Claros Mortgage Trust (NYSE:CMTG) Upgraded by UBS Group to “Buy” Rating

Claros Mortgage Trust (NYSE:CMTG) was upgraded by investment analysts at UBS Group from a “neutral” rating to a “buy” rating in a report issued on Friday, Marketbeat reports. The brokerage presently has a $6.00 price objective on the stock. UBS Group’s target price suggests a potential upside of 56.66% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Wells Fargo & Company lowered Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a research report on Friday, September 20th. Keefe, Bruyette & Woods lifted their target price on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $6.94.

Claros Mortgage Trust Price Performance

NYSE:CMTG traded down $0.05 on Friday, hitting $3.83. The company had a trading volume of 63,334 shares, compared to its average volume of 529,740. The firm has a 50 day moving average of $5.81 and a two-hundred day moving average of $7.14. The stock has a market capitalization of $533.76 million, a price-to-earnings ratio of -6.08 and a beta of 1.62. Claros Mortgage Trust has a 52 week low of $3.70 and a 52 week high of $12.86. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CMTG. State Street Corp raised its stake in Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after buying an additional 6,882 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Claros Mortgage Trust by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after purchasing an additional 188,950 shares during the period. Waterfall Asset Management LLC bought a new stake in shares of Claros Mortgage Trust during the 2nd quarter valued at about $4,448,000. JPMorgan Chase & Co. grew its stake in 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 during the period. Finally, Bank of New York Mellon Corp increased its holdings in Claros Mortgage Trust by 9.9% in the second quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after purchasing an additional 36,911 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.