Claros Mortgage Trust (NYSE:CMTG – Get Free Report) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday, Wall Street Zen reports.
A number of other research firms have also recently commented on CMTG. Wells Fargo & Company reduced their price objective on Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating for the company in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Claros Mortgage Trust in a research report on Friday, October 30th. Finally, Keefe, Bruyette & Woods cut their price target on Claros Mortgage Trust from $2.15 to $1.75 and set an “underperform” rating for the company in a research note on Friday, October 9th. One investment analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Strong Sell” and an average price target of $2.08.
Read Our Latest Research Report on Claros Mortgage Trust
Claros Mortgage Trust Trading Up 1.6%
Shares of CMTG opened at $1.60 on Friday. The firm has a fifty day simple moving average of $1.35 and a two-hundred day simple moving average of $2.07. Claros Mortgage Trust has a 1-year low of $1.09 and a 1-year high of $3.62.
Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.31. The firm had revenue of $32.64 million for the quarter, compared to analysts’ expectations of $24.25 million. Claros Mortgage Trust had a negative return on equity of 20.86% and a negative net margin of 371.29%. As a group, analysts forecast that Claros Mortgage Trust will post -2.56 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Claros Mortgage Trust news, CEO Richard Mack purchased 200,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were acquired at an average cost of $1.59 per share, for a total transaction of $318,000.00. Following the completion of the transaction, the chief executive officer owned 3,090,308 shares of the company’s stock, valued at approximately $4,913,589.72. The trade was a 6.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.
Institutional Investors Weigh In On Claros Mortgage Trust
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. grew its holdings in Claros Mortgage Trust by 152.3% during the first quarter. Sei Investments Co. now owns 158,724 shares of the company’s stock valued at $378,000 after purchasing an additional 95,805 shares during the period. Empowered Funds LLC bought a new position in shares of Claros Mortgage Trust in the first quarter worth about $212,000. FNY Investment Advisers LLC bought a new position in shares of Claros Mortgage Trust in the second quarter worth about $205,000. Gallagher Fiduciary Advisors LLC bought a new position in shares of Claros Mortgage Trust in the second quarter worth about $79,000. Finally, Bank of America Corp DE lifted its position 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 valued at $258,000 after buying an additional 31,494 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.
About Claros Mortgage Trust
Claros Mortgage Trust, Inc. is a real estate investment trust focused on commercial real estate finance. It originates and invests in loans secured by commercial properties, with an emphasis on transitional properties that may need renovation, repositioning, or leasing before reaching more stable operations. The company’s investments include senior mortgage loans and other forms of commercial real estate debt. Its lending activity primarily serves properties in U.S. markets, and its portfolio may span property types such as multifamily, office, and hospitality.
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