Claros Mortgage Trust (NYSE:CMTG) Price Target Cut to $1.75 by Analysts at Wells Fargo & Company

Claros Mortgage Trust (NYSE:CMTG) had its target price cut by investment analysts at Wells Fargo & Company from $2.50 to $1.75 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 2.94% from the company’s previous close.

CMTG has been the topic of several other reports. UBS Group assumed coverage on Claros Mortgage Trust in a research report on Thursday, July 16th. They set a “neutral” rating and a $2.75 target price on the stock. Keefe, Bruyette & Woods lowered their price target on Claros Mortgage Trust from $2.50 to $2.15 and set an “underperform” rating for the company in a report on Tuesday. Wall Street Zen lowered Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday. Finally, Weiss Ratings downgraded shares of Claros Mortgage Trust from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and an average price target of $2.22.

Claros Mortgage Trust Stock Down 1.7%

CMTG traded down $0.03 during trading on Wednesday, hitting $1.70. The stock had a trading volume of 157,032 shares, compared to its average volume of 559,153. The company has a market capitalization of $239.84 million, a PE ratio of -0.44 and a beta of 1.16. Claros Mortgage Trust has a twelve month low of $1.67 and a twelve month high of $3.99. The company has a debt-to-equity ratio of 1.81, a quick ratio of 21.44 and a current ratio of 21.44. The stock has a 50 day simple moving average of $2.33 and a two-hundred day simple moving average of $2.44.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.38). The business had revenue of $30.00 million for the quarter, compared to analyst estimates of $33.55 million. Claros Mortgage Trust had a negative return on equity of 19.70% and a negative net margin of 354.13%. On average, research analysts predict that Claros Mortgage Trust will post -1.76 earnings per share for the current year.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of CMTG. FNY Investment Advisers LLC acquired a new stake in shares of Claros Mortgage Trust during the second quarter worth about $205,000. Empowered Funds LLC acquired a new position in Claros Mortgage Trust in the 1st quarter worth approximately $212,000. Bank of America Corp DE raised its position in Claros Mortgage Trust by 41.0% during the 1st quarter. Bank of America Corp DE now owns 108,263 shares of the company’s stock worth $258,000 after buying an additional 31,494 shares during the last quarter. Renaissance Technologies LLC raised its position in Claros Mortgage Trust by 81.4% during the 1st quarter. Renaissance Technologies LLC now owns 48,800 shares of the company’s stock worth $116,000 after buying an additional 21,900 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Claros Mortgage Trust by 152.3% during the 1st quarter. Sei Investments Co. now owns 158,724 shares of the company’s stock valued at $378,000 after acquiring an additional 95,805 shares during the period. 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.