UBS Group Lowers Claros Mortgage Trust (NYSE:CMTG) Price Target to $8.00

Claros Mortgage Trust (NYSE:CMTG) had its target price dropped by investment analysts at UBS Group from $8.50 to $8.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 17.30% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company downgraded 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 report on Friday, September 20th. BTIG Research assumed coverage on Claros Mortgage Trust in a research report on Friday, July 19th. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods raised their target price on Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.44.

Claros Mortgage Trust Price Performance

NYSE:CMTG traded down $0.14 during trading hours on Friday, reaching $6.82. 35,011 shares of the company were exchanged, compared to its average volume of 340,990. The company has a market capitalization of $950.44 million, a P/E ratio of -10.83 and a beta of 1.51. Claros Mortgage Trust has a 1-year low of $6.08 and a 1-year high of $15.25. The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 28.19. The business has a 50 day moving average of $7.08 and a 200 day moving average of $7.91.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of large investors have recently modified their holdings of the business. ProShare Advisors LLC lifted its stake in shares of Claros Mortgage Trust by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $159,000 after acquiring an additional 1,284 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Claros Mortgage Trust by 32.2% in the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock valued at $106,000 after acquiring an additional 2,651 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Claros Mortgage Trust by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock valued at $369,000 after acquiring an additional 2,885 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Claros Mortgage Trust in the 2nd quarter valued at $33,000. Finally, Blue Trust Inc. lifted its stake in shares of Claros Mortgage Trust by 2,260.7% in the 3rd quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after acquiring an additional 5,177 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.