Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 8.6%

Claros Mortgage Trust, Inc. (NYSE:CMTGGet Rating)’s stock price was down 8.6% on Wednesday . The company traded as low as $16.88 and last traded at $16.88. Approximately 10,775 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 288,393 shares. The stock had previously closed at $18.46.

A number of equities analysts recently weighed in on CMTG shares. UBS Group boosted their price target on shares of Claros Mortgage Trust to $19.00 and gave the stock a “na” rating in a report on Tuesday, May 17th. JPMorgan Chase & Co. downgraded shares of Claros Mortgage Trust from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $18.00 to $19.00 in a report on Monday, April 25th. Finally, Wells Fargo & Company lowered their price objective on Claros Mortgage Trust to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 18th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.40.

The stock has a 50 day moving average of $19.19 and a 200-day moving average of $17.96. The company has a quick ratio of 51.84, a current ratio of 51.83 and a debt-to-equity ratio of 1.96.

Claros Mortgage Trust (NYSE:CMTGGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.07). The firm had revenue of $57.93 million during the quarter. On average, equities analysts anticipate that Claros Mortgage Trust, Inc. will post 1.53 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 8.87%. The ex-dividend date is Wednesday, June 29th.

Several institutional investors and hedge funds have recently made changes to their positions in CMTG. JPMorgan Chase & Co. bought a new position in shares of Claros Mortgage Trust in the first quarter worth approximately $104,000. Bank of America Corp DE bought a new position in shares of Claros Mortgage Trust in the first quarter worth approximately $137,000. Sandia Investment Management LP bought a new position in shares of Claros Mortgage Trust in the fourth quarter worth approximately $246,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Claros Mortgage Trust in the first quarter worth approximately $251,000. Finally, Cannon Global Investment Management LLC bought a new position in shares of Claros Mortgage Trust in the first quarter worth approximately $310,000. Hedge funds and other institutional investors own 54.78% of the company’s stock.

Claros Mortgage Trust Company Profile (NYSE:CMTG)

Claros Mortgage Trust, Inc is a real estate investment trust that focuses primarily on originating senior and subordinate loans on transitional commercial real estate assets located in principal markets across the United States. The company is qualified as a real estate investment trust (REIT) under the Internal Revenue Code.

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