Claros Mortgage Trust (NYSE:CMTG) Rating Increased to Buy at UBS Group

Claros Mortgage Trust (NYSE:CMTG) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a report released on Friday, MarketBeat reports. The brokerage currently has a $6.00 price target on the stock. UBS Group’s target price points to a potential upside of 56.66% from the stock’s current price.

CMTG has been the subject of several other research reports. JPMorgan Chase & Co. decreased their price objective on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company cut shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective for the company. in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.94.

Claros Mortgage Trust Stock Down 1.3 %

Shares of CMTG stock traded down $0.05 on Friday, reaching $3.83. 63,334 shares of the company were exchanged, compared to its average volume of 529,740. The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 20.68. The company has a 50-day moving average of $5.81 and a 200-day moving average of $7.14. The company has a market cap of $533.76 million, a price-to-earnings ratio of -6.08 and a beta of 1.62. Claros Mortgage Trust has a one year low of $3.70 and a one year high of $12.86.

Institutional Trading of Claros Mortgage Trust

Several institutional investors have recently made changes to their positions in CMTG. Blue Trust Inc. boosted its holdings in 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. GSA Capital Partners LLP purchased a new position in shares of Claros Mortgage Trust in the 3rd quarter worth approximately $101,000. Intech Investment Management LLC purchased a new position in shares of Claros Mortgage Trust in the 3rd quarter worth approximately $114,000. SG Americas Securities LLC purchased a new stake in shares of Claros Mortgage Trust during the third quarter valued at approximately $150,000. Finally, Atria Investments Inc lifted its holdings in Claros Mortgage Trust by 29.2% during the third quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock worth $193,000 after acquiring an additional 5,823 shares during the period. Institutional investors 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.