Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 5.1%

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price traded down 5.1% during mid-day trading on Wednesday . The stock traded as low as $7.48 and last traded at $7.50. 162,766 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 324,133 shares. The stock had previously closed at $7.90.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their target price on Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating on the stock in a research report on Monday, August 12th. BTIG Research began coverage on Claros Mortgage Trust in a research report on Friday, July 19th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating and five have given 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 $9.00.

Claros Mortgage Trust Trading Up 1.8 %

The stock has a market cap of $1.08 billion, a P/E ratio of -12.35 and a beta of 1.53. 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 has a 50-day moving average price of $8.44 and a two-hundred day moving average price of $8.71.

Claros Mortgage Trust (NYSE:CMTG) last announced its earnings results 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 positive return on equity of 3.30% and a negative net margin of 35.47%. The company had revenue of $64.49 million for the quarter, compared to analyst estimates of $64.25 million. On average, research analysts expect that Claros Mortgage Trust, Inc. will post 0.15 EPS for the current fiscal year.

Claros Mortgage Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio is presently -64.52%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Gladius Capital Management LP acquired a new stake in Claros Mortgage Trust during the second quarter worth about $33,000. SG Americas Securities LLC boosted its position 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 in the last quarter. Covestor Ltd boosted its position in Claros Mortgage Trust by 349.4% during the first quarter. Covestor Ltd now owns 10,897 shares of the company’s stock worth $106,000 after purchasing an additional 8,472 shares in the last quarter. MQS Management LLC purchased a new position in Claros Mortgage Trust during the first quarter worth approximately $128,000. Finally, Lazard Asset Management LLC purchased a new position in Claros Mortgage Trust during the first quarter worth approximately $140,000. 89.53% of the stock is 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.