Claros Mortgage Trust (NYSE:CMTG) Releases Earnings Results, Misses Estimates By $0.03 EPS

February 19, 2023

Claros Mortgage Trust (NYSE:CMTG - Get Rating) released its earnings results on Thursday. The company reported $0.38 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.03), Yahoo Finance reports. The business had revenue of $83.62 million for the quarter, compared to the consensus estimate of $88.73 million. Claros Mortgage Trust had a net margin of 55.82% and a return on equity of 7.04%. During the same period in the prior year, the company posted $0.30 EPS.

Claros Mortgage Trust Stock Performance

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NYSE CMTG traded down $0.70 during trading on Friday, reaching $15.10. The company's stock had a trading volume of 69,623 shares, compared to its average volume of 195,374. The company has a debt-to-equity ratio of 1.98, a quick ratio of 60.83 and a current ratio of 60.83. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 14.63 and a beta of 1.84. Claros Mortgage Trust has a twelve month low of $11.53 and a twelve month high of $21.09. The business's fifty day moving average price is $15.99 and its 200-day moving average price is $16.15.

Claros Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a $0.37 dividend. The ex-dividend date was Thursday, December 29th. This represents a $1.48 dividend on an annualized basis and a yield of 9.80%. Claros Mortgage Trust's dividend payout ratio (DPR) is presently 137.04%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods lowered Claros Mortgage Trust from a "market perform" rating to an "underperform" rating and set a $16.00 target price for the company. in a report on Thursday, December 15th. JPMorgan Chase & Co. cut their target price on Claros Mortgage Trust from $17.00 to $15.50 and set an "underweight" rating on the stock in a research report on Monday, October 24th. JMP Securities cut their price target on Claros Mortgage Trust from $19.00 to $18.00 and set a "market perform" rating on the stock in a research report on Tuesday. Finally, UBS Group lowered their target price on shares of Claros Mortgage Trust from $19.00 to $17.50 and set a "neutral" rating on the stock in a research note on Wednesday, December 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Claros Mortgage Trust has a consensus rating of "Hold" and an average target price of $17.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CMTG. Alliancebernstein L.P. grew its position in Claros Mortgage Trust by 7.4% during the fourth quarter. Alliancebernstein L.P. now owns 97,300 shares of the company's stock worth $1,431,000 after buying an additional 6,700 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Claros Mortgage Trust during the fourth quarter worth approximately $380,000. Legal & General Group Plc raised its stake in Claros Mortgage Trust by 260.1% during the fourth quarter. Legal & General Group Plc now owns 36,240 shares of the company's stock worth $533,000 after purchasing an additional 26,176 shares during the period. Morgan Stanley raised its stake in Claros Mortgage Trust by 77.1% during the fourth quarter. Morgan Stanley now owns 76,135 shares of the company's stock worth $1,120,000 after purchasing an additional 33,136 shares during the period. Finally, Norges Bank acquired a new stake in shares of Claros Mortgage Trust in the fourth quarter worth $361,000. 71.49% of the stock is currently owned by institutional investors and hedge funds.

Claros Mortgage Trust Company Profile

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Claros Mortgage Trust, Inc is a real estate investment trust that focuses primarily on originating senior and subordinate loans on transitional commercial real estate assets located in principal markets across the United States. The company is qualified as a real estate investment trust (REIT) under the Internal Revenue Code.

Further Reading

Earnings History for Claros Mortgage Trust (NYSE:CMTG)

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