Claros Mortgage Trust (NYSE:CMTG) Price Target Lowered to $9.00 at Wells Fargo & Company

Claros Mortgage Trust (NYSE:CMTG) had its price objective lowered by equities researchers at Wells Fargo & Company from $11.00 to $9.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 8.04% from the stock’s current price.

A number of other research firms also recently commented on CMTG. UBS Group cut their price objective on shares of Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, March 20th. Keefe, Bruyette & Woods cut their price objective on shares of Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating for the company in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, April 10th.

Claros Mortgage Trust Stock Up 1.3 %

CMTG opened at $8.33 on Wednesday. Claros Mortgage Trust has a twelve month low of $8.15 and a twelve month high of $15.25. The company has a quick ratio of 25.03, a current ratio of 25.03 and a debt-to-equity ratio of 2.09. The company has a 50-day moving average price of $9.26 and a 200 day moving average price of $10.92. The company has a market cap of $1.16 billion, a PE ratio of -13.44 and a beta of 1.59.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.19. The firm had revenue of $75.98 million during the quarter, compared to the consensus estimate of $72.79 million. Claros Mortgage Trust had a net margin of 1.97% and a return on equity of 2.01%. Sell-side analysts expect that Claros Mortgage Trust will post 0.66 earnings per share for the current fiscal year.

Institutional Trading of Claros Mortgage Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in CMTG. State of New Jersey Common Pension Fund D purchased a new position in shares of Claros Mortgage Trust during the 3rd quarter worth approximately $710,000. Penserra Capital Management LLC boosted its position in shares of Claros Mortgage Trust by 14.4% during the 3rd quarter. Penserra Capital Management LLC now owns 44,986 shares of the company’s stock worth $498,000 after purchasing an additional 5,671 shares during the period. Van ECK Associates Corp boosted its position in shares of Claros Mortgage Trust by 1.7% during the 4th quarter. Van ECK Associates Corp now owns 322,173 shares of the company’s stock worth $4,391,000 after purchasing an additional 5,465 shares during the period. New York State Common Retirement Fund boosted its position in shares of Claros Mortgage Trust by 28.9% during the 3rd quarter. New York State Common Retirement Fund now owns 74,041 shares of the company’s stock worth $820,000 after purchasing an additional 16,602 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in shares of Claros Mortgage Trust by 5.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 51,908 shares of the company’s stock worth $575,000 after purchasing an additional 2,639 shares during the period. 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.