Claros Mortgage Trust (NYSE:CMTG) Price Target Cut to $9.50

Claros Mortgage Trust (NYSE:CMTG) had its price target dropped by JPMorgan Chase & Co. from $11.00 to $9.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 7.04% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods cut their price objective on Claros Mortgage Trust from $10.75 to $9.75 and set an “underperform” rating on the stock in a research note on Friday, February 23rd. UBS Group lowered their target price on shares of Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $10.00.

Claros Mortgage Trust Stock Performance

Shares of Claros Mortgage Trust stock opened at $8.88 on Wednesday. The company has a quick ratio of 25.03, a current ratio of 25.03 and a debt-to-equity ratio of 2.09. Claros Mortgage Trust has a 12 month low of $8.37 and a 12 month high of $15.25. The business has a fifty day simple moving average of $9.73 and a 200-day simple moving average of $11.25. The stock has a market cap of $1.23 billion, a PE ratio of 443.75 and a beta of 1.58.

Claros Mortgage Trust (NYSE:CMTG) last issued its earnings results on Tuesday, February 20th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.19. Claros Mortgage Trust had a return on equity of 2.01% and a net margin of 1.97%. The firm had revenue of $75.98 million for the quarter, compared to the consensus estimate of $72.79 million. On average, sell-side analysts anticipate that Claros Mortgage Trust will post 0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Claros Mortgage Trust

Several large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its holdings in shares of Claros Mortgage Trust by 11,644.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock worth $199,122,000 after purchasing an additional 14,484,684 shares in the last quarter. Vanguard Group Inc. boosted its stake in Claros Mortgage Trust by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock worth $155,730,000 after buying an additional 55,256 shares in the last quarter. BlackRock Inc. increased its holdings in Claros Mortgage Trust by 2.1% in the 2nd quarter. BlackRock Inc. now owns 8,220,860 shares of the company’s stock valued at $93,225,000 after buying an additional 171,729 shares during the period. Geode Capital Management LLC raised its stake in shares of Claros Mortgage Trust by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,097,243 shares of the company’s stock valued at $23,783,000 after buying an additional 134,637 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Claros Mortgage Trust by 1.4% during the 2nd quarter. State Street Corp now owns 1,966,032 shares of the company’s stock worth $23,018,000 after acquiring an additional 26,227 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.