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

Claros Mortgage Trust (NYSE:CMTG) had its target price decreased by research analysts at Keefe, Bruyette & Woods from $9.75 to $9.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 7.04% from the stock’s current price.

CMTG has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price target on shares of Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday. UBS Group reduced their target price on Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.00.

Claros Mortgage Trust Trading Up 4.4 %

Shares of Claros Mortgage Trust stock opened at $8.88 on Wednesday. The firm has a fifty day moving average price of $9.73 and a 200 day moving average price 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. The company has a debt-to-equity ratio of 2.09, a current ratio of 25.03 and a quick ratio of 25.03. Claros Mortgage Trust has a 1 year low of $8.37 and a 1 year high of $15.25.

Claros Mortgage Trust (NYSE:CMTG) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $75.98 million during the quarter, compared to analysts’ expectations of $72.79 million. Equities research analysts predict that Claros Mortgage Trust will post 0.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CMTG. Goldman Sachs Group Inc. increased its holdings in shares of Claros Mortgage Trust by 11,644.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock valued at $199,122,000 after purchasing an additional 14,484,684 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Claros Mortgage Trust by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock worth $155,730,000 after acquiring an additional 55,256 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Claros Mortgage Trust by 2.1% during the 2nd quarter. BlackRock Inc. now owns 8,220,860 shares of the company’s stock worth $93,225,000 after acquiring an additional 171,729 shares during the period. Geode Capital Management LLC raised its holdings in shares of Claros Mortgage Trust by 6.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,097,243 shares of the company’s stock worth $23,783,000 after acquiring an additional 134,637 shares during the period. Finally, State Street Corp boosted its position 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 valued at $23,018,000 after acquiring an additional 26,227 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.