Claros Mortgage Trust, Inc. (NYSE:CMTG) Given Average Recommendation of “Reduce” by Brokerages

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

CMTG has been the subject of a number of research analyst reports. UBS Group cut their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. JPMorgan Chase & Co. decreased their target price on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised their target price on Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company lowered Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target for the company. in a report on Friday, September 20th.

Claros Mortgage Trust Price Performance

Shares of Claros Mortgage Trust stock opened at $4.24 on Monday. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11. The firm has a fifty day simple moving average of $6.42 and a 200-day simple moving average of $7.53. The stock has a market capitalization of $590.90 million, a price-to-earnings ratio of -6.73 and a beta of 1.52. Claros Mortgage Trust has a 1-year low of $4.03 and a 1-year high of $14.62.

Hedge Funds Weigh In On Claros Mortgage Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMTG. Waterfall Asset Management LLC bought a new stake in Claros Mortgage Trust in the 2nd quarter valued at $4,448,000. Atria Investments Inc boosted its position 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 valued at $193,000 after acquiring an additional 5,823 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Claros Mortgage Trust by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after acquiring an additional 188,950 shares during the period. GSA Capital Partners LLP acquired a new position in Claros Mortgage Trust in the third quarter worth about $101,000. Finally, Intech Investment Management LLC bought a new position in Claros Mortgage Trust during the third quarter worth about $114,000. 89.53% of the stock is currently owned by institutional investors.

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.