Claros Mortgage Trust, Inc. Plans Quarterly Dividend of $0.25 (NYSE:CMTG)

Claros Mortgage Trust, Inc. (NYSE:CMTG) announced a quarterly dividend on Tuesday, September 19th, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be paid a dividend of 0.25 per share on Friday, October 13th. This represents a $1.00 annualized dividend and a yield of 8.71%. The ex-dividend date of this dividend is Thursday, September 28th.

Claros Mortgage Trust Price Performance

Shares of NYSE:CMTG traded up $0.03 during trading on Tuesday, reaching $11.48. 129,639 shares of the company’s stock traded hands, compared to its average volume of 265,217. Claros Mortgage Trust has a fifty-two week low of $10.08 and a fifty-two week high of $18.15. The company has a quick ratio of 35.27, a current ratio of 35.27 and a debt-to-equity ratio of 2.10. The firm has a market cap of $1.59 billion, a PE ratio of 27.93 and a beta of 1.76. The company has a 50-day simple moving average of $11.46 and a 200-day simple moving average of $11.43.

Claros Mortgage Trust (NYSE:CMTG) last posted its quarterly earnings data on Tuesday, August 1st. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.40). Claros Mortgage Trust had a return on equity of 5.15% and a net margin of 19.46%. The firm had revenue of $80.93 million for the quarter, compared to analysts’ expectations of $80.99 million. As a group, analysts predict that Claros Mortgage Trust will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of hedge funds have recently added to or reduced their stakes in CMTG. Vanguard Group Inc. lifted its position in shares of Claros Mortgage Trust by 176.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,851,780 shares of the company’s stock valued at $127,399,000 after acquiring an additional 6,930,200 shares during the period. State Street Corp acquired a new stake in shares of Claros Mortgage Trust during the 2nd quarter valued at approximately $19,780,000. BlackRock Inc. lifted its position in shares of Claros Mortgage Trust by 12.0% during the 3rd quarter. BlackRock Inc. now owns 7,572,721 shares of the company’s stock valued at $88,904,000 after acquiring an additional 812,501 shares during the period. Balyasny Asset Management LLC acquired a new stake in shares of Claros Mortgage Trust during the 3rd quarter valued at approximately $4,662,000. Finally, Nuveen Asset Management LLC increased its stake in shares of Claros Mortgage Trust by 59.9% during the 3rd quarter. Nuveen Asset Management LLC now owns 526,845 shares of the company’s stock worth $6,185,000 after purchasing an additional 197,461 shares in the last quarter. Institutional investors and hedge funds own 71.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CMTG shares. JPMorgan Chase & Co. upgraded Claros Mortgage Trust from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $11.50 to $12.00 in a report on Monday, July 24th. Keefe, Bruyette & Woods decreased their price target on Claros Mortgage Trust from $11.00 to $10.00 in a research note on Wednesday, August 30th. Finally, Wells Fargo & Company cut Claros Mortgage Trust from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $13.00 to $11.00 in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.70.

About Claros Mortgage Trust

Claros Mortgage Trust, Inc operates as a real estate investment trust. The company focuses on originating senior and subordinate loans on transitional commercial real estate assets in the United States. Claros Mortgage Trust, Inc was incorporated in 2015 and is headquartered in New York, New York.