Keefe, Bruyette & Woods Issues Pessimistic Forecast for Claros Mortgage Trust (NYSE:CMTG) Stock Price

Claros Mortgage Trust (NYSE:CMTG) had its price objective cut by investment analysts at Keefe, Bruyette & Woods from $2.15 to $1.75 in a research report issued on Friday, Benzinga reports. The firm presently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 41.70% from the company’s previous close.

A number of other analysts have also weighed in on CMTG. Wall Street Zen lowered shares of Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st. Wells Fargo & Company lowered their price target on shares of Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating for the company in a report on Wednesday, August 5th. UBS Group began coverage on shares of Claros Mortgage Trust in a report on Thursday, July 16th. They issued a “neutral” rating and a $2.75 price objective on the stock. Finally, Weiss Ratings cut shares of Claros Mortgage Trust from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and an average price target of $2.08.

Claros Mortgage Trust Trading Down 0.4%

NYSE:CMTG traded down $0.01 during midday trading on Friday, reaching $1.24. The company had a trading volume of 63,090 shares, compared to its average volume of 621,174. The firm has a market capitalization of $174.24 million, a price-to-earnings ratio of -0.32 and a beta of 1.16. The stock’s fifty day simple moving average is $1.56 and its 200-day simple moving average is $2.09. Claros Mortgage Trust has a 12-month low of $1.16 and a 12-month high of $3.62.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.38). The company had revenue of $30.00 million for the quarter, compared to analysts’ expectations of $33.55 million. Claros Mortgage Trust had a negative return on equity of 19.70% and a negative net margin of 354.13%. As a group, sell-side analysts expect that Claros Mortgage Trust will post -2.67 EPS for the current year.

Insider Buying and Selling

In related news, CFO Mike Mcgillis acquired 25,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $1.71 per share, with a total value of $42,750.00. Following the completion of the acquisition, the chief financial officer owned 749,000 shares in the company, valued at $1,280,790. This trade represents a 3.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard Mack acquired 20,603 shares of Claros Mortgage Trust stock in a transaction dated Friday, September 4th. The shares were bought at an average price of $1.59 per share, with a total value of $32,758.77. Following the transaction, the chief executive officer directly owned 3,110,911 shares in the company, valued at approximately $4,946,348.49. The trade was a 0.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 245,603 shares of company stock worth $393,509. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Claros Mortgage Trust

Several large investors have recently bought and sold shares of CMTG. Sei Investments Co. grew its holdings in shares of 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 purchasing an additional 95,805 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Claros Mortgage Trust by 41.0% in the 1st 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 during the period. Empowered Funds LLC purchased a new position in Claros Mortgage Trust during the 1st quarter worth approximately $212,000. FNY Investment Advisers LLC purchased a new position in Claros Mortgage Trust during the 2nd quarter worth approximately $205,000. Finally, Renaissance Technologies LLC increased its position in Claros Mortgage Trust by 81.4% during the first quarter. Renaissance Technologies LLC now owns 48,800 shares of the company’s stock worth $116,000 after buying an additional 21,900 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

About Claros Mortgage Trust

Claros Mortgage Trust (NYSE:CMTG) is a commercial mortgage real estate investment trust that originates, acquires and manages commercial real estate loans. The company primarily focuses on loans secured by institutional-quality properties, including office, multifamily, hotel, industrial and other commercial assets.

Its portfolio has historically emphasized transitional commercial real estate, meaning properties that may require renovation, repositioning, lease-up or other improvements before reaching stabilized operations.