Claros Mortgage Trust, Inc. (NYSE:CMTG) Receives $7.44 Consensus Target Price from Brokerages

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have been given a consensus recommendation of “Reduce” by the six research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $6.94.

A number of brokerages have issued reports on CMTG. UBS Group upgraded shares of Claros Mortgage Trust from a “neutral” rating to a “buy” rating and cut their price target for the company from $8.00 to $6.00 in a research note on Friday. Keefe, Bruyette & Woods upped their target price 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. JPMorgan Chase & Co. reduced their target price on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Finally, Wells Fargo & Company downgraded Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research note on Friday, September 20th.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of institutional investors have recently modified their holdings of CMTG. State Street Corp grew its holdings in Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after acquiring an additional 6,882 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Claros Mortgage Trust by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock worth $10,506,000 after purchasing an additional 188,950 shares in the last quarter. Waterfall Asset Management LLC acquired a new stake in shares of Claros Mortgage Trust during the 2nd quarter worth approximately $4,448,000. JPMorgan Chase & Co. increased its holdings in shares of Claros Mortgage Trust by 236.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock valued at $3,591,000 after purchasing an additional 336,931 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Claros Mortgage Trust by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock valued at $3,278,000 after purchasing an additional 36,911 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Price Performance

Shares of CMTG stock opened at $3.81 on Friday. The firm has a market capitalization of $530.97 million, a price-to-earnings ratio of -6.05 and a beta of 1.62. The company has a debt-to-equity ratio of 2.11, a quick ratio of 20.68 and a current ratio of 20.68. The stock’s 50-day simple moving average is $5.76 and its 200-day simple moving average is $7.10. Claros Mortgage Trust has a fifty-two week low of $3.70 and a fifty-two week high of $12.86.

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.