Claros Mortgage Trust (NYSE:CMTG) Upgraded by UBS Group to Buy Rating

UBS Group upgraded shares of Claros Mortgage Trust (NYSE:CMTG) from a neutral rating to a buy rating in a research note published on Friday, MarketBeat.com reports. The brokerage currently has $6.00 target price on the stock, down from their prior target price of $8.00.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company lowered Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research note on Friday, September 20th. JPMorgan Chase & Co. decreased their price objective on 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Claros Mortgage Trust has a consensus rating of “Hold” and an average target price of $6.94.

Claros Mortgage Trust Stock Performance

Shares of CMTG opened at $3.81 on Friday. The company has a 50-day moving average of $5.81 and a two-hundred day moving average of $7.14. The stock has a market cap of $530.97 million, a P/E ratio of -6.05 and a beta of 1.62. Claros Mortgage Trust has a 12-month low of $3.70 and a 12-month high of $12.86. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of large investors have recently bought and sold shares of CMTG. Blue Trust Inc. grew its stake in shares of Claros Mortgage Trust by 2,260.7% during the 3rd quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after buying an additional 5,177 shares during the period. GSA Capital Partners LLP purchased a new stake in Claros Mortgage Trust during the third quarter valued at about $101,000. Intech Investment Management LLC purchased a new position in shares of Claros Mortgage Trust in the 3rd quarter worth about $114,000. SG Americas Securities LLC acquired a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at about $150,000. Finally, Atria Investments Inc grew its holdings in shares of Claros Mortgage Trust by 29.2% during the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock worth $193,000 after purchasing an additional 5,823 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Company Profile

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.