Keefe, Bruyette & Woods Cuts Claros Mortgage Trust (NYSE:CMTG) Price Target to $2.50

Claros Mortgage Trust (NYSE:CMTG) had its target price lowered by Keefe, Bruyette & Woods from $4.00 to $2.50 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Several other research analysts have also issued reports on CMTG. UBS Group dropped their price target on shares of Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on shares of Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.31.

Claros Mortgage Trust Stock Performance

NYSE:CMTG opened at $2.32 on Thursday. Claros Mortgage Trust has a 12-month low of $2.22 and a 12-month high of $10.15. The company has a quick ratio of 20.68, a current ratio of 25.67 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $322.63 million, a PE ratio of -1.46 and a beta of 1.57. The firm has a 50-day moving average price of $3.54 and a 200 day moving average price of $5.79.

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

Institutional Trading of Claros Mortgage Trust

Large investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after buying an additional 6,882 shares during the last quarter. Barclays PLC grew its stake in shares of Claros Mortgage Trust by 332.1% during the third quarter. Barclays PLC now owns 138,291 shares of the company’s stock valued at $1,037,000 after purchasing an additional 106,289 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Claros Mortgage Trust by 236.4% during the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock valued at $3,591,000 after purchasing an additional 336,931 shares during the last quarter. Atria Investments Inc grew its stake in shares of Claros Mortgage Trust by 29.2% during the third quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock valued at $193,000 after purchasing an additional 5,823 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Claros Mortgage Trust by 15.6% during 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 purchasing an additional 188,950 shares during the last quarter. 89.53% of the stock is owned by 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.