Claros Mortgage Trust (NYSE:CMTG) Given New $9.00 Price Target at Wells Fargo & Company

Claros Mortgage Trust (NYSE:CMTG) had its price target decreased by Wells Fargo & Company from $11.00 to $9.00 in a research report released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods lowered their price objective 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, April 10th. UBS Group lowered their price objective 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, JPMorgan Chase & Co. lowered their price objective 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, April 10th.

Claros Mortgage Trust Stock Up 1.3 %

CMTG stock traded up $0.11 during midday trading on Wednesday, reaching $8.33. 396,188 shares of the company were exchanged, compared to its average volume of 303,685. The company has a debt-to-equity ratio of 2.09, a quick ratio of 25.03 and a current ratio of 25.03. Claros Mortgage Trust has a 1-year low of $8.15 and a 1-year high of $15.25. The stock’s 50-day simple moving average is $9.29 and its 200 day simple moving average is $10.94. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -13.35 and a beta of 1.59.

Claros Mortgage Trust (NYSE:CMTG) last announced its earnings results on Tuesday, February 20th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.19. The business 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%. On average, equities analysts forecast that Claros Mortgage Trust will post 0.66 earnings per share for the current year.

Claros Mortgage Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders 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 of this dividend was Wednesday, March 27th. Claros Mortgage Trust’s dividend payout ratio is currently -161.29%.

Institutional Trading of Claros Mortgage Trust

A number of institutional investors have recently modified their holdings of CMTG. SG Americas Securities LLC boosted its holdings 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 acquiring 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 approximately $149,000. ProShare Advisors LLC boosted its holdings in Claros Mortgage Trust by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $159,000 after acquiring an additional 1,284 shares during the period. Victory Capital Management Inc. boosted its holdings 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 worth $237,000 after acquiring an additional 3,209 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings 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 during the period. Hedge funds and other 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.