Claros Mortgage Trust, Inc. (NYSE:CMTG) Given Consensus Rating of “Reduce” by Brokerages

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have been given an average recommendation of “Reduce” by the six brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.44.

CMTG has been the topic of several analyst reports. UBS Group lowered their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a 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 stock an “underperform” rating in a research note on Tuesday, November 12th. Wells Fargo & Company cut shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their price target on 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.

Claros Mortgage Trust Stock Performance

Claros Mortgage Trust stock opened at $4.24 on Monday. The firm has a market capitalization of $590.90 million, a P/E ratio of -6.73 and a beta of 1.52. The stock has a fifty day moving average price of $6.42 and a two-hundred day moving average price of $7.53. Claros Mortgage Trust has a 52-week low of $4.03 and a 52-week high of $14.62. The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 20.68.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of institutional investors have recently modified their holdings of CMTG. The Manufacturers Life Insurance Company grew its stake in shares of Claros Mortgage Trust by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock valued at $369,000 after purchasing an additional 2,885 shares during the last quarter. Blue Trust Inc. lifted its holdings in Claros Mortgage Trust by 2,260.7% during the 3rd quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock worth $43,000 after buying an additional 5,177 shares in the last quarter. Atria Investments Inc boosted its position in Claros Mortgage Trust by 29.2% in the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock valued at $193,000 after buying an additional 5,823 shares during the last quarter. State Street Corp increased its stake in shares of Claros Mortgage Trust by 0.3% in the 3rd quarter. State Street Corp now owns 2,165,863 shares of the company’s stock valued at $16,436,000 after buying an additional 6,882 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Claros Mortgage Trust during the third quarter worth $101,000. 89.53% of the stock is owned by institutional investors.

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.