Mirae Asset Global Investments Co. Ltd. reduced its holdings in Claros Mortgage Trust, Inc. (NYSE:CMTG – free report ) by 93.2% during the first quarter, according to its latest Form 13F filing with the Securities and Exchange Commission (SEC). The fund held 39,535 shares of the company's stock after selling 538,343 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Claros Mortgage Trust were worth $386,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings in the business. Goldman Sachs Group Inc. increased its stake in Claros Mortgage Trust by 11,644.8% in the fourth quarter. The 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 in the last quarter. The Vanguard Group Inc. increased its stake in Claros Mortgage Trust by 0.8% in the third quarter. The Vanguard Group Inc. now owns 11,370,271 shares of the company's stock, valued at $125,983,000, after purchasing an additional 91,413 shares in the last quarter. Charles Schwab Investment Management increased its stake in Claros Mortgage Trust by 1.5% in the fourth quarter.Charles Schwab Investment Management Co. now owns 871,156 shares of the company's stock valued at $11,874,000 after purchasing an additional 13,165 shares in the last quarter. Handelsbank Fonder AB increased its stake in Claros Mortgage Trust by 90.0% in the fourth quarter. Handelsbank Fonder AB now owns 24,700 shares of the company's stock valued at $337,000 after purchasing an additional 11,700 shares in the last quarter. Finally, Van Eck Associates Inc. increased its stake in Claros Mortgage Trust by 1.7% in the fourth quarter. Van Eck Associates Inc. now owns 322,173 shares of the company's stock valued at $4,391,000 after purchasing an additional 5,465 shares in the last quarter. 89.53% of the stock is held by institutional investors.
Analyst upgrades and downgrades
Several brokerage firms have commented on CMTG. Wells Fargo & Company lowered their price target on Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating on the company in a research note on Wednesday, May 8th. JMP Securities reaffirmed their “market perform” rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. Keefe, Bruett & Woods lowered their price target on Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating on the company in a report on Wednesday, April 10th. BTIG Research initiated coverage on shares of Claros Mortgage Trust in a report on Friday. The firm issued a “neutral” rating on the company. Finally, JPMorgan Chase increased their price objective on Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, and five have assigned a hold rating to the company. According to MarketBeat.com, Claros Mortgage Trust currently has an average rating of “hold” and an average price target of $9.38.
Get the latest CMTG report
Claros Mortgage Trust shares rose 0.9%
Claros Mortgage Trust shares opened trading at $9.01 on Friday. Claros Mortgage Trust has a 12-month low of $6.80 and a 12-month high of $15.25. The company's 50-day moving average is $8.20 and 200-day moving average is $9.51. The company has a market cap of $1.25 billion, a P/E ratio of -14.53 and a beta of 1.52. 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 released its earnings results on Monday, May 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. Claros Mortgage Trust had a net margin of -28.16% and a return on equity of +1.51%. Revenues of $58.83 million for the quarter, beating analyst expectations of $63.64 million. On average, equities research analysts expect Claros Mortgage Trust, Inc. to post EPS of $0.14 for the current quarter.
Claros Mortgage Trust Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.25 per share. This equates to an annualized dividend of $1.00 and a yield of 11.10%. The ex-dividend date was Friday, June 28th. Claros Mortgage Trust has a dividend payout ratio of -161.29%.
Insider trading
In other Claros Mortgage Trust news, CEO Richard Mack bought 116,000 shares of Claros Mortgage Trust 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 $832,880.00. Following the completion of the acquisition, the CEO now owns 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 through this hyperlink. In other news, CEO Richard Mack bought 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 $832,880.00. Following the completion of the purchase, the Chief Executive Officer 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 document filed with the SEC, which can be accessed through this hyperlink. Additionally, Director W Edward Walter purchased 7,000 shares of the company's stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $7.21 per share, for a total value of $50,470.00. Following the purchase, the Director will own 13,760 shares of the company's stock, valued at $99,209.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 193,000 shares of the company's stock for $1,393,140. 1.40% of the stock is owned by insiders.
Claros Mortgage Trust Profile
(Free report)
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.
References
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