Price T Rowe Associates Inc. MD Buys 7,062 Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG)

Price T Rowe Associates Inc. MD increased its stake in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) by 9.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 81,059 shares of the company’s stock after acquiring an additional 7,062 shares during the period. Price T Rowe Associates Inc. MD owned 0.06% of Claros Mortgage Trust worth $792,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CMTG. Lazard Asset Management LLC bought a new position in Claros Mortgage Trust in the 1st quarter worth $140,000. MQS Management LLC acquired a new stake in shares of Claros Mortgage Trust in the first quarter valued at about $128,000. Covestor Ltd increased its stake in shares of Claros Mortgage Trust by 349.4% in the first quarter. Covestor Ltd now owns 10,897 shares of the company’s stock worth $106,000 after purchasing an additional 8,472 shares during the period. Vanguard Group Inc. increased its stake in shares of Claros Mortgage Trust by 0.3% in the first quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock worth $111,810,000 after purchasing an additional 30,377 shares during the period. Finally, ProShare Advisors LLC lifted its position in shares of Claros Mortgage Trust by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $159,000 after purchasing an additional 1,284 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BTIG Research initiated coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating on the stock. Wells Fargo & Company dropped their target price on shares of Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 8th. JMP Securities reiterated a “market perform” rating on shares of Claros Mortgage Trust in a research note on Tuesday, June 11th. JPMorgan Chase & Co. raised their price target on shares of Claros Mortgage Trust from $8.50 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating for the company in a research report on Monday. One research 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.com, Claros Mortgage Trust has an average rating of “Hold” and an average target price of $9.00.

Claros Mortgage Trust Stock Down 7.6 %

CMTG opened at $7.58 on Tuesday. The company has a market capitalization of $1.05 billion, a P/E ratio of -12.23 and a beta of 1.53. The company has a debt-to-equity ratio of 2.07, a current ratio of 26.27 and a quick ratio of 26.27. The firm’s fifty day moving average price is $8.54 and its two-hundred day moving average price is $9.06. Claros Mortgage Trust, Inc. has a fifty-two week low of $6.80 and a fifty-two week high of $15.25.

Claros Mortgage Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 5.28%. Claros Mortgage Trust’s dividend payout ratio (DPR) is currently -64.52%.

Insider Activity at Claros Mortgage Trust

In other Claros Mortgage Trust news, CEO Richard Mack purchased 116,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $7.18 per share, for a total transaction 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 purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Richard Mack acquired 116,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $7.18 per share, with a total value of $832,880.00. Following the completion of the acquisition, the chief executive officer now owns 2,551,853 shares in the company, valued at $18,322,304.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jeffrey D. Siegel bought 5,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $7.23 per share, for a total transaction of $36,150.00. Following the acquisition, the insider now owns 167,242 shares in the company, valued at approximately $1,209,159.66. The disclosure for this purchase can be found here. Insiders have acquired a total of 193,000 shares of company stock valued at $1,393,140 over the last quarter. 1.40% of the stock is owned by company insiders.

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.