Claros Mortgage Trust (NYSE:CMTG) Price Target Lowered to $3.00 at Wells Fargo & Company

Claros Mortgage Trust (NYSE:CMTG) had its target price cut by Wells Fargo & Company from $8.00 to $3.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

A number of other analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Claros Mortgage Trust from $6.50 to $4.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. UBS Group upgraded Claros Mortgage Trust from a “neutral” rating to a “buy” rating and cut their price target for the stock from $8.00 to $6.00 in a research note on Friday, January 10th. Two investment 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, the stock currently has an average rating of “Hold” and an average target price of $4.69.

Claros Mortgage Trust Price Performance

Shares of Claros Mortgage Trust stock opened at $2.57 on Tuesday. The stock has a market cap of $357.47 million, a P/E ratio of -1.61 and a beta of 1.57. The company has a debt-to-equity ratio of 2.08, a quick ratio of 20.68 and a current ratio of 25.67. The stock’s fifty day moving average is $3.66 and its 200 day moving average is $5.88. Claros Mortgage Trust has a one year low of $2.56 and a one year high of $10.15.

Claros Mortgage Trust (NYSE:CMTG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $60.23 million for the quarter, compared to analysts’ expectations of $58.07 million. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. Sell-side analysts anticipate that Claros Mortgage Trust will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On Claros Mortgage Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Koch Inc. purchased a new stake in Claros Mortgage Trust in the 4th quarter worth $68,374,000. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at about $2,552,000. JPMorgan Chase & Co. grew its position in Claros Mortgage Trust by 236.4% in the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after acquiring an additional 336,931 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Claros Mortgage Trust by 19.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,679,701 shares of the company’s stock worth $7,592,000 after acquiring an additional 277,053 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Claros Mortgage Trust by 62.1% during the fourth quarter. Bank of New York Mellon Corp now owns 568,754 shares of the company’s stock valued at $2,571,000 after purchasing an additional 217,989 shares during the period. Institutional investors own 89.53% of the company’s stock.

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.