Claros Mortgage Trust, Inc. (NYSE:CMTG – Get Free Report) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 3,850,000 shares, an increase of 5.5% from the February 29th total of 3,650,000 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 312,600 shares, the days-to-cover ratio is currently 12.3 days.
Analysts Set New Price Targets
Several equities analysts recently commented on CMTG shares. Keefe, Bruyette & Woods reduced their target price on Claros Mortgage Trust from $10.75 to $9.75 and set an “underperform” rating for the company in a research report on Friday, February 23rd. UBS Group cut their price objective on Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.44.
View Our Latest Research Report on CMTG
Institutional Investors Weigh In On Claros Mortgage Trust
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in Claros Mortgage Trust by 200.4% during the 1st quarter. FMR LLC now owns 2,154 shares of the company’s stock valued at $25,000 after purchasing an additional 1,437 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Claros Mortgage Trust by 204.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,521 shares of the company’s stock valued at $29,000 after purchasing an additional 1,693 shares during the last quarter. Citigroup Inc. raised its position in Claros Mortgage Trust by 36.2% during the 4th quarter. Citigroup Inc. now owns 2,531 shares of the company’s stock valued at $37,000 after purchasing an additional 673 shares during the last quarter. Quantbot Technologies LP bought a new position in Claros Mortgage Trust during the 2nd quarter valued at approximately $49,000. Finally, JPMorgan Chase & Co. bought a new position in Claros Mortgage Trust during the 1st quarter valued at approximately $104,000. Institutional investors own 89.53% of the company’s stock.
Claros Mortgage Trust Trading Down 2.4 %
NYSE CMTG opened at $9.34 on Wednesday. Claros Mortgage Trust has a 1-year low of $9.06 and a 1-year high of $15.25. The company has a current ratio of 25.03, a quick ratio of 25.03 and a debt-to-equity ratio of 2.09. The stock has a 50-day moving average of $10.17 and a 200-day moving average of $11.36. The firm has a market cap of $1.30 billion, a PE ratio of 467.23 and a beta of 1.58.
Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.19. Claros Mortgage Trust had a return on equity of 2.01% and a net margin of 1.97%. The company had revenue of $75.98 million during the quarter, compared to analyst estimates of $72.79 million. As a group, sell-side analysts forecast that Claros Mortgage Trust will post 0.61 EPS for the current year.
Claros Mortgage Trust Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.71%. The ex-dividend date of this dividend is Wednesday, March 27th. Claros Mortgage Trust’s dividend payout ratio (DPR) is presently 5,002.50%.
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.
Further Reading
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