JPMorgan Chase & Co. Cuts Claros Mortgage Trust (NYSE:CMTG) Price Target to $6.50

Claros Mortgage Trust (NYSE:CMTG - Free Report) had its target price cut by JPMorgan Chase & Co. from $9.00 to $6.50 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also recently weighed in on CMTG. Keefe, Bruyette & Woods dropped 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. Wells Fargo & Company downgraded Claros Mortgage Trust from an "equal weight" rating to an "underweight" rating and set a $8.00 price objective on the stock. in a research note on Friday, September 20th. Finally, BTIG Research began coverage on Claros Mortgage Trust in a research report on Friday, July 19th. They issued a "neutral" rating for the company. Two equities research 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 has an average rating of "Hold" and an average target price of $8.13.

Claros Mortgage Trust Stock Performance

Claros Mortgage Trust stock traded down $0.14 during mid-day trading on Thursday, reaching $6.35. 522,676 shares of the company's stock were exchanged, compared to its average volume of 342,679. The business's fifty day simple moving average is $7.59 and its 200 day simple moving average is $8.23. 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 has a one year low of $6.08 and a one year high of $15.25. The firm has a market capitalization of $881.04 million, a PE ratio of -10.18 and a beta of 1.49.

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

Claros Mortgage Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.30%. The ex-dividend date was Monday, September 30th. Claros Mortgage Trust's payout ratio is currently -64.52%.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of large investors have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new position in Claros Mortgage Trust in the 2nd quarter worth about $33,000. Covestor Ltd boosted its position in shares of Claros Mortgage Trust by 349.4% in the first quarter. Covestor Ltd now owns 10,897 shares of the company's stock valued at $106,000 after acquiring an additional 8,472 shares during the period. SG Americas Securities LLC grew its stake in Claros Mortgage Trust by 32.2% during the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company's stock valued at $106,000 after acquiring an additional 2,651 shares in the last quarter. Simplicity Wealth LLC bought a new stake in Claros Mortgage Trust during the 2nd quarter worth approximately $121,000. Finally, MQS Management LLC purchased a new stake in Claros Mortgage Trust in the 1st quarter worth approximately $128,000. 89.53% of the stock is owned by institutional investors.

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.