Claros Mortgage Trust, Inc. (NYSE:CMTG) to Issue $0.10 Quarterly Dividend

Claros Mortgage Trust, Inc. (NYSE:CMTG) announced a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Investors of record on Monday, September 30th will be paid a dividend of 0.10 per share on Tuesday, October 15th. This represents a $0.40 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Monday, September 30th.

Claros Mortgage Trust has a payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Claros Mortgage Trust to earn $0.42 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 95.2%.

Claros Mortgage Trust Price Performance

CMTG stock opened at $7.65 on Friday. The firm has a 50 day simple moving average of $8.28 and a two-hundred day simple moving average of $8.52. The stock has a market cap of $1.06 billion, a PE ratio of -12.34 and a beta of 1.49. Claros Mortgage Trust has a one year low of $6.80 and a one year high of $15.25. The company has a debt-to-equity ratio of 2.12, a current ratio of 28.19 and a quick ratio of 28.19.

Claros Mortgage Trust (NYSE:CMTG) last announced its earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.10. Claros Mortgage Trust had a negative net margin of 35.47% and a positive return on equity of 3.30%. The company had revenue of $64.49 million during the quarter, compared to analyst estimates of $64.25 million. On average, analysts predict that Claros Mortgage Trust will post 0.15 EPS for the current fiscal year.

Analyst Ratings Changes

CMTG has been the subject of a number of recent research reports. JMP Securities restated a “market perform” rating on shares of Claros Mortgage Trust in a research report on Tuesday, June 11th. JPMorgan Chase & Co. upped 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. Keefe, Bruyette & Woods decreased their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company lowered shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target for the company. in a research report on Friday, September 20th. Finally, BTIG Research started coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.75.

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.