Citigroup Inc. cut its stake in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG – Free Report) by 45.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,528 shares of the company’s stock after selling 20,506 shares during the quarter. Citigroup Inc.’s holdings in Claros Mortgage Trust were worth $272,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Deutsche Bank AG increased its holdings in shares of Claros Mortgage Trust by 15.1% during the third quarter. Deutsche Bank AG now owns 44,383 shares of the company’s stock worth $492,000 after buying an additional 5,810 shares in the last quarter. Penserra Capital Management LLC increased its holdings in shares of Claros Mortgage Trust by 14.4% during the third quarter. Penserra Capital Management LLC now owns 44,986 shares of the company’s stock worth $498,000 after buying an additional 5,671 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Claros Mortgage Trust by 20.2% during the third quarter. The Manufacturers Life Insurance Company now owns 44,309 shares of the company’s stock worth $491,000 after buying an additional 7,452 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Claros Mortgage Trust during the third quarter worth $126,000. Finally, Legal & General Group Plc increased its holdings in shares of Claros Mortgage Trust by 20.9% during the third quarter. Legal & General Group Plc now owns 115,565 shares of the company’s stock worth $1,280,000 after buying an additional 19,971 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.
Claros Mortgage Trust Price Performance
CMTG stock opened at $9.45 on Wednesday. The stock has a market capitalization of $1.31 billion, a PE ratio of 472.74 and a beta of 1.58. The company’s 50-day moving average is $10.45 and its 200-day moving average is $11.42. The company has a debt-to-equity ratio of 2.09, a current ratio of 25.03 and a quick ratio of 25.03. Claros Mortgage Trust, Inc. has a 1 year low of $9.06 and a 1 year high of $15.25.
Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.19. The company had revenue of $75.98 million for the quarter, compared to analysts’ expectations of $72.79 million. Claros Mortgage Trust had a net margin of 1.97% and a return on equity of 2.01%. Equities research analysts expect that Claros Mortgage Trust, Inc. will post 0.61 EPS for the current fiscal year.
Claros Mortgage Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.58%. Claros Mortgage Trust’s dividend payout ratio is presently 5,002.50%.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of 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 reduced their price objective on shares of 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 equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, Claros Mortgage Trust has an average rating of “Hold” and an average target price of $10.44.
Check Out Our Latest Report on CMTG
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.
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