Claros Mortgage Trust (NYSE:CMTG) Now Covered by Analysts at UBS Group

Investment analysts at UBS Group began coverage on shares of Claros Mortgage Trust (NYSE:CMTG) in a research report issued on Thursday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $2.75 price target on the stock. UBS Group’s target price would indicate a potential upside of 18.89% from the stock’s current price.

Other analysts have also issued research reports about the company. Wall Street Zen raised Claros Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings lowered Claros Mortgage Trust from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods lowered their target price on Claros Mortgage Trust from $2.50 to $2.25 and set an “underperform” rating on the stock in a report on Wednesday, May 13th. One research analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and an average target price of $2.50.

Claros Mortgage Trust Trading Down 2.4%

CMTG traded down $0.06 during mid-day trading on Thursday, hitting $2.31. The stock had a trading volume of 65,517 shares, compared to its average volume of 546,510. The stock’s fifty day simple moving average is $2.37 and its 200-day simple moving average is $2.52. Claros Mortgage Trust has a 1-year low of $2.05 and a 1-year high of $3.99. The firm has a market capitalization of $324.33 million, a price-to-earnings ratio of -0.70 and a beta of 1.13. The company has a debt-to-equity ratio of 1.53, a current ratio of 21.44 and a quick ratio of 21.44.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.28). The company had revenue of $29.52 million during the quarter, compared to analysts’ expectations of $36.94 million. Claros Mortgage Trust had a negative return on equity of 19.34% and a negative net margin of 267.14%. As a group, research analysts forecast that Claros Mortgage Trust will post -1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its position in Claros Mortgage Trust by 41.0% in the first quarter. Bank of America Corp DE now owns 108,263 shares of the company’s stock valued at $258,000 after purchasing an additional 31,494 shares in the last quarter. Renaissance Technologies LLC grew its holdings in 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 period. Sei Investments Co. grew its holdings in Claros Mortgage Trust by 152.3% during the first quarter. Sei Investments Co. now owns 158,724 shares of the company’s stock worth $378,000 after buying an additional 95,805 shares in the last quarter. Mariner LLC purchased a new position in Claros Mortgage Trust in the fourth quarter valued at approximately $38,000. Finally, Focus Partners Wealth purchased a new position in Claros Mortgage Trust during the third quarter valued at approximately $34,000. Institutional investors own 89.53% of the company’s stock.

About Claros Mortgage Trust

Claros Mortgage Trust is a specialty finance company structured as a real estate investment trust that acquires and manages a portfolio of newly originated, conventional residential mortgage loans guaranteed or insured by U.S. government?sponsored enterprises. The company concentrates on Agency collateral, including loans backed by Ginnie Mae, Fannie Mae and Freddie Mac, aiming to generate current income while preserving capital through high?quality, credit?enhanced assets.

Under an external management agreement with Claros Mortgage Capital Advisors LLC, the firm leverages a seasoned team to source, underwrite and service mortgage assets.