal weight in a research report on Wednesday, May 8th. Finally, JMP Securities restated their market perform rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating and five have rated the company with a hold rating. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $9.38.
Check out the latest CMTG stock report
Claros Mortgage Trust shares rose 0.9%
NYSE CMTG opened trading at $9.01 on Friday.Claras Mortgage Trust's 52-week low is $6.80 and high is $15.25. The company's 50-day moving average price is $8.20 and 200-day moving average price is $9.51.The company has a debt-to-equity ratio of 2.07, a current ratio of 26.27 and a quick ratio of 26.27.
Claros Mortgage Trust (NYSE:CMTG – Get Free Report ) announced its latest earnings results on Monday, May 6th. The company reported quarterly earnings per share (EPS) of $0.20, beating analysts' consensus estimates of $0.16 by $0.04. Revenues for the quarter were $58.83 million, beating the consensus estimate of $63.64 million. Claros Mortgage Trust had a positive ROE of 1.51% and a negative net margin of 28.16%. On average, equities research analysts expect Claros Mortgage Trust to post earnings of $0.15 per share for the current fiscal year.
Claros Mortgage Trust Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.25 dividend. The ex-dividend date was Friday, June 28th. This equates to an annualized dividend of $1.00 and a yield of 11.10%. Claros Mortgage Trust's dividend payout ratio is currently -161.29%.
Insiders bet
In other Claros Mortgage Trust news, Director, Vincent Tese, purchased 5,000 shares of Claros Mortgage Trust stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $7.26 per share, for a total transaction value of $36,300. Following the completion of the transaction, the director now owns 6,000 shares of the company's stock, valued at approximately $43,560. The purchase was disclosed in a document filed with the Securities and Exchange Commission, which can be accessed through this link. In other news, CEO, Richard Mack purchased 116,000 shares of the company's stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $7.18 per share, for a total transaction value of $832,880.Following the completion of the purchase, the CEO will directly own 2,551,853 shares of the company's stock, valued at approximately $18,322,304.54. The purchase was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed on the SEC's website. Director Vincent Tese also acquired 5,000 shares of Claros Mortgage Trust stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $7.26 per share, for a total transaction value of $36,300. Following the completion of the purchase, the director will directly own 6,000 shares of the company's stock, valued at $43,560. The disclosure for this purchase can be found here. Insiders acquired a total of 193,000 shares of the company's stock in the last quarter, valued at $1,393,140. Currently, 1.40% of the stock is owned by company insiders.
Institutional investor inflows and outflows
Several hedge funds have recently bought and sold shares of CMTG. Vanguard Group increased its holdings in Claros Mortgage Trust by 0.8% in the third quarter. Vanguard Group acquired an additional 91,413 shares during the period and now holds 11,370,271 shares of the company's stock, valued at $125,983,000. Handelsbank Fonder AB increased its holdings in Claros Mortgage Trust by 90.0% in the fourth quarter. Handelsbank Fonder AB acquired an additional 11,700 shares during the last quarter and now holds 24,700 shares of the company's stock, valued at $337,000. Van Eck Associates Corp increased its holdings in Claros Mortgage Trust by 1.7% during the fourth quarter. Van ECK Associates Corp now holds 322,173 shares of the company's stock, valued at $4,391,000, after purchasing an additional 5,465 shares during the period. Victory Capital Management Inc. increased its holdings in Claros Mortgage Trust by 22.7% during the fourth quarter. Victory Capital Management Inc. now holds 17,353 shares of the company's stock, valued at $237,000, after purchasing an additional 3,209 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Claros Mortgage Trust by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now holds 871,156 shares of the company's stock, valued at $11,874,000, after purchasing an additional 13,165 shares during the period. Hedge funds and other institutional investors hold 89.53% of the company's stock.
About Claros Mortgage Trust
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Claros Mortgage Trust, Inc operates as a real estate investment trust. The company focuses on originating senior and subordinated 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, the portion of its net income distributed to shareholders is not subject to corporate income taxes.
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