Keefe, Bruyette & Woods Cuts Claros Mortgage Trust (NYSE:CMTG) Price Target to $2.15

Claros Mortgage Trust (NYSE:CMTG) had its price objective trimmed by Keefe, Bruyette & Woods from $2.50 to $2.15 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Several other equities analysts have also recently issued reports on CMTG. Weiss Ratings upgraded Claros Mortgage Trust from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. UBS Group initiated coverage on shares of Claros Mortgage Trust in a research note on Thursday, July 16th. They set a “neutral” rating and a $2.75 target price on the stock. Finally, Wall Street Zen lowered shares of Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Claros Mortgage Trust presently has a consensus rating of “Strong Sell” and a consensus target price of $2.22.

Claros Mortgage Trust Stock Up 3.2%

Shares of NYSE CMTG opened at $1.75 on Tuesday. The stock has a market cap of $247.60 million, a P/E ratio of -0.46 and a beta of 1.16. The company has a current ratio of 21.44, a quick ratio of 21.44 and a debt-to-equity ratio of 1.81. Claros Mortgage Trust has a 12-month low of $1.65 and a 12-month high of $3.99. The business’s fifty day simple moving average is $2.31 and its 200-day simple moving average is $2.42.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Wednesday, July 29th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.38). Claros Mortgage Trust had a negative return on equity of 19.70% and a negative net margin of 354.13%.The company had revenue of $30.00 million for the quarter, compared to analyst estimates of $33.55 million. As a group, equities analysts predict that Claros Mortgage Trust will post -1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in Claros Mortgage Trust in the first quarter valued at $78,000. Jane Street Group LLC boosted its position in shares of Claros Mortgage Trust by 620.9% during the 1st quarter. Jane Street Group LLC now owns 185,147 shares of the company’s stock worth $691,000 after acquiring an additional 159,465 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Claros Mortgage Trust during the 1st quarter worth about $126,000. Strs Ohio purchased a new position in shares of Claros Mortgage Trust in the 1st quarter valued at about $61,000. Finally, Rhumbline Advisers increased its holdings in shares of Claros Mortgage Trust by 5.6% in the 2nd quarter. Rhumbline Advisers now owns 138,276 shares of the company’s stock valued at $394,000 after acquiring an additional 7,301 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Claros Mortgage Trust Company Profile

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.