Mirae Asset Global Investments Co. Ltd. cut its position in Claros Mortgage Trust, Inc. (NYSE:CMTG – Free Report) by 13.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 577,878 shares of the company’s stock after selling 89,266 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.42% of Claros Mortgage Trust worth $7,876,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Claros Mortgage Trust by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 11,370,271 shares of the company’s stock valued at $125,983,000 after purchasing an additional 91,413 shares during the last quarter. BlackRock Inc. lifted its position in Claros Mortgage Trust by 2.1% in the 2nd quarter. BlackRock Inc. now owns 8,220,860 shares of the company’s stock valued at $93,225,000 after purchasing an additional 171,729 shares during the last quarter. Geode Capital Management LLC lifted its position in Claros Mortgage Trust by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,097,243 shares of the company’s stock valued at $23,783,000 after purchasing an additional 134,637 shares during the last quarter. State Street Corp raised its position in shares of Claros Mortgage Trust by 1.4% during the 2nd quarter. State Street Corp now owns 1,966,032 shares of the company’s stock worth $23,018,000 after buying an additional 26,227 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Claros Mortgage Trust by 2.6% during the 3rd quarter. Northern Trust Corp now owns 897,647 shares of the company’s stock worth $9,946,000 after buying an additional 22,381 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on CMTG. JPMorgan Chase & Co. dropped their price target on shares of Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday. UBS Group dropped their price target on shares of Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.00.
Check Out Our Latest Stock Analysis on CMTG
Claros Mortgage Trust Stock Performance
Shares of CMTG opened at $8.68 on Friday. The firm’s 50 day moving average is $9.68 and its 200-day moving average is $11.24. The stock has a market capitalization of $1.20 billion, a P/E ratio of 434.22 and a beta of 1.58. 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, Inc. has a 12-month low of $8.37 and a 12-month high of $15.25.
Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.19. The company had revenue of $75.98 million for the quarter, compared to analysts’ expectations of $72.79 million. Claros Mortgage Trust had a net margin of 1.97% and a return on equity of 2.01%. Equities research analysts anticipate that Claros Mortgage Trust, Inc. will post 0.66 EPS for the current fiscal year.
Claros Mortgage Trust Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 11.52%. The ex-dividend date is Wednesday, March 27th. Claros Mortgage Trust’s dividend payout ratio (DPR) is currently 5,002.50%.
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.
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