Claros Mortgage Trust (NYSE:CMTG) Price Target Cut to $9.00

Claros Mortgage Trust (NYSE:CMTG) had its price target dropped by Wells Fargo & Company from $11.00 to $9.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.43% from the stock’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased their price target on Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods decreased their target price on Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating on the stock in a research note on Wednesday, April 10th. Finally, UBS Group dropped their target price on Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, March 20th.

Claros Mortgage Trust Trading Down 4.2 %

NYSE:CMTG traded down $0.36 on Wednesday, reaching $8.30. The company’s stock had a trading volume of 75,224 shares, compared to its average volume of 299,305. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 416.21 and a beta of 1.59. The company has a quick ratio of 25.03, a current ratio of 25.03 and a debt-to-equity ratio of 2.09. Claros Mortgage Trust has a 12-month low of $8.15 and a 12-month high of $15.25. The stock has a 50 day moving average price of $9.31 and a 200 day moving average price of $10.96.

Claros Mortgage Trust (NYSE:CMTG) last posted its earnings results on Tuesday, February 20th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.19. The company had revenue of $75.98 million for the quarter, compared to analysts’ expectations of $72.79 million. Claros Mortgage Trust had a net margin of 1.97% and a return on equity of 2.01%. On average, equities analysts anticipate that Claros Mortgage Trust will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC increased its stake in shares of 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 period. Principal Financial Group Inc. acquired a new stake in shares of Claros Mortgage Trust in the 3rd quarter valued at $149,000. ProShare Advisors LLC grew its stake in shares of 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 purchasing an additional 1,284 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Claros Mortgage Trust by 22.7% in the fourth quarter. Victory Capital Management Inc. now owns 17,353 shares of the company’s stock valued at $237,000 after buying an additional 3,209 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Claros Mortgage Trust by 90.0% in the fourth quarter. Handelsbanken Fonder AB now owns 24,700 shares of the company’s stock valued at $337,000 after buying an additional 11,700 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.