Keefe, Bruyette & Woods Lowers Claros Mortgage Trust (NYSE:CMTG) Price Target to $2.50

Claros Mortgage Trust (NYSE:CMTG) had its target price decreased by Keefe, Bruyette & Woods from $3.00 to $2.50 in a research report issued on Monday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 7.76% from the company’s current price.

CMTG has been the subject of a number of other research reports. Wall Street Zen downgraded shares of Claros Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Wells Fargo & Company lowered their price objective on shares of Claros Mortgage Trust from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Friday, February 20th. UBS Group cut their target price on Claros Mortgage Trust from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Claros Mortgage Trust in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Claros Mortgage Trust presently has a consensus rating of “Reduce” and an average target price of $3.00.

Claros Mortgage Trust Trading Up 0.4%

CMTG opened at $2.32 on Monday. The stock has a market capitalization of $325.31 million, a price-to-earnings ratio of -0.66 and a beta of 1.21. The company has a quick ratio of 21.44, a current ratio of 21.44 and a debt-to-equity ratio of 1.72. Claros Mortgage Trust has a twelve month low of $2.13 and a twelve month high of $4.30. The company has a 50-day simple moving average of $2.76 and a 200 day simple moving average of $3.17.

Insiders Place Their Bets

In other news, CFO Mike Mcgillis purchased 20,000 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was bought at an average cost of $2.34 per share, for a total transaction of $46,800.00. Following the purchase, the chief financial officer owned 603,007 shares of the company’s stock, valued at approximately $1,411,036.38. The trade was a 3.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director W Edward Walter acquired 25,000 shares of Claros Mortgage Trust stock in a transaction that occurred on Tuesday, February 24th. The shares were purchased at an average price of $2.28 per share, for a total transaction of $57,000.00. Following the transaction, the director directly owned 32,000 shares in the company, valued at $72,960. The trade was a 357.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 95,000 shares of company stock valued at $224,300. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Claros Mortgage Trust

Large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Claros Mortgage Trust by 9.6% during the second quarter. The Manufacturers Life Insurance Company now owns 36,223 shares of the company’s stock valued at $103,000 after purchasing an additional 3,163 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Claros Mortgage Trust by 75.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,938 shares of the company’s stock valued at $25,000 after buying an additional 3,854 shares during the last quarter. Renaissance Technologies LLC boosted its position in Claros Mortgage Trust by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 26,900 shares of the company’s stock worth $82,000 after buying an additional 4,200 shares during the period. Tower Research Capital LLC TRC boosted its position in Claros Mortgage Trust by 53.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,193 shares of the company’s stock worth $49,000 after buying an additional 5,976 shares during the period. Finally, Vident Advisory LLC grew its holdings in Claros Mortgage Trust by 10.3% during the 4th quarter. Vident Advisory LLC now owns 71,360 shares of the company’s stock worth $218,000 after acquiring an additional 6,655 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

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.