Wells Fargo & Company Downgrades Claros Mortgage Trust (NYSE:CMTG) to Underweight

Claros Mortgage Trust (NYSE:CMTG) was downgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “underweight” rating in a research report issued on Friday, Briefing.com reports. They currently have a $8.00 target price on the stock. Wells Fargo & Company‘s price objective indicates a potential downside of 6.76% from the company’s previous close.

Several other brokerages also recently commented on CMTG. Keefe, Bruyette & Woods lowered 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, August 12th. JMP Securities reissued a “market perform” rating on shares of Claros Mortgage Trust in a report on Tuesday, June 11th. BTIG Research initiated coverage on Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on Claros Mortgage Trust from $8.50 to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, Claros Mortgage Trust currently has an average rating of “Hold” and an average target price of $8.75.

Claros Mortgage Trust Stock Up 3.1 %

Shares of NYSE CMTG opened at $8.58 on Friday. The stock has a market capitalization of $1.19 billion, a P/E ratio of -13.84 and a beta of 1.50. The stock’s fifty day moving average is $8.41 and its 200 day moving average is $8.60. Claros Mortgage Trust has a 52 week low of $6.80 and a 52 week high of $15.25. The company has a debt-to-equity ratio of 2.12, a quick ratio of 28.19 and a current ratio of 28.19.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, beating 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 firm had revenue of $64.49 million for the quarter, compared to analyst estimates of $64.25 million. Sell-side analysts forecast that Claros Mortgage Trust will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Claros Mortgage Trust

Several hedge funds have recently modified their holdings of CMTG. Victory Capital Management Inc. raised its position in Claros Mortgage Trust by 22.7% in the fourth quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock valued at $237,000 after purchasing an additional 3,209 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Claros Mortgage Trust by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock valued at $11,874,000 after buying an additional 13,165 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Claros Mortgage Trust by 11,644.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock worth $199,122,000 after buying an additional 14,484,684 shares during the period. Vanguard Group Inc. grew its holdings in Claros Mortgage Trust by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock worth $155,730,000 after acquiring an additional 55,256 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Claros Mortgage Trust by 0.7% in the 1st quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock valued at $3,166,000 after acquiring an additional 2,190 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.