Victory Capital Management Inc. acquired a new stake in Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Rating) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,728 shares of the company's stock, valued at approximately $173,000.
→ Know Your Profit Potential BEFORE You Trade! (From Tradewins)
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMTG. Tesco Pension Investment Ltd purchased a new position in Claros Mortgage Trust in the second quarter valued at $33,500,000. State Street Corp purchased a new stake in shares of Claros Mortgage Trust during the second quarter worth about $19,780,000. Northern Trust Corp increased its stake in shares of Claros Mortgage Trust by 24.1% during the second quarter. Northern Trust Corp now owns 3,103,362 shares of the company's stock worth $51,981,000 after purchasing an additional 603,362 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Claros Mortgage Trust during the second quarter worth about $2,208,000. Finally, Rhumbline Advisers purchased a new stake in shares of Claros Mortgage Trust during the second quarter worth about $2,196,000. Hedge funds and other institutional investors own 71.49% of the company's stock.
CMTG has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of Claros Mortgage Trust from $17.00 to $15.50 and set an "underweight" rating for the company in a research note on Monday, October 24th. Keefe, Bruyette & Woods cut shares of Claros Mortgage Trust from a "market perform" rating to an "underperform" rating and set a $16.00 target price for the company. in a research note on Thursday, December 15th. Finally, UBS Group cut their target price on shares of Claros Mortgage Trust from $19.00 to $17.50 and set a "neutral" rating for the company in a research note on Wednesday, December 21st.
Shares of NYSE CMTG opened at $16.16 on Monday. Claros Mortgage Trust, Inc. has a 12-month low of $11.53 and a 12-month high of $21.09. The stock has a market cap of $2.24 billion, a PE ratio of 14.96 and a beta of 1.84. The company has a current ratio of 60.83, a quick ratio of 60.83 and a debt-to-equity ratio of 1.98. The company has a 50-day moving average of $16.06 and a 200 day moving average of $16.19.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $1.48 annualized dividend and a yield of 9.16%. Claros Mortgage Trust's dividend payout ratio is presently 137.04%.
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.
Want to see what other hedge funds are holding CMTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Claros Mortgage Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Claros Mortgage Trust wasn't on the list.
While Claros Mortgage Trust currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
