Claros Mortgage Trust (NYSE:CMTG) Given New $3.50 Price Target at UBS Group

Claros Mortgage Trust (NYSE:CMTG) had its price target trimmed by UBS Group from $5.25 to $3.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms also recently weighed in on CMTG. Wells Fargo & Company cut their price target on Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating for the company in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods cut their price objective on shares of Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.88.

Claros Mortgage Trust Stock Performance

Shares of CMTG opened at $2.28 on Wednesday. Claros Mortgage Trust has a 52 week low of $2.13 and a 52 week high of $9.81. The company has a debt-to-equity ratio of 2.08, a quick ratio of 20.68 and a current ratio of 25.67. The company has a market capitalization of $317.75 million, a PE ratio of -1.43 and a beta of 1.12. The company’s 50 day moving average price is $3.11 and its 200 day moving average price is $4.67.

Claros Mortgage Trust (NYSE:CMTG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Claros Mortgage Trust had a negative net margin of 89.07% and a positive return on equity of 4.72%. The business had revenue of $60.23 million for the quarter, compared to analysts’ expectations of $58.07 million. Research analysts expect that Claros Mortgage Trust will post 0.27 EPS for the current fiscal year.

Insider Activity at Claros Mortgage Trust

In other news, CEO Richard Mack bought 115,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $3.19 per share, for a total transaction of $366,850.00. Following the purchase, the chief executive officer now owns 2,564,981 shares of the company’s stock, valued at $8,182,289.39. This represents a 4.69 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mike Mcgillis bought 24,115 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $3.30 per share, with a total value of $79,579.50. Following the transaction, the chief financial officer now owns 475,945 shares in the company, valued at approximately $1,570,618.50. The trade was a 5.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 169,115 shares of company stock valued at $547,930. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Claros Mortgage Trust

Hedge funds have recently added to or reduced their stakes in the business. Koch Inc. acquired a new position in shares of Claros Mortgage Trust during the fourth quarter worth approximately $68,374,000. Squarepoint Ops LLC bought a new position in Claros Mortgage Trust during the fourth quarter worth $46,000. ProShare Advisors LLC raised its stake in Claros Mortgage Trust by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 24,311 shares of the company’s stock valued at $110,000 after purchasing an additional 7,999 shares during the last quarter. Quantinno Capital Management LP bought a new stake in Claros Mortgage Trust in the 4th quarter valued at $115,000. Finally, Millennium Management LLC boosted its holdings in Claros Mortgage Trust by 38.4% in the 4th quarter. Millennium Management LLC now owns 135,388 shares of the company’s stock valued at $612,000 after purchasing an additional 37,548 shares during the period. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Company Profile

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.