Claros Mortgage Trust (NYSE:CMTG) Trading Down 2.9% – Here’s Why

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price traded down 2.9% on Thursday . The company traded as low as $4.33 and last traded at $4.39. 53,208 shares were traded during mid-day trading, a decline of 85% from the average session volume of 350,991 shares. The stock had previously closed at $4.52.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CMTG shares. Wells Fargo & Company cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research report on Friday, September 20th. JPMorgan Chase & Co. cut 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 research report on Thursday, October 17th. Keefe, Bruyette & Woods upped their price target on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research note on Tuesday, November 12th. Finally, UBS Group reduced their price objective 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. Two research 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, Claros Mortgage Trust presently has an average rating of “Hold” and a consensus target price of $7.44.

Claros Mortgage Trust Price Performance

The business’s 50-day moving average price is $6.08 and its 200 day moving average price is $7.31. The company has a quick ratio of 20.68, a current ratio of 20.68 and a debt-to-equity ratio of 2.11. The company has a market capitalization of $599.26 million, a P/E ratio of -6.83 and a beta of 1.52.

Hedge Funds Weigh In On Claros Mortgage Trust

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

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.