Claros Mortgage Trust (NYSE:CMTG) Price Target Cut to $2.25 by Analysts at Keefe, Bruyette & Woods

Claros Mortgage Trust (NYSE:CMTG) had its target price dropped by equities research analysts at Keefe, Bruyette & Woods from $2.50 to $2.25 in a report issued on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 2.04% from the company’s current price.

CMTG has been the subject of several other reports. Wall Street Zen raised shares of Claros Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded Claros Mortgage Trust from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Finally, Wells Fargo & Company lowered their price target on Claros Mortgage Trust from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $2.92.

Claros Mortgage Trust Trading Down 1.6%

CMTG stock traded down $0.04 during midday trading on Wednesday, hitting $2.21. The company had a trading volume of 45,226 shares, compared to its average volume of 489,629. The company has a current ratio of 21.44, a quick ratio of 21.44 and a debt-to-equity ratio of 1.53. Claros Mortgage Trust has a 52 week low of $2.05 and a 52 week high of $3.99. The stock’s 50 day moving average price is $2.45 and its 200 day moving average price is $2.82. The stock has a market cap of $309.19 million, a price-to-earnings ratio of -0.66 and a beta of 1.18.

Claros Mortgage Trust (NYSE:CMTG) last issued its earnings results on Wednesday, May 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.28). The firm had revenue of $29.52 million during the quarter, compared to the consensus estimate of $36.94 million. Claros Mortgage Trust had a negative return on equity of 19.34% and a negative net margin of 267.14%. As a group, equities research analysts expect that Claros Mortgage Trust will post -1.66 earnings per share for the current fiscal year.

Insider Activity at Claros Mortgage Trust

In related news, Director W Edward Walter bought 25,000 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were acquired at an average cost of $2.28 per share, with a total value of $57,000.00. Following the completion of the acquisition, the director owned 32,000 shares of the company’s stock, valued at $72,960. The trade was a 357.14% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Mack bought 50,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of $2.41 per share, for a total transaction of $120,500.00. Following the completion of the purchase, the chief executive officer owned 2,717,330 shares of the company’s stock, valued at approximately $6,548,765.30. The trade was a 1.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 95,000 shares of company stock valued at $224,300 in the last 90 days. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Claros Mortgage Trust

Several large investors have recently modified their holdings of CMTG. BNP Paribas Financial Markets boosted its stake in Claros Mortgage Trust by 75.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,938 shares of the company’s stock worth $25,000 after purchasing an additional 3,854 shares in the last quarter. Focus Partners Wealth bought a new stake in Claros Mortgage Trust during the 3rd quarter valued at about $34,000. Wealth Enhancement Advisory Services LLC purchased a new position in Claros Mortgage Trust in the third quarter worth about $34,000. Mariner LLC purchased a new position in Claros Mortgage Trust in the fourth quarter worth about $38,000. Finally, Jump Financial LLC bought a new position in shares of Claros Mortgage Trust in the second quarter worth approximately $44,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Company Profile

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.