Claros Mortgage Trust, Inc. (NYSE:CMTG – Get Free Report) declared a quarterly dividend on Thursday, December 14th, NASDAQ reports. Shareholders of record on Friday, December 29th will be paid a dividend of 0.25 per share on Friday, January 12th. This represents a $1.00 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date is Thursday, December 28th.

Claros Mortgage Trust has a payout ratio of 94.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Claros Mortgage Trust to earn $0.54 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 185.2%.

Claros Mortgage Trust Stock Up 0.9 %

Shares of NYSE:CMTG traded up $0.13 during midday trading on Friday, reaching $14.54. 3,666,137 shares of the company were exchanged, compared to its average volume of 270,060. The firm has a market cap of $2.02 billion, a PE ratio of -37.28 and a beta of 1.72. Claros Mortgage Trust has a fifty-two week low of $9.60 and a fifty-two week high of $16.98. The stock has a fifty day simple moving average of $11.58 and a two-hundred day simple moving average of $11.40. The company has a quick ratio of 31.67, a current ratio of 31.67 and a debt-to-equity ratio of 2.10.

Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last issued its quarterly earnings results on Tuesday, October 31st. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.29). Claros Mortgage Trust had a negative net margin of 16.13% and a positive return on equity of 2.37%. The firm had revenue of $80.55 million during the quarter, compared to the consensus estimate of $74.53 million. As a group, sell-side analysts forecast that Claros Mortgage Trust will post 0.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Claros Mortgage Trust from $11.50 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, November 2nd. Keefe, Bruyette & Woods lowered their target price on Claros Mortgage Trust from $11.00 to $10.00 in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $13.50.

Read Our Latest Analysis on Claros Mortgage Trust

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of CMTG. Vanguard Group Inc. increased its position in Claros Mortgage Trust by 176.7% during the third quarter. Vanguard Group Inc. now owns 10,851,780 shares of the company’s stock worth $127,399,000 after buying an additional 6,930,200 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Claros Mortgage Trust by 2.1% during the 2nd quarter. BlackRock Inc. now owns 8,220,860 shares of the company’s stock worth $93,225,000 after acquiring an additional 171,729 shares during the last quarter. Geode Capital Management LLC raised its stake in Claros Mortgage Trust by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,097,243 shares of the company’s stock valued at $23,783,000 after acquiring an additional 134,637 shares during the period. State Street Corp lifted its holdings in Claros Mortgage Trust by 1.4% during the 2nd quarter. State Street Corp now owns 1,966,032 shares of the company’s stock valued at $23,018,000 after purchasing an additional 26,227 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Claros Mortgage Trust by 2.6% during the third quarter. Northern Trust Corp now owns 897,647 shares of the company’s stock worth $9,946,000 after purchasing an additional 22,381 shares during the period. 71.57% of the stock is owned by institutional investors.

About Claros Mortgage Trust (Get Free Report)

Claros Mortgage Trust, Inc operates as a real estate investment trust. The company focuses on originating senior and subordinate loans on transitional commercial real estate assets in the United States. Claros Mortgage Trust, Inc was incorporated in 2015 and is headquartered in New York, New York.

Further Reading

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Original: MarketBeat News Feed: Claros Mortgage Trust, Inc. Announces Quarterly Dividend of $0.25 (NYSE:CMTG)