Claros Mortgage Trust (NYSE:CMTG) Upgraded at Zacks Investment Research

Claros Mortgage Trust (NYSE:CMTGGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The firm currently has a $22.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 12.53% from the stock’s previous close.

According to Zacks, “Claros Mortgage Trust Inc. is a real estate investment trust which is focused primarily on originating senior and subordinate loans on transitional commercial real estate assets. Claros Mortgage Trust Inc. is based in NEW YORK. “

Separately, JPMorgan Chase & Co. cut shares of Claros Mortgage Trust from an “overweight” rating to a “neutral” rating and increased their price target for the company from $18.00 to $19.00 in a research note on Monday, April 25th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.10.

NYSE:CMTG traded down $0.45 during mid-day trading on Friday, hitting $19.55. The company’s stock had a trading volume of 465,262 shares, compared to its average volume of 57,452. Claros Mortgage Trust has a fifty-two week low of $14.96 and a fifty-two week high of $20.57. The company has a fifty day simple moving average of $18.00.

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Claros Mortgage Trust (NYSE:CMTGGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.07). The firm had revenue of $57.93 million for the quarter. Equities research analysts expect that Claros Mortgage Trust will post 1.42 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in CMTG. Teacher Retirement System of Texas acquired a new position in Claros Mortgage Trust during the fourth quarter worth $122,892,000. Wafra Inc. purchased a new stake in shares of Claros Mortgage Trust in the fourth quarter valued at about $68,000,000. Northern Trust Corp purchased a new stake in Claros Mortgage Trust during the fourth quarter worth about $40,975,000. Long Pond Capital LP purchased a new stake in Claros Mortgage Trust during the fourth quarter worth about $13,091,000. Finally, Millennium Management LLC purchased a new stake in Claros Mortgage Trust during the fourth quarter worth about $8,064,000. Hedge funds and other institutional investors own 54.78% of the company’s stock.

Claros Mortgage Trust Company Profile (Get Rating)

Claros Mortgage Trust, Inc is a real estate investment trust that focuses primarily on originating senior and subordinate loans on transitional commercial real estate assets located in principal markets across the United States. The company is qualified as a real estate investment trust (REIT) under the Internal Revenue Code.

Further Reading

Get a free copy of the Zacks research report on Claros Mortgage Trust (CMTG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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