Claros Mortgage Trust, Inc. (NYSE:CMTG – Get Free Report)’s stock price dropped 4.3% 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. Approximately 24,037 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 328,745 shares. The stock had previously closed at $8.20.
Several other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. boosted their price target on Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. JMP Securities reiterated a “market perform” rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th. BTIG Research assumed coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company cut their price objective on Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, Claros Mortgage Trust has an average rating of “Hold” and an average price target of $9.00.
Insider Buying and Selling at Claros Mortgage Trust
In related news, Director W Edward Walter bought 7,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average price of $7.21 per share, for a total transaction of $50,470.00. Following the completion of the purchase, the director now directly owns 13,760 shares of the company’s stock, valued at $99,209.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Mike Mcgillis bought 15,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $7.34 per share, with a total value of $110,100.00. Following the purchase, the chief financial officer now directly owns 475,419 shares of the company’s stock, valued at $3,489,575.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director W Edward Walter bought 7,000 shares of Claros Mortgage Trust stock in a transaction on Tuesday, May 28th. The shares were purchased at an average cost of $7.21 per share, for a total transaction of $50,470.00. Following the completion of the purchase, the director now directly owns 13,760 shares of the company’s stock, valued at $99,209.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 193,000 shares of company stock worth $1,393,140. 1.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Gladius Capital Management LP purchased a new stake in shares of Claros Mortgage Trust during the second quarter worth approximately $33,000. SG Americas Securities LLC raised its holdings in Claros Mortgage Trust by 32.2% during the first 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 in the last quarter. Covestor Ltd lifted its holdings in shares of Claros Mortgage Trust by 349.4% in the 1st quarter. Covestor Ltd now owns 10,897 shares of the company’s stock valued at $106,000 after buying an additional 8,472 shares during the period. MQS Management LLC acquired a new position in shares of Claros Mortgage Trust during the 1st quarter worth $128,000. Finally, Lazard Asset Management LLC purchased a new position in Claros Mortgage Trust in the first quarter valued at about $140,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.
Claros Mortgage Trust Stock Down 7.6 %
The stock has a market capitalization of $1.05 billion, a PE ratio of -12.23 and a beta of 1.53. 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 firm has a 50 day moving average of $8.54 and a two-hundred day moving average of $9.06.
Claros Mortgage Trust Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a yield of 5.28%. Claros Mortgage Trust’s 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.