Claros Mortgage Trust, Inc. (NYSE:CMTG) Given Average Recommendation of “Reduce” by Analysts

Claros Mortgage Trust, Inc. (NYSE:CMTG) has been given a consensus rating of “Reduce” by the six analysts that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $3.94.

A number of brokerages have commented on CMTG. UBS Group upped their target price on shares of Claros Mortgage Trust from $3.50 to $4.00 and gave the company a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods cut their price objective on shares of Claros Mortgage Trust from $2.50 to $2.25 and set an “underperform” rating for the company in a research report on Monday, May 12th. Finally, Wells Fargo & Company reduced their price objective 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.

Insiders Place Their Bets

In other Claros Mortgage Trust news, CFO Mike Mcgillis acquired 24,115 shares of the stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $3.30 per share, for a total transaction of $79,579.50. Following the completion of the transaction, the chief financial officer now directly owns 475,945 shares of the company’s stock, valued at approximately $1,570,618.50. The trade was a 5.34% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard Mack bought 115,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $3.19 per share, with a total value of $366,850.00. Following the transaction, the chief executive officer now directly 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 disclosure for this purchase can be found here. Insiders bought a total of 169,115 shares of company stock worth $547,930 over the last three months. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Claros Mortgage Trust

Several institutional investors and hedge funds have recently modified their holdings of CMTG. Koch Inc. bought a new stake in Claros Mortgage Trust in the 4th quarter valued at $68,374,000. Charles Schwab Investment Management Inc. grew its position in shares of Claros Mortgage Trust by 31.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,203,104 shares of the company’s stock valued at $8,218,000 after purchasing an additional 523,403 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Claros Mortgage Trust by 236.4% in the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after purchasing an additional 336,931 shares during the last quarter. Algert Global LLC lifted its position in shares of Claros Mortgage Trust by 374.5% in the first quarter. Algert Global LLC now owns 423,103 shares of the company’s stock worth $1,578,000 after buying an additional 333,937 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Claros Mortgage Trust by 50.3% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 752,920 shares of the company’s stock worth $2,808,000 after buying an additional 251,920 shares in the last quarter. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Performance

Shares of CMTG opened at $2.38 on Thursday. The firm has a market capitalization of $330.99 million, a P/E ratio of -1.49 and a beta of 1.17. The company has a debt-to-equity ratio of 2.08, a current ratio of 25.67 and a quick ratio of 20.68. Claros Mortgage Trust has a one year low of $2.13 and a one year high of $9.81. The business has a fifty day moving average of $2.88 and a 200 day moving average of $3.98.

Claros Mortgage Trust (NYSE:CMTG) last announced its earnings results on Wednesday, May 7th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.07. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. The business had revenue of $44.50 million for the quarter, compared to analysts’ expectations of $41.91 million. As a group, sell-side analysts anticipate that Claros Mortgage Trust will post 0.27 EPS for the current year.

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.