Claros Mortgage Trust (NYSE:CMTG) Hits New 52-Week Low - Here's Why

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. BTIG Research started coverage on Claros Mortgage Trust in a report on Friday, July 19th. They set a "neutral" rating for the company. Wells Fargo & Company lowered 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 note on Friday, September 20th. Keefe, Bruyette & Woods decreased 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 research note on Monday, August 12th. Finally, JPMorgan Chase & Co. increased 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. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, Claros Mortgage Trust presently has an average rating of "Hold" and an average target price of $8.75.

Claros Mortgage Trust Stock Up 1.8 %

The company has a 50 day moving average price of $7.73 and a 200-day moving average price of $8.29. The stock has a market capitalization of $872.72 million, a PE ratio of -10.16 and a beta of 1.49. The company has a debt-to-equity ratio of 2.12, a current ratio of 28.19 and a quick ratio of 28.19.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last posted its earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, topping 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 firm had revenue of $64.49 million during the quarter, compared to analysts' expectations of $64.25 million. As a group, analysts forecast that Claros Mortgage Trust, Inc. will post 0.15 earnings per share for the current fiscal year.

Claros Mortgage Trust Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.36%. Claros Mortgage Trust's dividend payout ratio (DPR) is -64.52%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CMTG. Waterfall Asset Management LLC bought a new position in shares of Claros Mortgage Trust during the second quarter valued at approximately $4,448,000. Vanguard Group Inc. increased its holdings in shares of Claros Mortgage Trust by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company's stock valued at $155,730,000 after acquiring an additional 55,256 shares in the last quarter. Levin Capital Strategies L.P. raised its position in shares of 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 worth $401,000 after purchasing an additional 40,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Claros Mortgage Trust by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company's stock worth $3,278,000 after purchasing an additional 36,911 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Claros Mortgage Trust during the 2nd quarter valued at about $224,000. Hedge funds and other institutional investors own 89.53% of the company's stock.

Claros Mortgage Trust Company 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.