Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 8% – What’s Next?

Claros Mortgage Trust, Inc. (NYSE:CMTG) dropped 8% during mid-day trading on Tuesday . The company traded as low as $5.73 and last traded at $5.78. Approximately 148,867 shares were traded during trading, a decline of 56% from the average daily volume of 337,353 shares. The stock had previously closed at $6.28.

Analysts Set New Price Targets

Several brokerages have commented on CMTG. UBS Group lowered their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. JPMorgan Chase & Co. lowered their price objective on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company lowered Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a report on Friday, September 20th. Finally, Keefe, Bruyette & Woods increased their price target on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.44.

Claros Mortgage Trust Trading Down 9.6 %

The firm has a market capitalization of $602.05 million, a price-to-earnings ratio of -6.86 and a beta of 1.52. The business’s fifty day moving average is $6.50 and its 200 day moving average is $7.58. The company has a quick ratio of 20.68, a current ratio of 20.68 and a debt-to-equity ratio of 2.11.

Institutional Trading of Claros Mortgage Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Claros Mortgage Trust by 2,260.7% in the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after purchasing an additional 5,177 shares during the last quarter. GSA Capital Partners LLP bought a new position in Claros Mortgage Trust in the third quarter valued at $101,000. Intech Investment Management LLC acquired a new stake in Claros Mortgage Trust in the 3rd quarter valued at $114,000. SG Americas Securities LLC bought a new stake in Claros Mortgage Trust during the 3rd quarter worth about $150,000. Finally, Atria Investments Inc boosted its stake in shares of Claros Mortgage Trust by 29.2% during the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock worth $193,000 after buying an additional 5,823 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.