As Benzinga reports, the price target for Claros Mortgage Trust (NYSE:CMTG – Get Free Report ) was raised by equity researchers at JPMorgan Chase from $8.50 to $9.00 in a report released on Tuesday. The firm currently rates the stock as “neutral.” JPMorgan Chase's price target indicates a potential downside of 2.17% from the stock's previous closing price.
Several other equities analysts have also recently issued reports on the stock. UBS Group lowered their price target on Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. JMP Securities reaffirmed their “market average” rating on Claros Mortgage Trust in a report on Tuesday, June 11th. Wells Fargo & Company lowered their price target on Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 8th. Finally, Keefe, Bruyette & Woods lowered their price target on Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating for the company in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell recommendation and four have rated it with a hold recommendation. The company has a consensus rating of “hold” and an average price target of $9.38, according to MarketBeat data.
Read the latest CMTG research report
Claros Mortgage Trust shares rose 3.6%
NYSE CMTG opened trading at $9.20 on Tuesday. The company has a market cap of $1.28 billion, a P/E ratio of -14.84 and a beta of 1.52. Claros Mortgage Trust's 52-week low is $6.80 and its 52-week high is $15.25. The company's quick ratio is 26.27, current ratio is 26.27 and debt-to-equity ratio is 2.07. The company's 50-day moving average price is $8.17 and its 200-day moving average price is $9.55.
Claros Mortgage Trust (NYSE:CMTG – get free report ) announced its quarterly earnings on Monday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.04. Claros Mortgage Trust had a positive return on equity of 1.51% and a negative net margin of 28.16%. Revenues for the quarter were $58.83 million, beating the consensus estimate of $63.64 million. Sell-side analysts, as a whole, expect Claros Mortgage Trust to post EPS of $0.14 for the current fiscal year.
Insider Trading at Claros Mortgage Trust
In related news, Director, W Edward Walter acquired 7,000 shares of the company's stock in a transaction on Tuesday, May 28th. The shares were acquired at an average price of $7.21 per share, for a total value of $50,470.00. With this acquisition, the director now directly owns 13,760 shares of the company's stock, valued at approximately $99,209.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink . In other news, CEO, Richard Mack purchased 116,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $7.18 per share, for a total value of $832,880.00. Following the completion of the acquisition, the CEO will own 2,551,853 shares of the company's stock, valued at approximately $18,322,304.54. The transaction was disclosed in a filing with the Securities and Exchange Commission, which can be accessed on the SEC's website. Additionally, Director W Edward Walter acquired 7,000 shares of the company's stock in a transaction on Tuesday, May 28th. The shares were purchased at an average price of $7.21 per share, for a total value of $50,470.00. Following the acquisition, the director will directly own 13,760 shares of the company's stock, valued at approximately $99,209.60. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 193,000 shares of the company's stock for $1,393,140. 1.40% of the stock is owned by insiders.
Institutional Investors Invest in Claros Mortgage Trust
Hedge funds recently modified their holdings of the company. Covestor Ltd increased its holdings in Claros Mortgage Trust by 349.4% in the first quarter. Covestor Ltd now owns 10,897 shares of the company's stock valued at $106,000 after purchasing an additional 8,472 shares during the period. SG Americas Securities LLC increased its holdings in Claros Mortgage Trust by 32.2% in the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company's stock valued at $106,000 after purchasing an additional 2,651 shares during the quarter. Simplicity Wealth LLC acquired a new position in Claros Mortgage Trust shares in the second quarter worth $121,000. MQS Management LLC bought a new stake in Claros Mortgage Trust in the first quarter valued at $128,000. Finally, Lazard Asset Management LLC bought a new stake in Claros Mortgage Trust in the first quarter valued at $140,000. 89.53% of the stock is owned by hedge funds and other institutional investors.
Claros Mortgage Trust Company Profile
(Get your free report)
Claros Mortgage Trust, Inc operates as a real estate investment trust. The company focuses on originating senior and subordinated 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, the portion of its net income distributed to shareholders is not subject to corporate income taxes.
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