Claros Mortgage Trust (NYSE:CMTG) Trading Down 2.9% – What’s Next?

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMTG. Wells Fargo & Company cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target for the company. in a report on Friday, September 20th. JPMorgan Chase & Co. reduced their target price on 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. UBS Group dropped their price target on 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. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, Claros Mortgage Trust currently has an average rating of “Hold” and an average target price of $7.44.

Claros Mortgage Trust Trading Down 4.9 %

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

Institutional Investors Weigh In On Claros Mortgage Trust

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock valued at $16,436,000 after acquiring an additional 6,882 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Claros Mortgage Trust by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after buying an additional 188,950 shares in the last quarter. Waterfall Asset Management LLC acquired a new position in shares of Claros Mortgage Trust during the second quarter valued at about $4,448,000. JPMorgan Chase & Co. increased its position in shares of Claros Mortgage Trust by 236.4% during the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after acquiring an additional 336,931 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Claros Mortgage Trust by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after acquiring an additional 36,911 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.