Claros Mortgage Trust (NYSE:CMTG) Shares Down 5.4% – What’s Next?

Claros Mortgage Trust, Inc. (NYSE:CMTG) fell 5.4% during mid-day trading on Monday . The stock traded as low as $3.98 and last traded at $4.01. 169,439 shares traded hands during trading, a decline of 51% from the average session volume of 345,375 shares. The stock had previously closed at $4.24.

Analysts Set New Price Targets

CMTG has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their target price on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective for the company. in a research report on Friday, September 20th. UBS Group decreased their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.44.

Claros Mortgage Trust Stock Performance

The company has a market capitalization of $592.29 million, a PE ratio of -6.75 and a beta of 1.52. The stock has a 50-day simple moving average of $6.37 and a 200 day simple moving average of $7.49. The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 20.68.

Hedge Funds Weigh In On Claros Mortgage Trust

Several hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Claros Mortgage Trust by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock valued at $369,000 after purchasing an additional 2,885 shares in the last quarter. Blue Trust Inc. lifted its stake in Claros Mortgage Trust by 2,260.7% in the 3rd quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after buying an additional 5,177 shares in the last quarter. Atria Investments Inc grew its holdings in Claros Mortgage Trust by 29.2% during the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock valued at $193,000 after buying an additional 5,823 shares during the last quarter. State Street Corp increased its position 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 in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Claros Mortgage Trust in the third quarter worth $101,000. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Claros Mortgage Trust Company Profile

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.