UBS Group Issues Pessimistic Forecast for Claros Mortgage Trust (NYSE:CMTG) Stock Price

Claros Mortgage Trust (NYSE:CMTG) had its price objective lowered by UBS Group from $8.50 to $8.00 in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other brokerages have also recently issued reports on CMTG. Wells Fargo & Company cut shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a report on Friday, September 20th. BTIG Research assumed coverage on shares of Claros Mortgage Trust in a research report on Friday, July 19th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods increased their price objective on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.44.

Claros Mortgage Trust Trading Down 2.6 %

NYSE CMTG opened at $6.53 on Friday. The company’s 50-day moving average price is $7.04 and its 200-day moving average price is $7.87. The company has a current ratio of 20.68, a quick ratio of 28.19 and a debt-to-equity ratio of 2.11. The stock has a market cap of $909.34 million, a PE ratio of -10.35 and a beta of 1.51. Claros Mortgage Trust has a 12 month low of $6.08 and a 12 month high of $15.25.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Claros Mortgage Trust by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock valued at $111,810,000 after acquiring an additional 30,377 shares during the period. State Street Corp grew its stake in Claros Mortgage Trust by 0.3% in the 3rd quarter. State Street Corp now owns 2,165,863 shares of the company’s stock valued at $16,436,000 after acquiring an additional 6,882 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Claros Mortgage Trust by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock worth $10,506,000 after purchasing an additional 188,950 shares during the last quarter. Waterfall Asset Management LLC acquired a new stake in Claros Mortgage Trust during the 2nd quarter worth $4,448,000. Finally, Bank of New York Mellon Corp boosted its stake in Claros Mortgage Trust by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after purchasing an additional 36,911 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

About Claros Mortgage Trust

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.