Claros Mortgage Trust (NYSE:CMTG) Shares Down 4.5%

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s share price fell 4.5% during mid-day trading on Wednesday . The stock traded as low as $7.44 and last traded at $7.46. 48,897 shares changed hands during trading, a decline of 85% from the average session volume of 328,402 shares. The stock had previously closed at $7.81.

Analyst Ratings Changes

Several brokerages recently issued reports on CMTG. BTIG Research began coverage on Claros Mortgage Trust in a research report on Friday, July 19th. They set a “neutral” rating for the company. JMP Securities restated a “market perform” rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th. Keefe, Bruyette & Woods cut 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, JPMorgan Chase & Co. lifted their price objective on Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.00.

Claros Mortgage Trust Price Performance

The stock has a market capitalization of $1.06 billion, a PE ratio of -12.61 and a beta of 1.50. 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 company’s 50 day simple moving average is $8.43 and its 200 day simple moving average is $8.66.

Claros Mortgage Trust (NYSE:CMTG) last announced its quarterly earnings data 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 company had revenue of $64.49 million during the quarter, compared to analysts’ expectations of $64.25 million. On average, equities analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.24%. Claros Mortgage Trust’s dividend payout ratio is presently -161.29%.

Institutional Trading of Claros Mortgage Trust

Institutional investors have recently made changes to their positions in the stock. Gladius Capital Management LP purchased a new stake in shares of Claros Mortgage Trust during the 2nd quarter valued at $33,000. Covestor Ltd grew its stake in shares of Claros Mortgage Trust by 349.4% during the 1st quarter. Covestor Ltd now owns 10,897 shares of the company’s stock valued at $106,000 after buying an additional 8,472 shares during the period. SG Americas Securities LLC grew its stake 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 buying an additional 2,651 shares during the period. Simplicity Wealth LLC acquired a new position in shares of Claros Mortgage Trust during the 2nd quarter valued at $121,000. Finally, MQS Management LLC acquired a new position in shares of Claros Mortgage Trust during the 1st quarter valued at $128,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.