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

Claros Mortgage Trust, Inc. (NYSE:CMTG) has earned a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.44.

A number of analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Wells Fargo & Company cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective for the company. in a report on Friday, September 20th. Keefe, Bruyette & Woods upped their target price on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. decreased their price target on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, October 17th.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors have recently modified their holdings of CMTG. Bank of New York Mellon Corp increased its position in shares of Claros Mortgage Trust by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after purchasing an additional 36,911 shares during the period. Waterfall Asset Management LLC acquired a new position in shares of Claros Mortgage Trust in the 2nd quarter valued at approximately $4,448,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Claros Mortgage Trust by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock worth $369,000 after acquiring an additional 2,885 shares during the period. Algert Global LLC bought a new position in Claros Mortgage Trust in the second quarter valued at approximately $224,000. Finally, SG Americas Securities LLC acquired a new position in Claros Mortgage Trust during the third quarter valued at approximately $150,000. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Down 2.8 %

NYSE:CMTG opened at $3.89 on Friday. The stock has a 50-day simple moving average of $5.85 and a 200 day simple moving average of $7.17. Claros Mortgage Trust has a 52-week low of $3.82 and a 52-week high of $12.86. The company has a market cap of $542.12 million, a PE ratio of -6.17 and a beta of 1.62. The company has a debt-to-equity ratio of 2.11, a quick ratio of 20.68 and a current 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.