UBS Group Issues Pessimistic Forecast for Claros Mortgage Trust (NYSE:CMTG) Stock Price

Claros Mortgage Trust (NYSE:CMTG) had its price target cut by UBS Group from $8.50 to $8.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also weighed in on CMTG. Wells Fargo & Company lowered shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a report on Friday, September 20th. Keefe, Bruyette & Woods boosted their price target on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research note on Tuesday, November 12th. BTIG Research assumed coverage on shares of Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating for the company. Finally, JPMorgan Chase & Co. cut 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 research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.44.

Claros Mortgage Trust Stock Performance

NYSE CMTG opened at $6.53 on Friday. The company’s 50 day moving average is $7.04 and its 200-day moving average is $7.87. Claros Mortgage Trust has a 12-month low of $6.08 and a 12-month high of $15.25. The company has a quick ratio of 28.19, a current ratio of 20.68 and a debt-to-equity ratio of 2.11. The firm has a market cap of $909.34 million, a P/E ratio of -10.35 and a beta of 1.51.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMTG. SG Americas Securities LLC increased its stake in Claros Mortgage Trust by 32.2% during the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock valued at $106,000 after purchasing an additional 2,651 shares in the last quarter. ProShare Advisors LLC raised its stake in Claros Mortgage Trust by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $159,000 after acquiring an additional 1,284 shares during the period. Vanguard Group Inc. raised its stake in Claros Mortgage Trust by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock worth $111,810,000 after acquiring an additional 30,377 shares during the period. Covestor Ltd raised its position in shares of Claros Mortgage Trust by 349.4% during the first quarter. Covestor Ltd now owns 10,897 shares of the company’s stock valued at $106,000 after buying an additional 8,472 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of Claros Mortgage Trust during the first quarter valued at approximately $128,000. 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.