Wells Fargo & Company Issues Pessimistic Forecast for Claros Mortgage Trust (NYSE:CMTG) Stock Price

Claros Mortgage Trust (NYSE:CMTG) had its price objective decreased by equities research analysts at Wells Fargo & Company from $8.00 to $3.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.91% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reduced their price objective on Claros Mortgage Trust from $6.50 to $4.00 and set an “underperform” rating for the company in a research note on Tuesday, January 14th. UBS Group upgraded shares of Claros Mortgage Trust from a “neutral” rating to a “buy” rating and reduced their target price 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 issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.88.

Claros Mortgage Trust Trading Down 5.7 %

Shares of Claros Mortgage Trust stock traded down $0.17 on Tuesday, reaching $2.71. The company had a trading volume of 54,665 shares, compared to its average volume of 627,971. Claros Mortgage Trust has a 52-week low of $2.74 and a 52-week high of $10.15. The company has a debt-to-equity ratio of 2.08, a quick ratio of 20.68 and a current ratio of 25.67. The firm’s 50 day moving average price is $3.70 and its two-hundred day moving average price is $5.92. The firm has a market cap of $376.98 million, a PE ratio of -1.71 and a beta of 1.57.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The company had revenue of $60.23 million during the quarter, compared to the consensus estimate of $58.07 million. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. Sell-side analysts predict that Claros Mortgage Trust will post 0.27 earnings per share for the current fiscal year.

Institutional Trading of Claros Mortgage Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Koch Inc. acquired a new position in Claros Mortgage Trust during the fourth quarter worth about $68,374,000. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Claros Mortgage Trust during the 3rd quarter worth approximately $2,552,000. JPMorgan Chase & Co. grew its holdings in shares of 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 acquiring an additional 336,931 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 valued at $7,592,000 after purchasing an additional 277,053 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake 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 valued at $2,571,000 after purchasing an additional 217,989 shares in the last quarter. Institutional investors and hedge funds 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.