BTIG Research Begins Coverage on Claros Mortgage Trust (NYSE:CMTG)

BTIG Research started coverage on shares of Claros Mortgage Trust (NYSE:CMTG) in a report released on Friday, Marketbeat reports. The brokerage issued a neutral rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Claros Mortgage Trust from $9.75 to $9.50 and set an underperform rating on the stock in a research report on Wednesday, April 10th. JPMorgan Chase & Co. increased their price target on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the company a neutral rating in a research report on Tuesday, July 16th. JMP Securities reaffirmed a market perform rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Claros Mortgage Trust from $11.00 to $9.00 and set an equal weight rating for the company in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $9.38.

Claros Mortgage Trust Trading Up 0.9 %

NYSE:CMTG opened at $9.01 on Friday. The firm has a 50-day simple moving average of $8.20 and a 200-day simple moving average of $9.46. Claros Mortgage Trust has a one year low of $6.80 and a one year high of $15.25. The firm 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 debt-to-equity ratio of 2.07, a quick ratio of 26.27 and a current ratio of 26.27.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $58.83 million during the quarter, compared to the consensus estimate of $63.64 million. Claros Mortgage Trust had a negative net margin of 28.16% and a positive return on equity of 1.51%. Equities analysts anticipate that Claros Mortgage Trust will post 0.15 EPS for the current fiscal year.

Claros Mortgage Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.10%. The ex-dividend date was Friday, June 28th. Claros Mortgage Trust’s payout ratio is currently -161.29%.

Insiders Place Their Bets

In related news, CEO Richard Mack purchased 116,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average price of $7.18 per share, with a total value of $832,880.00. Following the completion of the acquisition, the chief executive officer now owns 2,551,853 shares in the company, valued at approximately $18,322,304.54. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Claros Mortgage Trust news, CFO Mike Mcgillis bought 15,000 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $7.34 per share, with a total value of $110,100.00. Following the completion of the acquisition, the chief financial officer now directly owns 475,419 shares of the company’s stock, valued at $3,489,575.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard Mack acquired 116,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average cost of $7.18 per share, with a total value of $832,880.00. Following the purchase, the chief executive officer now owns 2,551,853 shares in the company, valued at approximately $18,322,304.54. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 193,000 shares of company stock valued at $1,393,140. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its stake in Claros Mortgage Trust by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $159,000 after buying an additional 1,284 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Claros Mortgage Trust by 0.7% in the first quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock valued at $3,166,000 after purchasing an additional 2,190 shares during the period. SG Americas Securities LLC raised its stake in Claros Mortgage Trust by 32.2% during the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock worth $106,000 after purchasing an additional 2,651 shares during the period. Victory Capital Management Inc. boosted its holdings in Claros Mortgage Trust by 22.7% in the 4th quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock valued at $237,000 after purchasing an additional 3,209 shares during the last quarter. Finally, Gladius Capital Management LP purchased a new stake in shares of Claros Mortgage Trust in the 2nd quarter valued at approximately $33,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.