Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 5.3% – Here’s What Happened

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) traded down 5.3% during mid-day trading on Tuesday . The company traded as low as $6.39 and last traded at $6.39. 43,167 shares traded hands during trading, a decline of 87% from the average session volume of 341,597 shares. The stock had previously closed at $6.75.

Wall Street Analyst Weigh In

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

Claros Mortgage Trust Price Performance

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 company has a 50-day moving average of $6.74 and a 200 day moving average of $7.72.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors have recently made changes to their positions in CMTG. Price T Rowe Associates Inc. MD lifted its position in Claros Mortgage Trust by 9.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 81,059 shares of the company’s stock valued at $792,000 after acquiring an additional 7,062 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in Claros Mortgage Trust in the second quarter valued at $121,000. Gladius Capital Management LP acquired a new stake in shares of Claros Mortgage Trust in the second quarter valued at approximately $33,000. Bank of New York Mellon Corp increased its position in Claros Mortgage Trust by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after buying an additional 36,911 shares in the last quarter. Finally, Levin Capital Strategies L.P. boosted its stake in shares of Claros Mortgage Trust by 400.0% during the second quarter. Levin Capital Strategies L.P. now owns 50,000 shares of the company’s stock valued at $401,000 after acquiring an additional 40,000 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.