UBS Group Begins Coverage on Claros Mortgage Trust (NYSE:CMTG)

Analysts at UBS Group began coverage on shares of Claros Mortgage Trust (NYSE:CMTG) in a note issued to investors on Thursday, Marketbeat.com reports. The firm set a “neutral” rating and a $2.75 price target on the stock. UBS Group’s price objective suggests a potential upside of 20.35% from the stock’s current price.

A number of other research analysts have also commented on CMTG. Keefe, Bruyette & Woods cut their target price on Claros Mortgage Trust from $2.50 to $2.25 and set an “underperform” rating for the company in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Claros Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Weiss Ratings cut shares of Claros Mortgage Trust from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Sell” and an average price target of $2.50.

Claros Mortgage Trust Stock Down 1.5%

Shares of CMTG opened at $2.29 on Thursday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 21.44 and a current ratio of 21.44. The company has a 50-day simple moving average of $2.36 and a 200-day simple moving average of $2.52. Claros Mortgage Trust has a 52 week low of $2.05 and a 52 week high of $3.99. The firm has a market capitalization of $320.40 million, a P/E ratio of -0.69 and a beta of 1.13.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Wednesday, May 6th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). The firm had revenue of $29.52 million for the quarter, compared to analyst estimates of $36.94 million. Claros Mortgage Trust had a negative return on equity of 19.34% and a negative net margin of 267.14%. On average, equities research analysts expect that Claros Mortgage Trust will post -1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its position in Claros Mortgage Trust by 9.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,223 shares of the company’s stock valued at $103,000 after buying an additional 3,163 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Claros Mortgage Trust by 75.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 8,938 shares of the company’s stock valued at $25,000 after acquiring an additional 3,854 shares in the last quarter. Renaissance Technologies LLC boosted its position in Claros Mortgage Trust by 18.5% during the 4th quarter. Renaissance Technologies LLC now owns 26,900 shares of the company’s stock worth $82,000 after acquiring an additional 4,200 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Claros Mortgage Trust by 53.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,193 shares of the company’s stock worth $49,000 after acquiring an additional 5,976 shares during the last quarter. Finally, Vident Advisory LLC grew its stake in shares of Claros Mortgage Trust by 10.3% during the 4th quarter. Vident Advisory LLC now owns 71,360 shares of the company’s stock worth $218,000 after acquiring an additional 6,655 shares in the last quarter. 89.53% of the stock is owned by 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.