California State Teachers Retirement System reduced its position in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG – Free Report) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,939 shares of the company’s stock after selling 4,565 shares during the period. California State Teachers Retirement System owned about 0.08% of Claros Mortgage Trust worth $1,063,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Claros Mortgage Trust by 9.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 81,059 shares of the company’s stock valued at $792,000 after buying an additional 7,062 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Claros Mortgage Trust during the 1st quarter worth about $140,000. MQS Management LLC purchased a new stake in Claros Mortgage Trust during the first quarter worth approximately $128,000. Covestor Ltd lifted its position in shares of Claros Mortgage Trust by 349.4% during the 1st quarter. Covestor Ltd now owns 10,897 shares of the company’s stock worth $106,000 after buying an additional 8,472 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Claros Mortgage Trust by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock valued at $111,810,000 after buying an additional 30,377 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CMTG has been the subject of a number of research reports. JMP Securities reissued a “market perform” rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th. Keefe, Bruyette & Woods decreased their price target on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating for the company in a research note on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Wells Fargo & Company reduced their price objective on Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 8th. Finally, BTIG Research assumed coverage on Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.00.
View Our Latest Stock Analysis on Claros Mortgage Trust
Insider Activity at Claros Mortgage Trust
In related news, Director W Edward Walter purchased 7,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $7.21 per share, with a total value of $50,470.00. Following the purchase, the director now directly owns 13,760 shares in the company, valued at approximately $99,209.60. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director W Edward Walter purchased 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average price of $7.21 per share, with a total value of $50,470.00. Following the purchase, the director now directly owns 13,760 shares of the company’s stock, valued at $99,209.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard Mack acquired 116,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $7.18 per share, with a total value of $832,880.00. Following the completion of the purchase, the chief executive officer now directly owns 2,551,853 shares in the company, valued at $18,322,304.54. The disclosure for this purchase can be found here. Insiders have acquired a total of 193,000 shares of company stock worth $1,393,140 over the last three months. 1.40% of the stock is currently owned by corporate insiders.
Claros Mortgage Trust Price Performance
Shares of NYSE:CMTG opened at $7.80 on Wednesday. Claros Mortgage Trust, Inc. has a 52 week low of $6.80 and a 52 week high of $15.25. The company has a 50-day moving average price of $8.54 and a 200 day moving average price of $9.06. The company has a market cap of $1.08 billion, a P/E ratio of -12.56 and a beta of 1.53. The company has a quick ratio of 26.27, a current ratio of 26.27 and a debt-to-equity ratio of 2.07.
Claros Mortgage Trust Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.13%. Claros Mortgage Trust’s dividend payout ratio is currently -64.52%.
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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