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

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) have been given an average rating of “Reduce” by the six research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.44.

CMTG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted 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. JPMorgan Chase & Co. cut 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 note on Thursday, October 17th. Wells Fargo & Company lowered shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a research report on Friday, September 20th. Finally, UBS Group cut their price objective on shares of 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.

Claros Mortgage Trust Stock Up 3.0 %

Claros Mortgage Trust stock opened at $6.79 on Thursday. The company’s 50 day simple moving average is $6.86 and its 200 day simple moving average is $7.77. Claros Mortgage Trust has a fifty-two week low of $6.08 and a fifty-two week high of $15.25. The firm has a market capitalization of $946.25 million, a price-to-earnings ratio of -10.78 and a beta of 1.51. 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 added to or reduced their stakes in the company. ProShare Advisors LLC increased its holdings in Claros Mortgage Trust by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock worth $159,000 after buying an additional 1,284 shares during the last quarter. SG Americas Securities LLC increased its holdings in Claros Mortgage Trust by 32.2% during the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock worth $106,000 after buying an additional 2,651 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in 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 worth $369,000 after buying an additional 2,885 shares during the last quarter. Gladius Capital Management LP acquired a new position in Claros Mortgage Trust during the second quarter worth $33,000. Finally, Blue Trust Inc. increased its holdings in Claros Mortgage Trust by 2,260.7% during the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock worth $43,000 after buying an additional 5,177 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.