JPMorgan Chase & Co. Trims Claros Mortgage Trust (NYSE:CMTG) Target Price to $6.50

Claros Mortgage Trust (NYSE:CMTG) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $9.00 to $6.50 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 2.85% from the stock’s previous close.

A number of other research analysts have also issued reports on CMTG. Wells Fargo & Company lowered shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research note on Friday, September 20th. Keefe, Bruyette & Woods lowered their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating on the stock in a research note on Monday, August 12th. Finally, BTIG Research initiated coverage on shares of Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.13.

Claros Mortgage Trust Stock Down 2.6 %

Shares of CMTG traded down $0.17 during mid-day trading on Thursday, hitting $6.32. 26,106 shares of the company’s stock were exchanged, compared to its average volume of 340,208. The firm has a fifty day moving average of $7.59 and a two-hundred day moving average of $8.23. Claros Mortgage Trust has a twelve month low of $6.08 and a twelve month high of $15.25. The stock has a market cap of $876.88 million, a price-to-earnings ratio of -10.18 and a beta of 1.49. The company has a quick ratio of 28.19, a current ratio of 28.19 and a debt-to-equity ratio of 2.12.

Claros Mortgage Trust (NYSE:CMTG) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.07 by $0.10. Claros Mortgage Trust had a negative net margin of 35.47% and a positive return on equity of 3.30%. The company had revenue of $64.49 million for the quarter, compared to analyst estimates of $64.25 million. On average, sell-side analysts forecast that Claros Mortgage Trust will post 0.15 earnings per share for the current year.

Institutional Trading of Claros Mortgage Trust

Several hedge funds and other institutional investors have recently bought and sold shares of CMTG. Gladius Capital Management LP acquired a new position in Claros Mortgage Trust in the second quarter valued at about $33,000. SG Americas Securities LLC grew its position in Claros Mortgage Trust by 32.2% during the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock worth $106,000 after acquiring an additional 2,651 shares during the last quarter. Covestor Ltd increased its holdings in Claros Mortgage Trust by 349.4% during the 1st quarter. Covestor Ltd now owns 10,897 shares of the company’s stock valued at $106,000 after purchasing an additional 8,472 shares in the last quarter. MQS Management LLC bought a new position in Claros Mortgage Trust in the first quarter valued at approximately $128,000. Finally, Lazard Asset Management LLC acquired a new stake in Claros Mortgage Trust during the 1st quarter worth $140,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.