Wells Fargo & Company Cuts Claros Mortgage Trust (NYSE:CMTG) Price Target to $3.00

Claros Mortgage Trust (NYSE:CMTG - Free Report) had its target price cut by Wells Fargo & Company from $8.00 to $3.00 in a research note released on Tuesday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other brokerages have also recently weighed in on CMTG. Keefe, Bruyette & Woods dropped their price target on Claros Mortgage Trust from $6.50 to $4.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 14th. UBS Group raised Claros Mortgage Trust from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $8.00 to $6.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Claros Mortgage Trust presently has a consensus rating of "Hold" and an average price target of $4.31.

Claros Mortgage Trust Price Performance

Claros Mortgage Trust stock traded up $0.03 during midday trading on Tuesday, hitting $2.32. The company's stock had a trading volume of 2,722,261 shares, compared to its average volume of 782,576. The company has a quick ratio of 20.68, a current ratio of 25.67 and a debt-to-equity ratio of 2.08. The stock's 50-day moving average price is $3.58 and its 200-day moving average price is $5.83. Claros Mortgage Trust has a 12 month low of $2.22 and a 12 month high of $10.15. The company has a market capitalization of $322.63 million, a PE ratio of -1.46 and a beta of 1.57.

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Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. The firm had revenue of $60.23 million for the quarter, compared to analysts' expectations of $58.07 million. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. Analysts anticipate that Claros Mortgage Trust will post 0.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Claros Mortgage Trust

Several large investors have recently made changes to their positions in CMTG. Koch Inc. bought a new stake in shares of Claros Mortgage Trust in the 4th quarter valued at approximately $68,374,000. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Claros Mortgage Trust in the 3rd quarter valued at approximately $2,552,000. JPMorgan Chase & Co. lifted its holdings in Claros Mortgage Trust by 236.4% in the 3rd 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. Charles Schwab Investment Management Inc. lifted its holdings in Claros Mortgage Trust by 19.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,679,701 shares of the company's stock worth $7,592,000 after purchasing an additional 277,053 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Claros Mortgage Trust by 62.1% in the 4th quarter. Bank of New York Mellon Corp now owns 568,754 shares of the company's stock worth $2,571,000 after purchasing an additional 217,989 shares during the last quarter. 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.