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

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s share price fell 8% on Tuesday . The stock 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.

Analyst Ratings Changes

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

Claros Mortgage Trust Stock Down 23.2 %

The company has a market capitalization of $671.73 million, a price-to-earnings ratio of -9.17 and a beta of 1.52. The firm has a 50-day moving average price of $6.57 and a two-hundred day moving average price of $7.63. The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 20.68.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Waterfall Asset Management LLC bought a new stake in Claros Mortgage Trust during the second quarter worth approximately $4,448,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in Claros Mortgage Trust during the 3rd quarter valued at approximately $2,552,000. Charles Schwab Investment Management Inc. grew its position in Claros Mortgage Trust by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock worth $10,506,000 after purchasing an additional 188,950 shares in the last quarter. Barclays PLC lifted its holdings in shares of Claros Mortgage Trust by 332.1% in the third quarter. Barclays PLC now owns 138,291 shares of the company’s stock worth $1,037,000 after buying an additional 106,289 shares in the last quarter. Finally, Zacks Investment Management grew its position in Claros Mortgage Trust by 26.1% during the third quarter. Zacks Investment Management now owns 331,865 shares of the company’s stock valued at $2,486,000 after acquiring an additional 68,749 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About Claros Mortgage Trust

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.