Claros Mortgage Trust (NYSE:CMTG) Shares Down 8% – Here’s Why

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of 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 shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective for the company. in a report on Friday, September 20th. UBS Group cut 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. Finally, Keefe, Bruyette & Woods upped their target price on Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.44.

Claros Mortgage Trust Stock Down 23.2 %

The company has a debt-to-equity ratio of 2.11, a quick ratio of 20.68 and a current ratio of 20.68. The firm has a market capitalization of $671.73 million, a P/E ratio of -9.17 and a beta of 1.52. The stock has a fifty day moving average price of $6.57 and a two-hundred day moving average price of $7.63.

Institutional Trading of Claros Mortgage Trust

A number of institutional investors and hedge funds have recently modified their holdings of CMTG. Blue Trust Inc. boosted its position 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 during the period. GSA Capital Partners LLP acquired a new position in shares of Claros Mortgage Trust during the 3rd quarter valued at $101,000. Intech Investment Management LLC acquired a new position in shares of Claros Mortgage Trust in the 3rd quarter worth approximately $114,000. SG Americas Securities LLC acquired a new stake in shares of Claros Mortgage Trust during the third quarter worth $150,000. Finally, Atria Investments Inc raised its position in shares of Claros Mortgage Trust by 29.2% in the third quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock valued at $193,000 after purchasing an additional 5,823 shares during the period. 89.53% of the stock is 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.