Keefe, Bruyette & Woods Issues Pessimistic Forecast for Claros Mortgage Trust (NYSE:CMTG) Stock Price

Claros Mortgage Trust (NYSE:CMTG) had its price target reduced by stock analysts at Keefe, Bruyette & Woods from $2.50 to $2.25 in a report issued on Monday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 13.79% from the company’s previous close.

Several other analysts have also recently issued reports on CMTG. UBS Group lowered their price objective on shares of Claros Mortgage Trust from $5.25 to $3.50 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company lowered their price objective on shares of Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating for the company in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Claros Mortgage Trust currently has a consensus rating of “Hold” and an average target price of $3.81.

Claros Mortgage Trust Stock Up 0.8%

Shares of NYSE CMTG opened at $2.61 on Monday. Claros Mortgage Trust has a 1 year low of $2.13 and a 1 year high of $9.81. The firm’s 50 day moving average price is $3.00 and its 200 day moving average price is $4.13. The firm has a market cap of $363.74 million, a P/E ratio of -1.64 and a beta of 1.17. The company has a debt-to-equity ratio of 2.08, a quick ratio of 20.68 and a current ratio of 25.67.

Claros Mortgage Trust (NYSE:CMTG) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.07. The business had revenue of $44.50 million for the quarter, compared to analyst estimates of $41.91 million. Claros Mortgage Trust had a negative net margin of 89.07% and a positive return on equity of 4.72%. As a group, sell-side analysts anticipate that Claros Mortgage Trust will post 0.27 earnings per share for the current year.

Insiders Place Their Bets

In other Claros Mortgage Trust news, CFO Mike Mcgillis purchased 24,115 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $3.30 per share, with a total value of $79,579.50. Following the transaction, the chief financial officer now owns 475,945 shares in the company, valued at approximately $1,570,618.50. This trade represents a 5.34% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard Mack purchased 115,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $3.19 per share, with a total value of $366,850.00. Following the completion of the transaction, the chief executive officer now owns 2,564,981 shares in the company, valued at $8,182,289.39. This trade represents a 4.69% increase in their position. The disclosure for this purchase can be found here. Insiders bought 169,115 shares of company stock worth $547,930 over the last three months. 1.40% of the stock is owned by insiders.

Institutional Trading of Claros Mortgage Trust

A number of institutional investors have recently added to or reduced their stakes in CMTG. Barclays PLC lifted its position in shares of Claros Mortgage Trust by 332.1% during the third quarter. Barclays PLC now owns 138,291 shares of the company’s stock worth $1,037,000 after purchasing an additional 106,289 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Claros Mortgage Trust by 236.4% during the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after purchasing an additional 336,931 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Claros Mortgage Trust by 18.4% during the fourth quarter. SG Americas Securities LLC now owns 23,769 shares of the company’s stock worth $107,000 after purchasing an additional 3,694 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Claros Mortgage Trust by 501.4% during the fourth quarter. Blue Trust Inc. now owns 32,509 shares of the company’s stock worth $147,000 after purchasing an additional 27,103 shares in the last quarter. Finally, Arlington Trust Co LLC acquired a new position in shares of Claros Mortgage Trust during the fourth quarter worth $43,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.