Claros Mortgage Trust, Inc. lock-up period to expire May 2 (NYSE:CMTG)
Claros Mortgage Trust (NYSE:CMTG – Get Rating) lock-up period is set to expire on Monday, May 2. Claros Mortgage Trust had issued 5,524,934 shares when it went public on November 3. The total offer size was $103,040,019 based on an initial share price of $18.65. Company shares held by major shareholders and company insiders will be eligible for trading after the lock-up period expires.
Separately, Zacks Investment Research downgraded Claros Mortgage Trust from a “buy” rating to a “hold” rating in a Wednesday, February 9 report. Three analysts rated the stock with a hold rating and two gave the company’s stock a buy rating. According to data from MarketBeat.com, Claros Mortgage Trust currently has a consensus rating of “Hold” and a consensus target price of $18.90.
NYSE:CMTG opened at $19.09 on Monday. Claros Mortgage Trust has a 12 month minimum of $14.96 and a 12 month maximum of $19.49. The company has a 50-day simple moving average of $17.55.
Claros Mortgage Trust (NYSE:CMTG – Get Rating) last released its results on Monday, March 14. The company reported earnings per share of $0.30 for the quarter, beating the Zacks consensus estimate of $0.28 by $0.02. On average, equity research analysts expect Claros Mortgage Trust to post EPS of 1.33 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 15. Shareholders of record on Thursday, March 31 received a dividend of $0.37. The ex-dividend date was Wednesday, March 30. This represents an annualized dividend of $1.48 and a dividend yield of 7.75%.
A number of hedge funds have recently increased or reduced their stake in CMTG. Sandia Investment Management LP bought a new position in shares of Claros Mortgage Trust during the 4th quarter for a value of approximately $246,000. Lindbrook Capital LLC purchased a new position in shares of Claros Mortgage Trust during Q1 for a value of approximately $1,020,000. Norges Bank bought a new position in shares of Claros Mortgage Trust during the 4th quarter for a value of approximately $1,163,000. Goldman Sachs Group Inc. bought a new position in shares of Claros Mortgage Trust during the 4th quarter for a value of approximately $4,856,000. Finally, Millennium Management LLC purchased a new equity stake in Claros Mortgage Trust in Q4 for a value of approximately $8,064,000. Institutional investors and hedge funds hold 12.97% of the company’s shares.
About Claros Mortgage Trust (Get an assessment)
Claros Mortgage Trust, Inc., a commercial real estate finance (CRE) company, is focused on originating senior and subordinated loans on transitional CRE assets located in US markets. The company qualifies as a real estate investment trust (REIT) under the Internal Revenue Code. As a REIT, its net income would be exempt from federal tax to the extent it is distributed as dividends to shareholders.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Claros Mortgage Trust right now?
Before you consider Claros Mortgage Trust, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and Claros Mortgage Trust didn’t make the list.
Although Claros Mortgage Trust currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here