Claros Mortgage Trust (NYSE:CMTG) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

Claros Mortgage Trust (NYSE:CMTG) had its target price cut by Keefe, Bruyette & Woods from $2.15 to $1.75 in a research report sent to investors on Friday,Benzinga reports. They currently have an underperform rating on the stock.

A number of other equities research analysts have also weighed in on the company. Wall Street Zen lowered Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st. Weiss Ratings lowered shares of Claros Mortgage Trust from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. Wells Fargo & Company decreased their price objective on shares of Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating for the company in a research report on Wednesday, August 5th. Finally, UBS Group began coverage on shares of Claros Mortgage Trust in a research note on Thursday, July 16th. They issued a “neutral” rating and a $2.75 target price for the company. One investment analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and an average price target of $2.08.

Claros Mortgage Trust Price Performance

Shares of CMTG stock opened at $1.21 on Friday. The stock’s fifty day moving average price is $1.55 and its 200 day moving average price is $2.09. Claros Mortgage Trust has a 1-year low of $1.16 and a 1-year high of $3.62. The company has a market cap of $170.01 million, a price-to-earnings ratio of -0.31 and a beta of 1.16.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.38). The business had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $33.55 million. Claros Mortgage Trust had a negative net margin of 354.13% and a negative return on equity of 19.70%. As a group, equities research analysts anticipate that Claros Mortgage Trust will post -2.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Richard Mack bought 20,603 shares of Claros Mortgage Trust stock in a transaction that occurred on Friday, September 4th. The stock was bought at an average price of $1.59 per share, for a total transaction of $32,758.77. Following the purchase, the chief executive officer directly owned 3,110,911 shares of the company’s stock, valued at approximately $4,946,348.49. The trade was a 0.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mike Mcgillis purchased 25,000 shares of the stock in a transaction on Thursday, August 6th. The shares were purchased at an average cost of $1.71 per share, with a total value of $42,750.00. Following the transaction, the chief financial officer owned 749,000 shares in the company, valued at $1,280,790. This trade represents a 3.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 245,603 shares of company stock worth $393,509 over the last three months. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Claros Mortgage Trust

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC acquired a new position in shares of Claros Mortgage Trust in the first quarter valued at about $37,000. Sequoia Financial Advisors LLC purchased a new position in shares of Claros Mortgage Trust in the second quarter worth about $53,000. Gallagher Fiduciary Advisors LLC purchased a new position in shares of Claros Mortgage Trust in the second quarter worth about $79,000. Renaissance Technologies LLC raised its stake in shares of Claros Mortgage Trust by 81.4% in the first quarter. Renaissance Technologies LLC now owns 48,800 shares of the company’s stock worth $116,000 after purchasing an additional 21,900 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Claros Mortgage Trust during the second quarter worth about $205,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About Claros Mortgage Trust

Claros Mortgage Trust (NYSE:CMTG) is a commercial mortgage real estate investment trust that originates, acquires and manages commercial real estate loans. The company primarily focuses on loans secured by institutional-quality properties, including office, multifamily, hotel, industrial and other commercial assets.

Its portfolio has historically emphasized transitional commercial real estate, meaning properties that may require renovation, repositioning, lease-up or other improvements before reaching stabilized operations.