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

Claros Mortgage Trust (NYSE:CMTG) had its price target cut by Wells Fargo & Company from $8.00 to $3.00 in a research report report published on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

Several other brokerages have also weighed in on CMTG. Keefe, Bruyette & Woods decreased their price objective on Claros Mortgage Trust from $6.50 to $4.00 and set an “underperform” rating for the company in a report on Tuesday, January 14th. UBS Group upgraded Claros Mortgage Trust from a “neutral” rating to a “buy” rating and cut their target price for the stock from $8.00 to $6.00 in a research note on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.31.

Claros Mortgage Trust Price Performance

CMTG opened at $2.29 on Tuesday. The company has a debt-to-equity ratio of 2.08, a current ratio of 25.67 and a quick ratio of 20.68. The firm’s fifty day moving average price is $3.62 and its two-hundred day moving average price is $5.86. Claros Mortgage Trust has a 1 year low of $2.25 and a 1 year high of $10.15. The company has a market capitalization of $318.44 million, a price-to-earnings ratio of -1.44 and a beta of 1.57.

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

Hedge Funds Weigh In On Claros Mortgage Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of CMTG. Blue Trust Inc. raised its position 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 in the last quarter. Arlington Trust Co LLC bought a new position in Claros Mortgage Trust in the fourth quarter valued at $43,000. Townsquare Capital LLC purchased a new stake in Claros Mortgage Trust during the fourth quarter valued at about $46,000. BNP Paribas Financial Markets bought a new stake in Claros Mortgage Trust during the fourth quarter worth about $46,000. Finally, Squarepoint Ops LLC bought a new position in shares of Claros Mortgage Trust during the 4th quarter valued at about $46,000. 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.