Claros Mortgage Trust (NYSE:CMTG) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of Claros Mortgage Trust (NYSE:CMTG) from a neutral rating to a buy rating in a research note issued to investors on Friday morning, Marketbeat Ratings reports. They currently have $6.00 price objective on the stock, down from their previous price objective of $8.00.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company downgraded shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a research report on Friday, September 20th. Keefe, Bruyette & Woods raised their price target on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.94.

Claros Mortgage Trust Price Performance

CMTG stock opened at $3.81 on Friday. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $530.97 million, a P/E ratio of -6.05 and a beta of 1.62. The business has a 50 day simple moving average of $5.81 and a 200-day simple moving average of $7.14. Claros Mortgage Trust has a twelve month low of $3.70 and a twelve month high of $12.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CMTG. Waterfall Asset Management LLC acquired a new position in Claros Mortgage Trust during the second quarter worth $4,448,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in Claros Mortgage Trust during the third quarter worth about $2,552,000. JPMorgan Chase & Co. grew its position in Claros Mortgage Trust by 236.4% during the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after buying an additional 336,931 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Claros Mortgage Trust by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after buying an additional 188,950 shares in the last quarter. Finally, Barclays PLC increased its holdings 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 buying an additional 106,289 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.