Claros Mortgage Trust (NYSE:CMTG) Stock Rating Lowered by Wells Fargo & Company

Wells Fargo & Company lowered shares of Claros Mortgage Trust (NYSE:CMTG) from an equal weight rating to an underweight rating in a report released on Friday, MarketBeat Ratings reports. The brokerage currently has $8.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the company a neutral rating in a research note on Tuesday, July 16th. 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 note on Monday, August 12th. JMP Securities restated a market perform rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. Finally, BTIG Research assumed coverage on shares of Claros Mortgage Trust in a report on Friday, July 19th. They set a neutral rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $8.75.

Claros Mortgage Trust Price Performance

Shares of CMTG opened at $8.00 on Friday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 28.19 and a current ratio of 28.19. The company has a 50 day moving average price of $8.38 and a 200-day moving average price of $8.56. Claros Mortgage Trust has a fifty-two week low of $6.80 and a fifty-two week high of $15.25. The stock has a market capitalization of $1.11 billion, a PE ratio of -12.90 and a beta of 1.49.

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 business had revenue of $64.49 million for the quarter, compared to analysts’ expectations of $64.25 million. Equities analysts predict that Claros Mortgage Trust will post 0.15 earnings per share 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 5.00%. The ex-dividend date is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio is presently -64.52%.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gladius Capital Management LP purchased a new position in Claros Mortgage Trust during the 2nd quarter worth approximately $33,000. Covestor Ltd lifted 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 valued at $106,000 after purchasing an additional 8,472 shares during the period. SG Americas Securities LLC boosted its holdings in Claros Mortgage Trust by 32.2% in the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock valued at $106,000 after purchasing an additional 2,651 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in Claros Mortgage Trust during the 2nd quarter worth about $121,000. Finally, MQS Management LLC purchased a new position in shares of Claros Mortgage Trust during the 1st quarter valued at about $128,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.