Claros Mortgage Trust (NYSE:CMTG) Shares Gap Down to $9.14

Claros Mortgage Trust, Inc. (NYSE:CMTG) gapped down before the market opened on Tuesday . The stock had previously closed at $9.14, but opened at $8.85. Claros Mortgage Trust shares last traded at $8.85, with a volume of 6,911 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CMTG. JPMorgan Chase & Co. decreased their price objective on shares of Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, April 10th. UBS Group dropped their price target on Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods reduced their price objective on Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating for the company in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company dropped their target price on Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday.

Claros Mortgage Trust Price Performance

The firm has a 50 day moving average price of $9.26 and a 200 day moving average price of $10.92. The stock has a market capitalization of $1.16 billion, a PE ratio of -13.44 and a beta of 1.59. The company has a current ratio of 25.03, a quick ratio of 25.03 and a debt-to-equity ratio of 2.09.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.19. Claros Mortgage Trust had a return on equity of 2.01% and a net margin of 1.97%. The business had revenue of $75.98 million during the quarter, compared to analysts’ expectations of $72.79 million. Research analysts anticipate that Claros Mortgage Trust, Inc. will post 0.66 earnings per share for the current year.

Claros Mortgage Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.00%. The ex-dividend date was Wednesday, March 27th. Claros Mortgage Trust’s dividend payout ratio (DPR) is -161.29%.

Institutional Investors Weigh In On Claros Mortgage Trust

Several large investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in Claros Mortgage Trust by 32.2% in the 1st 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. Principal Financial Group Inc. purchased a new position in Claros Mortgage Trust in the 3rd quarter worth about $149,000. ProShare Advisors LLC lifted its holdings in Claros Mortgage Trust by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $159,000 after buying an additional 1,284 shares in the last quarter. Victory Capital Management Inc. boosted its position 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 buying an additional 3,209 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in Claros Mortgage Trust by 90.0% in the 4th quarter. Handelsbanken Fonder AB now owns 24,700 shares of the company’s stock worth $337,000 after acquiring an additional 11,700 shares in the last quarter. Institutional investors 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.