Claros Mortgage Trust, Inc. (NYSE:CMTG) Given Average Recommendation of “Reduce” by Brokerages

Claros Mortgage Trust, Inc. (NYSE:CMTG) has earned a consensus rating of “Reduce” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.44.

Several analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company downgraded Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective for the company. in a report on Friday, September 20th. Finally, UBS Group dropped their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 15th.

Claros Mortgage Trust Trading Down 1.8 %

Shares of CMTG opened at $6.44 on Thursday. The firm has a fifty day simple moving average of $6.99 and a two-hundred day simple moving average of $7.84. Claros Mortgage Trust has a twelve month low of $6.08 and a twelve month high of $15.25. The stock has a market capitalization of $897.48 million, a P/E ratio of -10.22 and a beta of 1.51. The company has a quick ratio of 20.68, a current ratio of 20.68 and a debt-to-equity ratio of 2.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Waterfall Asset Management LLC purchased a new position in Claros Mortgage Trust during the second quarter worth $4,448,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Claros Mortgage Trust during the 3rd quarter worth about $2,552,000. Charles Schwab Investment Management Inc. grew its holdings in Claros Mortgage Trust by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after purchasing an additional 188,950 shares during the last quarter. Barclays PLC raised its position in Claros Mortgage Trust by 332.1% in the 3rd quarter. Barclays PLC now owns 138,291 shares of the company’s stock worth $1,037,000 after purchasing an additional 106,289 shares during the period. Finally, Zacks Investment Management raised its position in Claros Mortgage Trust by 26.1% in the 3rd quarter. Zacks Investment Management now owns 331,865 shares of the company’s stock worth $2,486,000 after purchasing an additional 68,749 shares during the period. 89.53% of the stock is currently owned by institutional investors.

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.