Claros Mortgage Trust (NYSE:CMTG) Stock Rating Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen raised Claros Mortgage Trust’s rating from “strong sell” to “sell,” but analyst sentiment remains bleak: MarketBeat reports a “strong sell” consensus and an average price target of $2.08.
• Other analysts cut their price targets to $1.75, while maintaining underperform or underweight ratings. The stock opened at $1.60 and has traded between $1.09 and $3.62 over the past year.
• Claros beat quarterly estimates, reporting an $0.08-per-share loss versus analysts’ expected $0.39 loss, and revenue of $32.64 million versus $24.25 million expected. CEO Richard Mack also bought 200,000 shares at $1.59 each.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities analysts also recently weighed in on the company. Keefe, Bruyette & Woods reduced their price target on Claros Mortgage Trust from $2.15 to $1.75 and set an "underperform" rating for the company in a report on Friday, October 9th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Claros Mortgage Trust in a research note on Friday, October 30th. Finally, Wells Fargo & Company cut their price objective on shares of Claros Mortgage Trust from $2.50 to $1.75 and set an "underweight" rating on the stock in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Strong Sell" and an average price target of $2.08.

Claros Mortgage Trust Stock Performance

Claros Mortgage Trust stock opened at $1.60 on Friday. Claros Mortgage Trust has a twelve month low of $1.09 and a twelve month high of $3.62. The stock's 50 day moving average is $1.35 and its 200 day moving average is $2.07.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.31. Claros Mortgage Trust had a negative return on equity of 20.86% and a negative net margin of 371.29%. The business had revenue of $32.64 million during the quarter, compared to analysts' expectations of $24.25 million. On average, research analysts anticipate that Claros Mortgage Trust will post -2.56 EPS for the current year.

Insiders Place Their Bets

In other Claros Mortgage Trust news, CEO Richard Mack acquired 200,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were acquired at an average cost of $1.59 per share, with a total value of $318,000.00. Following the transaction, the chief executive officer owned 3,090,308 shares of the company's stock, valued at $4,913,589.72. The trade was a 6.92% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Claros Mortgage Trust

Institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new position in shares of Claros Mortgage Trust in the first quarter worth $37,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Claros Mortgage Trust during the second quarter valued at $53,000. Gallagher Fiduciary Advisors LLC purchased a new position in Claros Mortgage Trust in the 2nd quarter worth about $79,000. Renaissance Technologies LLC raised its position in Claros Mortgage Trust by 81.4% in the 1st quarter. Renaissance Technologies LLC now owns 48,800 shares of the company's stock worth $116,000 after buying an additional 21,900 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Claros Mortgage Trust during the 2nd quarter valued at about $205,000. Institutional investors own 89.53% of the company's stock.

Claros Mortgage Trust Company Profile

Claros Mortgage Trust, Inc. is a real estate investment trust focused on commercial real estate finance. It originates and invests in loans secured by commercial properties, with an emphasis on transitional properties that may need renovation, repositioning, or leasing before reaching more stable operations. The company's investments include senior mortgage loans and other forms of commercial real estate debt. Its lending activity primarily serves properties in U.S. markets, and its portfolio may span property types such as multifamily, office, and hospitality.

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