Wells Fargo & Company Has Lowered Expectations for Claros Mortgage Trust (NYSE:CMTG) Stock Price

Claros Mortgage Trust (NYSE:CMTG) had its target price lowered by analysts at Wells Fargo & Company from $3.00 to $2.50 in a report issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 1.42% from the company’s previous close.

A number of other research firms also recently issued reports on CMTG. Weiss Ratings reissued a “sell (d)” rating on shares of Claros Mortgage Trust in a research report on Monday, December 29th. Wall Street Zen raised Claros Mortgage Trust from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Keefe, Bruyette & Woods dropped their price objective on shares of Claros Mortgage Trust from $3.25 to $3.00 and set an “underperform” rating on the stock in a report on Thursday, January 8th. Finally, UBS Group cut their target price on shares of Claros Mortgage Trust from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, November 14th. One investment analyst has rated the stock with a Buy rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $3.17.

Claros Mortgage Trust Stock Performance

CMTG traded down $0.14 during midday trading on Friday, reaching $2.47. The company had a trading volume of 344,934 shares, compared to its average volume of 412,407. Claros Mortgage Trust has a 12-month low of $2.13 and a 12-month high of $4.30. The business has a 50-day moving average price of $2.92 and a two-hundred day moving average price of $3.22. The stock has a market cap of $345.64 million, a PE ratio of -0.70 and a beta of 1.20. The company has a debt-to-equity ratio of 1.79, a quick ratio of 26.00 and a current ratio of 26.00.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC bought a new position in Claros Mortgage Trust in the 1st quarter valued at $78,000. Jane Street Group LLC lifted its stake in Claros Mortgage Trust by 620.9% in the first quarter. Jane Street Group LLC now owns 185,147 shares of the company’s stock worth $691,000 after purchasing an additional 159,465 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Claros Mortgage Trust in the first quarter valued at approximately $126,000. Strs Ohio bought a new position in shares of Claros Mortgage Trust in the 1st quarter worth approximately $61,000. Finally, CWM LLC lifted its position in Claros Mortgage Trust by 332.1% during the second quarter. CWM LLC now owns 17,654 shares of the company’s stock valued at $50,000 after buying an additional 13,568 shares during the period. 89.53% of the stock is owned by hedge funds and other institutional investors.

About Claros Mortgage Trust

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.