Claros Mortgage Trust (NYSE:CMTG – Get Free Report) had its price target reduced by stock analysts at Keefe, Bruyette & Woods from $2.50 to $2.15 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 22.51% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Wall Street Zen downgraded Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday. UBS Group began coverage on Claros Mortgage Trust in a report on Thursday, July 16th. They issued a “neutral” rating and a $2.75 price target for the company. Finally, Weiss Ratings upgraded Claros Mortgage Trust from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Claros Mortgage Trust has an average rating of “Strong Sell” and an average target price of $2.47.
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Claros Mortgage Trust Stock Down 1.4%
Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, research analysts predict that Claros Mortgage Trust will post -1.76 earnings per share for the current year.
Institutional Investors Weigh In On Claros Mortgage Trust
A number of large investors have recently made changes to their positions in CMTG. Bank of America Corp DE lifted its position in 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 acquiring an additional 31,494 shares during the period. Renaissance Technologies LLC grew its stake in Claros Mortgage Trust by 81.4% during 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 during the last quarter. Sei Investments Co. increased its holdings in shares of Claros Mortgage Trust by 152.3% in 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. Mariner LLC acquired a new position in shares of Claros Mortgage Trust in the fourth quarter valued at about $38,000. Finally, Focus Partners Wealth purchased a new position in shares of Claros Mortgage Trust in the third quarter worth about $34,000. 89.53% of the stock is owned by hedge funds and other institutional investors.
Claros Mortgage Trust Company Profile
Claros Mortgage Trust is a specialty finance company structured as a real estate investment trust that acquires and manages a portfolio of newly originated, conventional residential mortgage loans guaranteed or insured by U.S. government‐sponsored enterprises. The company concentrates on Agency collateral, including loans backed by Ginnie Mae, Fannie Mae and Freddie Mac, aiming to generate current income while preserving capital through high‐quality, credit‐enhanced assets.
Under an external management agreement with Claros Mortgage Capital Advisors LLC, the firm leverages a seasoned team to source, underwrite and service mortgage assets.
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