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

Claros Mortgage Trust (NYSE:CMTG) had its price objective cut by Wells Fargo & Company from $11.00 to $9.00 in a report issued on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased 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. UBS Group reduced 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 reduced 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, April 10th.

Claros Mortgage Trust Trading Up 1.3 %

Claros Mortgage Trust stock traded up $0.11 during mid-day trading on Wednesday, hitting $8.33. The company’s stock had a trading volume of 396,188 shares, compared to its average volume of 303,685. The company has a debt-to-equity ratio of 2.09, a current ratio of 25.03 and a quick ratio of 25.03. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -13.35 and a beta of 1.59. The business has a 50 day moving average price of $9.29 and a 200-day moving average price of $10.94. Claros Mortgage Trust has a 12 month low of $8.15 and a 12 month high of $15.25.

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

Claros Mortgage Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 12.00%. The ex-dividend date of this dividend was Wednesday, March 27th. Claros Mortgage Trust’s payout ratio is currently -161.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in shares of Claros Mortgage Trust by 11,644.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock worth $199,122,000 after buying an additional 14,484,684 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Claros Mortgage Trust by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock worth $155,730,000 after buying an additional 55,256 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Claros Mortgage Trust by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock worth $11,874,000 after buying an additional 13,165 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Claros Mortgage Trust by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 393,169 shares of the company’s stock worth $4,356,000 after buying an additional 15,895 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Claros Mortgage Trust by 0.7% in the first quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock worth $3,166,000 after buying an additional 2,190 shares in the last quarter. 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.