Claros Mortgage Trust (NYSE:CMTG) Price Target Cut to $8.00 by Analysts at UBS Group

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

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company cut shares of 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 report on Friday, September 20th. JPMorgan Chase & Co. dropped their price target on shares of 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. Keefe, Bruyette & Woods increased their price objective on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research note on Tuesday, November 12th. Finally, BTIG Research began coverage on shares of Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.44.

Claros Mortgage Trust Price Performance

Shares of NYSE CMTG opened at $6.70 on Friday. Claros Mortgage Trust has a fifty-two week low of $6.08 and a fifty-two week high of $15.25. The stock has a market cap of $933.73 million, a price-to-earnings ratio of -10.63 and a beta of 1.51. The company has a debt-to-equity ratio of 2.11, a quick ratio of 28.19 and a current ratio of 20.68. The firm’s 50-day simple moving average is $7.04 and its 200 day simple moving average is $7.88.

Institutional Investors Weigh In On Claros Mortgage Trust

Several large investors have recently modified their holdings of the stock. Barclays PLC increased its stake in shares of Claros Mortgage Trust by 332.1% during the 3rd quarter. Barclays PLC now owns 138,291 shares of the company’s stock worth $1,037,000 after purchasing an additional 106,289 shares during the last quarter. Zacks Investment Management increased its stake in shares of Claros Mortgage Trust by 26.1% during the 3rd quarter. Zacks Investment Management now owns 331,865 shares of the company’s stock worth $2,486,000 after purchasing an additional 68,749 shares during the last quarter. State Street Corp increased its stake in shares of Claros Mortgage Trust by 0.3% during the 3rd quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after purchasing an additional 6,882 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Claros Mortgage Trust during the 3rd quarter worth approximately $2,552,000. Finally, PDT Partners LLC purchased a new stake in shares of Claros Mortgage Trust during the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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.