Claros Mortgage Trust, Inc. (NYSE:CMTG) Receives $7.44 Average Price Target from Analysts

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have received an average recommendation of “Reduce” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $7.44.

CMTG has been the topic of a number of recent research reports. UBS Group dropped their target price on Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their price objective on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. decreased their target price on shares of 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. Finally, Wells Fargo & Company lowered 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 report on Friday, September 20th.

Institutional Trading of Claros Mortgage Trust

Hedge funds have recently added to or reduced their stakes in the company. Waterfall Asset Management LLC acquired a new position in shares of Claros Mortgage Trust in the second quarter worth about $4,448,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at about $2,552,000. Charles Schwab Investment Management Inc. raised its holdings in Claros Mortgage Trust by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock worth $10,506,000 after purchasing an additional 188,950 shares during the period. Barclays PLC raised its holdings in Claros Mortgage Trust by 332.1% in 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 period. Finally, Zacks Investment Management boosted its position in Claros Mortgage Trust by 26.1% during the third 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 in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Claros Mortgage Trust Stock Performance

Shares of CMTG opened at $7.05 on Thursday. The company has a debt-to-equity ratio of 2.11, a quick ratio of 20.68 and a current ratio of 20.68. The stock has a 50-day moving average of $6.91 and a two-hundred day moving average of $7.79. The stock has a market cap of $981.79 million, a P/E ratio of -11.08 and a beta of 1.51. Claros Mortgage Trust has a one year low of $6.08 and a one year high of $15.25.

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.