Wells Fargo & Company Issues Pessimistic Forecast for Claros Mortgage Trust (NYSE:CMTG) Stock Price

Claros Mortgage Trust (NYSE:CMTG) had its price objective decreased by Wells Fargo & Company from $3.00 to $2.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 5.71% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. UBS Group dropped their target price on shares of Claros Mortgage Trust from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, November 14th. Wall Street Zen raised shares of Claros Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Keefe, Bruyette & Woods decreased their target price on shares of Claros Mortgage Trust from $3.25 to $3.00 and set an “underperform” rating on the stock in a research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Claros Mortgage Trust in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $3.17.

Claros Mortgage Trust Stock Down 9.0%

Shares of Claros Mortgage Trust stock opened at $2.37 on Friday. The company has a quick ratio of 26.00, a current ratio of 21.44 and a debt-to-equity ratio of 1.72. Claros Mortgage Trust has a 12-month low of $2.13 and a 12-month high of $4.30. The stock has a market capitalization of $331.62 million, a P/E ratio of -0.68 and a beta of 1.20. The stock has a 50 day moving average price of $2.89 and a two-hundred day moving average price of $3.22.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of hedge funds have recently modified their holdings of CMTG. Hotchkis & Wiley Capital Management LLC boosted its holdings in Claros Mortgage Trust by 53.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,805,395 shares of the company’s stock valued at $5,994,000 after acquiring an additional 632,105 shares during the last quarter. LM Asset Management Inc. bought a new position in Claros Mortgage Trust during the 4th quarter worth approximately $1,634,000. Charles Schwab Investment Management Inc. lifted its position in shares of Claros Mortgage Trust by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,621,983 shares of the company’s stock worth $11,083,000 after purchasing an additional 383,859 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Claros Mortgage Trust by 22.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,946,597 shares of the company’s stock valued at $5,548,000 after purchasing an additional 362,130 shares during the last quarter. Finally, Algert Global LLC increased its position in shares of Claros Mortgage Trust by 880.8% during the third quarter. Algert Global LLC now owns 383,686 shares of the company’s stock worth $1,274,000 after buying an additional 344,566 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

About Claros Mortgage Trust

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.