Claros Mortgage Trust, Inc. Declares Quarterly Dividend of $0.10 (NYSE:CMTG)

Claros Mortgage Trust, Inc. (NYSE:CMTG) announced a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Shareholders of record on Monday, September 30th will be paid a dividend of 0.10 per share on Tuesday, October 15th. This represents a $0.40 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Monday, September 30th.

Claros Mortgage Trust has a payout ratio of 142.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Claros Mortgage Trust to earn $0.42 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 238.1%.

Claros Mortgage Trust Stock Performance

Shares of Claros Mortgage Trust stock traded down $0.14 on Tuesday, reaching $8.58. 331,394 shares of the stock were exchanged, compared to its average volume of 327,947. Claros Mortgage Trust has a twelve month low of $6.80 and a twelve month high of $15.25. The business has a 50 day moving average price of $8.44 and a two-hundred day moving average price of $9.23. The company has a quick ratio of 26.27, a current ratio of 26.27 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -13.50 and a beta of 1.53.

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

Insider Activity

In other Claros Mortgage Trust news, Director Vincent Tese acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $7.26 per share, for a total transaction of $36,300.00. Following the completion of the acquisition, the director now owns 6,000 shares of the company’s stock, valued at approximately $43,560. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Richard Mack acquired 116,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of $7.18 per share, for a total transaction of $832,880.00. Following the purchase, the chief executive officer now owns 2,551,853 shares of the company’s stock, valued at approximately $18,322,304.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Vincent Tese bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of $7.26 per share, for a total transaction of $36,300.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $43,560. The disclosure for this purchase can be found here. Insiders acquired 193,000 shares of company stock worth $1,393,140 over the last three months. Insiders own 1.40% of the company’s stock.

Wall Street Analyst Weigh In

CMTG has been the subject of several recent research reports. JMP Securities reiterated a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. JPMorgan Chase & Co. upped their price objective on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Wells Fargo & Company cut their price target on 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. BTIG Research initiated coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating on the stock. Finally, Keefe, Bruyette & Woods reduced their target price on Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, Claros Mortgage Trust presently has an average rating of “Hold” and a consensus price target of $9.38.

Claros Mortgage Trust Company Profile

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.