Claros Mortgage Trust (NYSE:CMTG) Price Target Cut to $9.00 by Analysts at Wells Fargo & Company

Claros Mortgage Trust (NYSE:CMTG) had its price objective reduced by investment analysts at Wells Fargo & Company from $11.00 to $9.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 8.43% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating for the company in a research note on Wednesday, April 10th. Keefe, Bruyette & Woods cut their price target on Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. Finally, UBS Group lowered their price target on Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, March 20th.

Claros Mortgage Trust Trading Down 4.2 %

Shares of CMTG stock traded down $0.36 during trading hours on Wednesday, reaching $8.30. 75,224 shares of the stock traded hands, compared to its average volume of 299,305. The business has a fifty day moving average price of $9.31 and a 200 day moving average price of $10.96. Claros Mortgage Trust has a 1-year low of $8.15 and a 1-year high of $15.25. The company has a quick ratio of 25.03, a current ratio of 25.03 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $1.15 billion, a PE ratio of 416.21 and a beta of 1.59.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Tuesday, February 20th. The company reported $0.31 earnings per share (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 company had revenue of $75.98 million during the quarter, compared to analyst estimates of $72.79 million. On average, equities research analysts forecast that Claros Mortgage Trust will post 0.66 EPS for the current year.

Institutional Investors Weigh In On Claros Mortgage Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its position 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 period. Vanguard Group Inc. grew its stake in Claros Mortgage Trust by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 11,425,527 shares of the company’s stock valued at $155,730,000 after buying an additional 55,256 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Claros Mortgage Trust by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock worth $11,874,000 after acquiring an additional 13,165 shares during the period. Bank of New York Mellon Corp lifted its position in Claros Mortgage Trust by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 393,169 shares of the company’s stock worth $4,356,000 after acquiring an additional 15,895 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Claros Mortgage Trust by 0.7% during the first quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock valued at $3,166,000 after acquiring an additional 2,190 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.