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.

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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.

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