Claros Mortgage Trust, Inc.’s (NYSE: CMTG) short interest decreased considerably in November. As of November 15, there were 3,680,000 shares of total short interest, a 15.4% decrease from 4,350,000 on October 31. Based on an average daily volume of 783,900 shares, the days-to-cover ratio is currently 4.7 days. Short sellers currently hold 2.9% of the company’s shares.
The most recent quarterly earnings report for Claros Mortgage Trust (NYSE: CMTG) was released on November 9. The company’s $0.33 per share for the quarter was ($0.03) below analysts’ $0.36 per share projections. The net margin for Claros Mortgage Trust was 55.82%, and the return on equity was 7.04%. The company’s revenue for the quarter was $76.42 million, as opposed to the consensus estimate of $77.72 million. On average, sell-side analysts predict Claros Mortgage Trust will generate $1.38 in earnings per share for the current fiscal year.
At 12:13 on Friday, 240,443 shares of the company were traded, resulting in a $0.08 drop in price to $17.13. From the daily average volume of 383,692 shares, this value has decreased. Within the upcoming year, Claros Mortgage Trust’s price ranges from $11.53 to $21.09. The company has a market value of $2.37 billion and a P/E ratio of 15.86. The 50-day and 200-day moving averages of the company’s stock are $15.27 and $17.10, respectively. The debt to equity for the company is 1.98, the quick ratio is 60.83, and the current ratio is 60.83.
The contributions made by hedge funds to the sector have recently evolved. Allspring Global Investments Holdings LLC increased its stake in Claros Mortgage Trust during the third quarter, increasing its worth by nearly $30,000. Quantbot Technologies LP spent almost $49,000 more on more Claros Mortgage Trust shares during the second quarter. JPMorgan Chase & Co. increased its ownership of Claros Mortgage Trust by purchasing new shares by around $104,000 during the first quarter. Neo Ivy Capital Management increased its stake in Claros Mortgage Trust during the third quarter, bringing its total holdings to roughly $90,000. Finally, during the first quarter, Bank of America Corp. (DE) added a new position to its portfolio worth around $137,000 in the form of shares of Claros Mortgage Trust. Institutional investors and hedge funds own 62.25% of the company’s shares.
The business also recently declared a quarterly dividend and paid out on Friday, October 14. On Friday, September 30, Shareholders of record received a $0.37 dividend. The ex-dividend date for this dividend was September 29. This generates an annual dividend of $1.48 and a quarterly yield of 8.64%. Claros Mortgage Trust’s current dividend payout ratio is 137.04%.
Separately, on Monday, October 24, JPMorgan Chase & Co. downgraded the company to “underweight” and dropped their price objective on shares of Claros Mortgage Trust from $17.00 to $15.50.