Claros Mortgage Trust, Inc. (NYSE:CMTG – Get Free Report) shares fell 4.3% during trading on Monday after Keefe, Bruyette & Woods lowered their price target on the stock from $8.50 to $8.00. Keefe, Bruyette & Woods currently has an underperform rating on the stock. Claros Mortgage Trust traded as low as $7.83 and last traded at $7.85. 24,037 shares traded hands during trading, a decline of 93% from the average session volume of 328,745 shares. The stock had previously closed at $8.20.
CMTG has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. JMP Securities reissued a “market perform” rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. BTIG Research initiated coverage on Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company decreased their price target on Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.00.
Read Our Latest Report on CMTG
Insider Activity
In related news, insider Jeffrey D. Siegel acquired 5,000 shares of Claros Mortgage Trust stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $7.23 per share, for a total transaction of $36,150.00. Following the completion of the transaction, the insider now directly owns 167,242 shares of the company’s stock, valued at $1,209,159.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Claros Mortgage Trust news, insider Jeffrey D. Siegel bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $7.23 per share, for a total transaction of $36,150.00. Following the completion of the purchase, the insider now owns 167,242 shares of the company’s stock, valued at approximately $1,209,159.66. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mike Mcgillis purchased 15,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $7.34 per share, with a total value of $110,100.00. Following the completion of the purchase, the chief financial officer now directly owns 475,419 shares of the company’s stock, valued at $3,489,575.46. The disclosure for this purchase can be found here. Insiders have purchased 193,000 shares of company stock worth $1,393,140 over the last three months. 1.40% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. ProShare Advisors LLC raised its position in shares of Claros Mortgage Trust by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $159,000 after purchasing an additional 1,284 shares during the period. Van ECK Associates Corp raised its position in shares of Claros Mortgage Trust by 0.7% during the 1st quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock worth $3,166,000 after purchasing an additional 2,190 shares during the period. SG Americas Securities LLC raised its position in shares of Claros Mortgage Trust by 32.2% during 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. Victory Capital Management Inc. raised its position in shares of Claros Mortgage Trust by 22.7% during the 4th quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock worth $237,000 after purchasing an additional 3,209 shares during the period. Finally, Gladius Capital Management LP acquired a new stake in shares of Claros Mortgage Trust during the 2nd quarter worth approximately $33,000. Institutional investors own 89.53% of the company’s stock.
Claros Mortgage Trust Price Performance
The company has a current ratio of 26.27, a quick ratio of 26.27 and a debt-to-equity ratio of 2.07. The business has a 50-day moving average price of $8.54 and a two-hundred day moving average price of $9.06. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -12.23 and a beta of 1.53.
Claros Mortgage Trust Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio is currently -64.52%.
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.
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