Claros Mortgage Trust (NYSE:CMTG) Price Target Cut to $1.75 by Analysts at Keefe, Bruyette & Woods

Claros Mortgage Trust (NYSE:CMTG) had its price objective decreased by Keefe, Bruyette & Woods from $2.15 to $1.75 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 41.70% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Wall Street Zen cut Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 1st. Wells Fargo & Company cut their price target on Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings lowered shares of Claros Mortgage Trust from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. Finally, UBS Group initiated coverage on shares of Claros Mortgage Trust in a research note on Thursday, July 16th. They issued a “neutral” rating and a $2.75 price objective on the stock. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Claros Mortgage Trust presently has a consensus rating of “Strong Sell” and a consensus target price of $2.08.

Claros Mortgage Trust Stock Performance

NYSE CMTG traded down $0.01 during trading on Friday, reaching $1.24. The company’s stock had a trading volume of 63,090 shares, compared to its average volume of 621,174. The firm has a market cap of $174.24 million, a price-to-earnings ratio of -0.32 and a beta of 1.16. Claros Mortgage Trust has a twelve month low of $1.16 and a twelve month high of $3.62. The business’s fifty day moving average price is $1.56 and its 200-day moving average price is $2.09.

Claros Mortgage Trust (NYSE:CMTG) last announced its earnings results on Wednesday, July 29th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.38). Claros Mortgage Trust had a negative return on equity of 19.70% and a negative net margin of 354.13%.The business had revenue of $30.00 million for the quarter, compared to analyst estimates of $33.55 million. As a group, sell-side analysts forecast that Claros Mortgage Trust will post -2.67 EPS for the current fiscal year.

Insider Activity at Claros Mortgage Trust

In other Claros Mortgage Trust news, CFO Mike Mcgillis purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average cost of $1.71 per share, for a total transaction of $42,750.00. Following the completion of the purchase, the chief financial officer directly owned 749,000 shares in the company, valued at $1,280,790. This represents a 3.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Mack acquired 20,603 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were acquired at an average cost of $1.59 per share, for a total transaction of $32,758.77. Following the acquisition, the chief executive officer directly owned 3,110,911 shares of the company’s stock, valued at $4,946,348.49. This trade represents a 0.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 245,603 shares of company stock valued at $393,509 over the last three months. Insiders own 2.60% of the company’s stock.

Institutional Trading of Claros Mortgage Trust

Institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in shares of Claros Mortgage Trust during the first quarter valued at $37,000. Renaissance Technologies LLC lifted its holdings in Claros Mortgage Trust by 81.4% in the 1st quarter. Renaissance Technologies LLC now owns 48,800 shares of the company’s stock valued at $116,000 after purchasing an additional 21,900 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in Claros Mortgage Trust in the 2nd quarter valued at about $53,000. Bank of America Corp DE boosted its stake in shares of Claros Mortgage Trust by 41.0% during the 1st quarter. Bank of America Corp DE now owns 108,263 shares of the company’s stock worth $258,000 after purchasing an additional 31,494 shares during the last quarter. Finally, Gallagher Fiduciary Advisors LLC purchased a new stake in shares of Claros Mortgage Trust during the second quarter worth about $79,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Company Profile

Claros Mortgage Trust (NYSE:CMTG) is a commercial mortgage real estate investment trust that originates, acquires and manages commercial real estate loans. The company primarily focuses on loans secured by institutional-quality properties, including office, multifamily, hotel, industrial and other commercial assets.

Its portfolio has historically emphasized transitional commercial real estate, meaning properties that may require renovation, repositioning, lease-up or other improvements before reaching stabilized operations.