Claros Mortgage Trust (NYSE:CMTG) Cut to Neutral at JPMorgan Chase & Co.

Claros Mortgage Trust (NYSE:CMTGGet Rating) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Monday, The Fly reports. They presently have a $19.00 price objective on the stock, up from their prior price objective of $18.00. JPMorgan Chase & Co.‘s target price points to a potential downside of 0.47% from the company’s current price.

Separately, Zacks Investment Research downgraded shares of Claros Mortgage Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, February 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.70.

Claros Mortgage Trust stock opened at $19.09 on Monday. Claros Mortgage Trust has a fifty-two week low of $14.96 and a fifty-two week high of $19.49. The firm has a 50 day moving average of $17.55.

Claros Mortgage Trust (NYSE:CMTGGet Rating) last posted its quarterly earnings results on Monday, March 14th. The company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.02. Equities analysts expect that Claros Mortgage Trust will post 1.33 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Sandia Investment Management LP acquired a new position in shares of Claros Mortgage Trust during the fourth quarter worth $246,000. Lindbrook Capital LLC purchased a new stake in Claros Mortgage Trust in the first quarter valued at $1,020,000. Norges Bank purchased a new stake in Claros Mortgage Trust in the fourth quarter valued at $1,163,000. Goldman Sachs Group Inc. purchased a new stake in Claros Mortgage Trust in the fourth quarter valued at $4,856,000. Finally, Millennium Management LLC purchased a new stake in Claros Mortgage Trust in the fourth quarter valued at $8,064,000. Hedge funds and other institutional investors own 12.97% of the company’s stock.

Claros Mortgage Trust Company Profile (Get Rating)

Claros Mortgage Trust, Inc, a commercial real estate (CRE) finance company, focuses on originating senior and subordinate loans on transitional CRE assets located in the United States markets. The company is qualified as a real estate investment trust (REIT) under the Internal Revenue Code. As a REIT, its net income would be exempt from federal taxation to the extent that it is distributed as dividends to shareholders.

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