Claros Mortgage Trust (NYSE:CMTG) Sets New 12-Month Low – Should You Sell?

Claros Mortgage Trust, Inc. (NYSE:CMTG) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $6.08 and last traded at $6.11, with a volume of 11473 shares traded. The stock had previously closed at $6.18.

Analyst Upgrades and Downgrades

CMTG has been the subject of several analyst reports. BTIG Research initiated coverage on Claros Mortgage Trust in a report on Friday, July 19th. They set a “neutral” rating for the company. Wells Fargo & Company downgraded shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research report on Friday, September 20th. JPMorgan Chase & Co. upped their price target on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods decreased their target price on Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.75.

Claros Mortgage Trust Stock Up 0.4 %

The business’s 50 day simple moving average is $7.64 and its 200-day simple moving average is $8.24. The company has a debt-to-equity ratio of 2.12, a quick ratio of 28.19 and a current ratio of 28.19. The company has a market cap of $876.19 million, a price-to-earnings ratio of -10.19 and a beta of 1.49.

Claros Mortgage Trust (NYSE:CMTG) last issued its earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.10. Claros Mortgage Trust had a positive return on equity of 3.30% and a negative net margin of 35.47%. The firm had revenue of $64.49 million for the quarter, compared to the consensus estimate of $64.25 million. Sell-side analysts expect that Claros Mortgage Trust, Inc. will post 0.15 earnings per share for the current year.

Claros Mortgage Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date was Monday, September 30th. Claros Mortgage Trust’s dividend payout ratio (DPR) is presently -64.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Claros Mortgage Trust during the 3rd quarter worth about $150,000. Waterfall Asset Management LLC bought a new stake in Claros Mortgage Trust during the second quarter worth approximately $4,448,000. Algert Global LLC acquired a new position in Claros Mortgage Trust during the second quarter valued at approximately $224,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Claros Mortgage Trust by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock worth $369,000 after buying an additional 2,885 shares during the period. Finally, Levin Capital Strategies L.P. grew its stake in Claros Mortgage Trust by 400.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 50,000 shares of the company’s stock valued at $401,000 after buying an additional 40,000 shares during 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.