Keefe, Bruyette & Woods Lowers Claros Mortgage Trust (NYSE:CMTG) Price Target to $3.00

Claros Mortgage Trust (NYSE:CMTG) had its price target lowered by stock analysts at Keefe, Bruyette & Woods from $3.25 to $3.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 5.45% from the stock’s current price.

Other research analysts also recently issued reports about the stock. UBS Group decreased their price target on shares of Claros Mortgage Trust from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Wall Street Zen raised shares of Claros Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Claros Mortgage Trust in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $3.33.

Claros Mortgage Trust Price Performance

Shares of CMTG traded up $0.03 during midday trading on Thursday, reaching $2.85. The stock had a trading volume of 19,924 shares, compared to its average volume of 319,449. The company has a current ratio of 26.00, a quick ratio of 26.00 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $398.93 million, a price-to-earnings ratio of -1.07 and a beta of 1.20. The company’s 50-day moving average is $3.19 and its 200 day moving average is $3.29. Claros Mortgage Trust has a 12-month low of $2.13 and a 12-month high of $4.30.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Friday, March 3rd. The company reported $0.38 earnings per share for the quarter. The company had revenue of $84.11 million during the quarter. Claros Mortgage Trust had a negative return on equity of 7.99% and a negative net margin of 184.07%. On average, equities analysts predict that Claros Mortgage Trust will post 0.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Claros Mortgage Trust by 2.3% in the third quarter. Vanguard Group Inc. now owns 6,616,998 shares of the company’s stock worth $21,968,000 after buying an additional 149,944 shares during the period. Geode Capital Management LLC grew its holdings in Claros Mortgage Trust by 3.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,465,260 shares of the company’s stock worth $7,027,000 after acquiring an additional 75,592 shares during the last quarter. Balyasny Asset Management L.P. increased its position in shares of 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 valued at $5,548,000 after acquiring an additional 362,130 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of Claros Mortgage Trust by 53.9% in 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 acquiring an additional 632,105 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new position in shares of Claros Mortgage Trust during the second quarter valued at about $2,522,000. Institutional investors 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.