Levin Capital Strategies L.P. Buys 40,000 Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG)

Levin Capital Strategies L.P. boosted its position in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) by 400.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,000 shares of the company’s stock after purchasing an additional 40,000 shares during the period. Levin Capital Strategies L.P.’s holdings in Claros Mortgage Trust were worth $401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in Claros Mortgage Trust by 11,644.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock valued at $199,122,000 after buying an additional 14,484,684 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Claros Mortgage Trust by 0.3% in the first quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock worth $111,810,000 after purchasing an additional 30,377 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Claros Mortgage Trust by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock worth $11,874,000 after purchasing an additional 13,165 shares during the last quarter. Bank of New York Mellon Corp grew its position in Claros Mortgage Trust by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock valued at $3,278,000 after purchasing an additional 36,911 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Claros Mortgage Trust by 0.7% in the 1st quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock valued at $3,166,000 after buying an additional 2,190 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Performance

CMTG opened at $7.75 on Tuesday. The company has a quick ratio of 28.19, a current ratio of 28.19 and a debt-to-equity ratio of 2.12. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -12.50 and a beta of 1.50. Claros Mortgage Trust, Inc. has a 12-month low of $6.80 and a 12-month high of $15.25. The business has a 50 day moving average of $8.43 and a 200-day moving average of $8.66.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings data on Monday, August 5th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.10. Claros Mortgage Trust had a negative net margin of 35.47% and a positive return on equity of 3.30%. The firm had revenue of $64.49 million during the quarter, compared to analysts’ expectations of $64.25 million. On average, equities research analysts expect that Claros Mortgage Trust, Inc. will post 0.15 earnings per share for the current year.

Claros Mortgage Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.10 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 5.16%. Claros Mortgage Trust’s dividend payout ratio (DPR) is currently -161.29%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CMTG shares. Keefe, Bruyette & Woods decreased their price objective on Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating for the company in a report on Monday, August 12th. BTIG Research initiated coverage on Claros Mortgage Trust in a research report on Friday, July 19th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. increased their price objective on Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Finally, JMP Securities reissued a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.00.

Claros Mortgage Trust 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.