Claros Mortgage Trust (NYSE:CMTG) Price Target Cut to $9.50 by Analysts at Keefe, Bruyette & Woods

Claros Mortgage Trust (NYSE:CMTG) had its target price lowered by Keefe, Bruyette & Woods from $9.75 to $9.50 in a research note issued to investors on Wednesday, Benzinga reports. Keefe, Bruyette & Woods currently has an underperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut their price target on Claros Mortgage Trust from $11.00 to $9.50 and set a neutral rating for the company in a report on Wednesday. UBS Group lowered their price objective on Claros Mortgage Trust from $11.50 to $10.00 and set a neutral rating for the company in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $10.00.

Claros Mortgage Trust Stock Performance

NYSE CMTG opened at $8.68 on Wednesday. The stock has a market capitalization of $1.20 billion, a PE ratio of 434.22 and a beta of 1.58. The business has a 50 day simple moving average of $9.68 and a two-hundred day simple moving average of $11.24. The company has a debt-to-equity ratio of 2.09, a current ratio of 25.03 and a quick ratio of 25.03. Claros Mortgage Trust has a 1-year low of $8.37 and a 1-year high of $15.25.

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

Claros Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.52%. The ex-dividend date of this dividend is Wednesday, March 27th. Claros Mortgage Trust’s payout ratio is 5,002.50%.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Claros Mortgage Trust by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock worth $155,730,000 after acquiring an additional 55,256 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Claros Mortgage Trust by 11,644.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock worth $199,122,000 after acquiring an additional 14,484,684 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Claros Mortgage Trust by 6.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,997 shares of the company’s stock worth $1,009,000 after acquiring an additional 4,786 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Claros Mortgage Trust by 4.5% during the 4th quarter. Legal & General Group Plc now owns 120,734 shares of the company’s stock worth $1,646,000 after acquiring an additional 5,169 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Claros Mortgage Trust by 301.9% during the 4th quarter. Barclays PLC now owns 146,352 shares of the company’s stock worth $1,995,000 after acquiring an additional 109,934 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

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.