Claros Mortgage Trust, Inc. (NYSE:CMTG) Given Average Rating of "Reduce" by Brokerages

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) has earned a consensus recommendation of "Reduce" from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $6.94.

CMTG has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a "neutral" rating for the company in a research report on Thursday, October 17th. UBS Group raised Claros Mortgage Trust from a "neutral" rating to a "buy" rating and reduced their target price for the company from $8.00 to $6.00 in a report on Friday. Wells Fargo & Company lowered Claros Mortgage Trust from an "equal weight" rating to an "underweight" rating and set a $8.00 price target on the stock. in a research note on Friday, September 20th. Finally, Keefe, Bruyette & Woods increased their price objective on Claros Mortgage Trust from $6.75 to $7.25 and gave the company an "underperform" rating in a research note on Tuesday, November 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CMTG. The Manufacturers Life Insurance Company increased its position in shares of Claros Mortgage Trust by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company's stock worth $369,000 after purchasing an additional 2,885 shares in the last quarter. Blue Trust Inc. lifted its stake in Claros Mortgage Trust by 2,260.7% in the third quarter. Blue Trust Inc. now owns 5,406 shares of the company's stock valued at $43,000 after buying an additional 5,177 shares during the last quarter. Atria Investments Inc grew its position in shares of Claros Mortgage Trust by 29.2% during the third quarter. Atria Investments Inc now owns 25,743 shares of the company's stock worth $193,000 after acquiring an additional 5,823 shares during the last quarter. State Street Corp grew its position in shares of Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company's stock worth $16,436,000 after acquiring an additional 6,882 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at $101,000. Hedge funds and other institutional investors own 89.53% of the company's stock.

Claros Mortgage Trust Stock Performance

NYSE:CMTG traded down $0.07 during trading hours on Friday, reaching $3.81. The company had a trading volume of 518,641 shares, compared to its average volume of 613,273. The firm has a market cap of $530.97 million, a PE ratio of -6.05 and a beta of 1.62. Claros Mortgage Trust has a 1-year low of $3.70 and a 1-year high of $12.86. The business's 50 day moving average price is $5.81 and its 200-day moving average price is $7.14. The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 20.68.

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.