Claros Mortgage Trust (NYSE:CMTG) Hits New 1-Year Low - Here's Why

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $6.73 and last traded at $6.74, with a volume of 17519 shares changing hands. The stock had previously closed at $6.89.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMTG. Keefe, Bruyette & Woods reduced their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an "underperform" rating on the stock in a report on Monday, August 12th. JPMorgan Chase & Co. raised their target price on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 16th. BTIG Research began coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a "neutral" rating for the company. JMP Securities restated a "market perform" rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. Finally, Wells Fargo & Company downgraded Claros Mortgage Trust from an "equal weight" rating to an "underweight" rating and set a $8.00 price objective for the company. in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, Claros Mortgage Trust currently has an average rating of "Hold" and an average price target of $8.75.

Claros Mortgage Trust Trading Down 6.8 %

The stock has a market cap of $890.76 million, a P/E ratio of -10.35 and a beta of 1.49. The firm's 50 day simple moving average is $7.98 and its two-hundred day simple moving average is $8.38. The company has a quick ratio of 28.19, a current ratio of 28.19 and a debt-to-equity ratio of 2.12.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, beating the consensus estimate 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 company had revenue of $64.49 million for the quarter, compared to analyst estimates of $64.25 million. As a group, equities research analysts predict that Claros Mortgage Trust, Inc. will post 0.15 earnings per share for the current fiscal year.

Claros Mortgage Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.23%. The ex-dividend date is Monday, September 30th. Claros Mortgage Trust's dividend payout ratio (DPR) is -64.52%.

Hedge Funds Weigh In On Claros Mortgage Trust

Several large investors have recently bought and sold shares of the stock. Waterfall Asset Management LLC bought a new position in shares of Claros Mortgage Trust in the second quarter valued at approximately $4,448,000. Goldman Sachs Group Inc. increased its position in shares of Claros Mortgage Trust by 11,644.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company's stock valued at $199,122,000 after purchasing an additional 14,484,684 shares during the period. ProShare Advisors LLC increased its position in shares of Claros Mortgage Trust by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company's stock valued at $159,000 after purchasing an additional 1,284 shares during the period. SG Americas Securities LLC raised its stake in shares of 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 buying an additional 2,651 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 valued at $155,730,000 after buying an additional 55,256 shares during the period. Institutional investors and hedge funds 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.