JPMorgan Chase & Co. Trims Claros Mortgage Trust (NYSE:CMTG) Target Price to $9.50

by · The Markets Daily

Claros Mortgage Trust (NYSE:CMTG – Free Report) had its target price lowered by JPMorgan Chase & Co. from $11.00 to $9.50 in a research note published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

CMTG has been the topic of a number of other research reports. UBS Group cut their price target on Claros Mortgage Trust from $11.50 to $10.00 and set a neutral rating on the stock in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods cut their price target on Claros Mortgage Trust from $10.75 to $9.75 and set an underperform rating on the stock in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, Claros Mortgage Trust currently has a consensus rating of Hold and an average price target of $10.00.

Get Our Latest Research Report on Claros Mortgage Trust

Claros Mortgage Trust Stock Performance

CMTG stock opened at $8.68 on Wednesday. The business’s fifty day moving average is $9.68 and its 200-day moving average is $11.24. The company has a quick ratio of 25.03, a current ratio of 25.03 and a debt-to-equity ratio of 2.09. The company has a market cap of $1.20 billion, a P/E ratio of 434.22 and a beta of 1.58. Claros Mortgage Trust has a twelve month low of $8.37 and a twelve month high of $15.25.

Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last posted its quarterly 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. The company had revenue of $75.98 million for the quarter, compared to the consensus estimate of $72.79 million. Claros Mortgage Trust had a return on equity of 2.01% and a net margin of 1.97%. Equities research analysts forecast that Claros Mortgage Trust will post 0.66 EPS for the current year.

Claros Mortgage Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 11.52%. Claros Mortgage Trust’s dividend payout ratio is presently 5,002.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its holdings in Claros Mortgage Trust by 1.6% during the fourth quarter. Deutsche Bank AG now owns 39,260 shares of the company’s stock worth $578,000 after acquiring an additional 614 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Claros Mortgage Trust by 36.2% in the fourth quarter. Citigroup Inc. now owns 2,531 shares of the company’s stock valued at $37,000 after purchasing an additional 673 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Claros Mortgage Trust by 9.1% in the second quarter. ProShare Advisors LLC now owns 11,811 shares of the company’s stock valued at $134,000 after purchasing an additional 983 shares in the last quarter. FMR LLC lifted its holdings in shares of Claros Mortgage Trust by 97.8% in the third quarter. FMR LLC now owns 2,742 shares of the company’s stock valued at $30,000 after purchasing an additional 1,356 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Claros Mortgage Trust by 204.5% in the first 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 in the last quarter. 89.53% of the stock is currently owned by institutional investors.

Claros Mortgage Trust Company Profile

(Get Free Report)

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