Claros Mortgage Trust (NYSE:CMTG) Given New $2.15 Price Target at Keefe, Bruyette & Woods

Claros Mortgage Trust (NYSE:CMTG) had its target price lowered by analysts at Keefe, Bruyette & Woods from $2.50 to $2.15 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 22.51% from the stock’s current price.

A number of other analysts have also weighed in on CMTG. UBS Group started coverage on shares of Claros Mortgage Trust in a research note on Thursday, July 16th. They issued a “neutral” rating and a $2.75 price objective for the company. Wall Street Zen downgraded shares of Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research report on Saturday. Finally, Weiss Ratings raised shares of Claros Mortgage Trust from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Claros Mortgage Trust presently has an average rating of “Strong Sell” and a consensus price target of $2.47.

Claros Mortgage Trust Stock Down 1.4%

NYSE CMTG traded down $0.03 on Tuesday, reaching $1.75. 49,880 shares of the stock traded hands, compared to its average volume of 556,163. The company has a debt-to-equity ratio of 1.81, a quick ratio of 21.44 and a current ratio of 21.44. The company has a fifty day moving average price of $2.34 and a 200-day moving average price of $2.45. The company has a market cap of $247.60 million, a price-to-earnings ratio of -0.46 and a beta of 1.16. Claros Mortgage Trust has a 12 month low of $1.72 and a 12 month high of $3.99.

Claros Mortgage Trust (NYSE:CMTG) last issued its earnings results on Wednesday, July 29th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.38). Claros Mortgage Trust had a negative return on equity of 19.70% and a negative net margin of 354.13%.The firm had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $33.55 million. As a group, research analysts forecast that Claros Mortgage Trust will post -1.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Claros Mortgage Trust by 2.3% during the third quarter. Vanguard Group Inc. now owns 6,616,998 shares of the company’s stock valued at $21,968,000 after purchasing an additional 149,944 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Claros Mortgage Trust by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,621,983 shares of the company’s stock worth $11,083,000 after purchasing an additional 383,859 shares in the last quarter. Geode Capital Management LLC raised its holdings in Claros Mortgage Trust by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,621,926 shares of the company’s stock worth $8,026,000 after purchasing an additional 29,367 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Claros Mortgage Trust by 22.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,946,597 shares of the company’s stock worth $5,548,000 after purchasing an additional 362,130 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Claros Mortgage Trust by 53.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,805,395 shares of the company’s stock valued at $5,994,000 after buying an additional 632,105 shares during the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Claros Mortgage Trust Company Profile

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.