Claros Mortgage Trust (NYSE:CMTG) Price Target Lowered to $3.00 at Wells Fargo & Company

Claros Mortgage Trust (NYSE:CMTG) had its price objective trimmed by Wells Fargo & Company from $8.00 to $3.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other research analysts have also recently issued reports on CMTG. UBS Group raised shares of Claros Mortgage Trust from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $8.00 to $6.00 in a report on Friday, January 10th. Keefe, Bruyette & Woods reduced their target price on Claros Mortgage Trust from $6.50 to $4.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4.69.

Claros Mortgage Trust Stock Down 10.6 %

Claros Mortgage Trust stock opened at $2.57 on Tuesday. The business has a fifty day moving average price of $3.66 and a 200-day moving average price of $5.88. Claros Mortgage Trust has a 1-year low of $2.56 and a 1-year high of $10.15. The stock has a market capitalization of $357.47 million, a price-to-earnings ratio of -1.61 and a beta of 1.57. The company has a debt-to-equity ratio of 2.08, a current ratio of 25.67 and a quick ratio of 20.68.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $60.23 million for the quarter, compared to analyst estimates of $58.07 million. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. Equities research analysts forecast that Claros Mortgage Trust will post 0.27 EPS for the current fiscal year.

Institutional Trading of Claros Mortgage Trust

Several large investors have recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 5,177 shares during the last quarter. Arlington Trust Co LLC acquired a new stake in Claros Mortgage Trust during the 4th quarter worth about $43,000. Townsquare Capital LLC purchased a new position in shares of Claros Mortgage Trust during the 4th quarter valued at about $46,000. BNP Paribas Financial Markets acquired a new position in shares of Claros Mortgage Trust in the 4th quarter valued at about $46,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Claros Mortgage Trust in the fourth quarter worth about $46,000. 89.53% of the stock is owned by hedge funds and other 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.