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

Claros Mortgage Trust (NYSE:CMTG) had its price objective reduced by UBS Group from $8.50 to $8.00 in a research note issued to investors on Friday,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company lowered Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a research report on Friday, September 20th. Keefe, Bruyette & Woods lifted their price objective on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research note on Tuesday, November 12th. 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. Finally, BTIG Research assumed coverage on shares of Claros Mortgage Trust in a report on Friday, July 19th. They set a “neutral” rating for the company. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.44.

Claros Mortgage Trust Price Performance

CMTG stock opened at $6.70 on Friday. The company has a market capitalization of $933.73 million, a P/E ratio of -10.63 and a beta of 1.51. The company has a fifty day moving average price of $7.04 and a 200-day moving average price of $7.88. The company has a debt-to-equity ratio of 2.11, a quick ratio of 28.19 and a current ratio of 20.68. Claros Mortgage Trust has a 52-week low of $6.08 and a 52-week high of $15.25.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Claros Mortgage Trust by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock worth $111,810,000 after buying an additional 30,377 shares in the last quarter. State Street Corp grew its holdings in Claros Mortgage Trust by 0.3% in the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after purchasing an additional 6,882 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Claros Mortgage Trust by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after purchasing an additional 188,950 shares in the last quarter. Waterfall Asset Management LLC acquired a new position in shares of Claros Mortgage Trust during the second quarter valued at about $4,448,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Claros Mortgage Trust by 9.9% during the 2nd 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 in the last quarter. 89.53% of the stock is currently owned by institutional investors.

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.