Claros Mortgage Trust (NYSE:CMTG) Research Coverage Started at UBS Group

UBS Group initiated coverage on shares of Claros Mortgage Trust (NYSE:CMTG) in a report published on Thursday, MarketBeat reports. The firm issued a neutral rating and a $2.75 price target on the stock.

A number of other equities analysts have also commented on CMTG. Keefe, Bruyette & Woods dropped their price target on Claros Mortgage Trust from $2.50 to $2.25 and set an “underperform” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings downgraded Claros Mortgage Trust from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen raised Claros Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. One research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Claros Mortgage Trust has a consensus rating of “Strong Sell” and an average price target of $2.50.

Claros Mortgage Trust Stock Down 1.5%

Shares of CMTG stock opened at $2.29 on Thursday. The company’s fifty day simple moving average is $2.36 and its two-hundred day simple moving average is $2.52. Claros Mortgage Trust has a 52 week low of $2.05 and a 52 week high of $3.99. The stock has a market cap of $320.40 million, a P/E ratio of -0.69 and a beta of 1.13. The company has a quick ratio of 21.44, a current ratio of 21.44 and a debt-to-equity ratio of 1.53.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). Claros Mortgage Trust had a negative net margin of 267.14% and a negative return on equity of 19.34%. The firm had revenue of $29.52 million for the quarter, compared to analysts’ expectations of $36.94 million. Analysts predict that Claros Mortgage Trust will post -1.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new position in shares of Claros Mortgage Trust during the 2nd quarter valued at approximately $205,000. Empowered Funds LLC bought a new stake in Claros Mortgage Trust in the first quarter worth $212,000. Bank of America Corp DE lifted its position in Claros Mortgage Trust by 41.0% in the first quarter. Bank of America Corp DE now owns 108,263 shares of the company’s stock worth $258,000 after buying an additional 31,494 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Claros Mortgage Trust by 81.4% during the first quarter. Renaissance Technologies LLC now owns 48,800 shares of the company’s stock worth $116,000 after buying an additional 21,900 shares during the period. Finally, Sei Investments Co. boosted its stake in Claros Mortgage Trust by 152.3% during the first quarter. Sei Investments Co. now owns 158,724 shares of the company’s stock worth $378,000 after buying an additional 95,805 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About Claros Mortgage Trust

Claros Mortgage Trust is a specialty finance company structured as a real estate investment trust that acquires and manages a portfolio of newly originated, conventional residential mortgage loans guaranteed or insured by U.S. government‐sponsored enterprises. The company concentrates on Agency collateral, including loans backed by Ginnie Mae, Fannie Mae and Freddie Mac, aiming to generate current income while preserving capital through high‐quality, credit‐enhanced assets.

Under an external management agreement with Claros Mortgage Capital Advisors LLC, the firm leverages a seasoned team to source, underwrite and service mortgage assets.