Keefe, Bruyette & Woods Cuts Claros Mortgage Trust (NYSE:CMTG) Price Target to $4.00

Claros Mortgage Trust (NYSE:CMTG) had its target price reduced by Keefe, Bruyette & Woods from $6.50 to $4.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an underperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. UBS Group raised shares of Claros Mortgage Trust from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $8.00 to $6.00 in a research report on Friday, January 10th. Wells Fargo & Company downgraded Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target for the company. in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. cut their price objective on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Claros Mortgage Trust currently has a consensus rating of “Hold” and an average target price of $6.13.

Claros Mortgage Trust Stock Performance

Shares of CMTG stock opened at $3.93 on Tuesday. The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 20.68. The firm has a 50-day moving average of $5.52 and a 200-day moving average of $6.99. Claros Mortgage Trust has a one year low of $3.66 and a one year high of $12.86. The company has a market cap of $548.25 million, a P/E ratio of -6.24 and a beta of 1.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Waterfall Asset Management LLC purchased a new position in Claros Mortgage Trust in the second quarter valued at approximately $4,448,000. State Street Corp raised its stake in shares of Claros Mortgage Trust by 0.3% in the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock valued at $16,436,000 after buying an additional 6,882 shares during the period. Atria Investments Inc lifted its position in shares of Claros Mortgage Trust by 29.2% during the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock valued at $193,000 after buying an additional 5,823 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $10,506,000 after acquiring an additional 188,950 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of Claros Mortgage Trust during the 3rd quarter worth $101,000. 89.53% of the stock is owned by institutional investors.

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.