Claros Mortgage Trust, Inc. (NYSE:CMTG) Receives Consensus Rating of “Reduce” from Brokerages

Claros Mortgage Trust, Inc. (NYSE:CMTG) has been given a consensus recommendation of “Reduce” by the six research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.44.

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

Hedge Funds Weigh In On Claros Mortgage Trust

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in shares of Claros Mortgage Trust by 236.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock valued at $3,591,000 after buying an additional 336,931 shares during the period. Barclays PLC grew its stake in Claros Mortgage Trust by 332.1% in the third quarter. Barclays PLC now owns 138,291 shares of the company’s stock valued at $1,037,000 after acquiring an additional 106,289 shares during the period. Zacks Investment Management increased its holdings in shares of Claros Mortgage Trust by 26.1% in the third quarter. Zacks Investment Management now owns 331,865 shares of the company’s stock worth $2,486,000 after acquiring an additional 68,749 shares in the last quarter. State Street Corp lifted its holdings in shares of Claros Mortgage Trust by 0.3% during the 3rd quarter. State Street Corp now owns 2,165,863 shares of the company’s stock valued at $16,436,000 after purchasing an additional 6,882 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at approximately $2,552,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Performance

Shares of NYSE CMTG opened at $3.89 on Friday. The firm has a market capitalization of $542.12 million, a price-to-earnings ratio of -6.17 and a beta of 1.62. Claros Mortgage Trust has a one year low of $3.82 and a one year high of $12.86. The business has a fifty day simple moving average of $5.85 and a 200 day simple moving average of $7.17. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11.

Claros Mortgage Trust Company Profile

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.