Wells Fargo & Company Cuts Claros Mortgage Trust (NYSE:CMTG) Price Target to $1.75

Claros Mortgage Trust (NYSE:CMTG) had its price target reduced by Wells Fargo & Company from $2.50 to $1.75 in a research report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

A number of other equities research analysts also recently weighed in on CMTG. Keefe, Bruyette & Woods cut their price target on shares of Claros Mortgage Trust from $2.50 to $2.15 and set an “underperform” rating for the company in a report on Tuesday. Weiss Ratings downgraded Claros Mortgage Trust from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Wall Street Zen lowered Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a report on Saturday, August 1st. Finally, 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 target price for the company. One investment analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Claros Mortgage Trust presently has a consensus rating of “Strong Sell” and a consensus price target of $2.22.

Claros Mortgage Trust Trading Up 10.0%

CMTG opened at $1.93 on Wednesday. The stock has a market capitalization of $271.58 million, a PE ratio of -0.50 and a beta of 1.16. Claros Mortgage Trust has a 12-month low of $1.66 and a 12-month high of $3.99. The firm’s fifty day moving average price is $2.30 and its 200 day moving average price is $2.42. The company has a debt-to-equity ratio of 1.81, a current ratio of 21.44 and a quick ratio of 21.44.

Claros Mortgage Trust (NYSE:CMTG) last released 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 net margin of 354.13% and a negative return on equity of 19.70%. The business had revenue of $30.00 million for the quarter, compared to the consensus estimate of $33.55 million. As a group, research analysts expect that Claros Mortgage Trust will post -2.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in Claros Mortgage Trust by 75.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,938 shares of the company’s stock valued at $25,000 after buying an additional 3,854 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Claros Mortgage Trust in the third quarter valued at approximately $34,000. Hsbc Holdings PLC acquired a new stake in shares of Claros Mortgage Trust during the 1st quarter worth $37,000. Mariner LLC bought a new position in shares of Claros Mortgage Trust in the fourth quarter worth about $38,000. Finally, Jump Financial LLC acquired a new position in Claros Mortgage Trust in the 2nd quarter worth about $44,000. Institutional investors and hedge funds 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.