Wells Fargo & Company Has Lowered Expectations for Claros Mortgage Trust (NYSE:CMTG) Stock Price

Claros Mortgage Trust (NYSE:CMTG) had its price objective cut by equities researchers at Wells Fargo & Company from $8.00 to $3.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 20.97% from the stock’s current price.

Several other equities research analysts have also issued reports on CMTG. Keefe, Bruyette & Woods lowered their target price on shares of Claros Mortgage Trust from $6.50 to $4.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 14th. UBS Group raised Claros Mortgage Trust from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $8.00 to $6.00 in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $4.69.

Claros Mortgage Trust Trading Down 3.5 %

Shares of NYSE:CMTG opened at $2.48 on Tuesday. The company has a current ratio of 25.67, a quick ratio of 20.68 and a debt-to-equity ratio of 2.08. Claros Mortgage Trust has a 12-month low of $2.43 and a 12-month high of $10.15. The business has a 50 day moving average of $3.62 and a two-hundred day moving average of $5.86. The company has a market capitalization of $345.62 million, a PE ratio of -1.56 and a beta of 1.57.

Claros Mortgage Trust (NYSE:CMTG) last posted its earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Claros Mortgage Trust had a negative net margin of 89.07% and a positive return on equity of 4.72%. The firm had revenue of $60.23 million during the quarter, compared to analyst estimates of $58.07 million. As a group, analysts forecast that Claros Mortgage Trust will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Claros Mortgage Trust by 2,260.7% in the 3rd quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock worth $43,000 after buying an additional 5,177 shares during the last quarter. Arlington Trust Co LLC purchased a new position in shares of Claros Mortgage Trust in the fourth quarter valued at approximately $43,000. Townsquare Capital LLC acquired a new stake in shares of Claros Mortgage Trust in the fourth quarter worth approximately $46,000. BNP Paribas Financial Markets purchased a new stake in shares of Claros Mortgage Trust during the fourth quarter worth approximately $46,000. Finally, Squarepoint Ops LLC acquired a new position in Claros Mortgage Trust in the 4th quarter valued at $46,000. 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.