Claros Mortgage Trust (NYSE:CMTG – Get 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.
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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