Claros Mortgage Trust (NYSE:CMTG) Sets New 12-Month Low - Time to Sell?

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $4.65 and last traded at $4.74, with a volume of 15308 shares trading hands. The stock had previously closed at $4.78.

Analysts Set New Price Targets

Several brokerages have recently commented on CMTG. JPMorgan Chase & Co. dropped their price target on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a "neutral" rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company downgraded shares of Claros Mortgage Trust from an "equal weight" rating to an "underweight" rating and set a $8.00 target price on the stock. in a research report on Friday, September 20th. Keefe, Bruyette & Woods boosted their price target on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an "underperform" rating in a research report on Tuesday, November 12th. Finally, UBS Group decreased their price target on 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 equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $7.44.

Claros Mortgage Trust Stock Down 9.6 %

The stock has a market cap of $602.05 million, a P/E ratio of -6.86 and a beta of 1.52. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11. The firm's fifty day moving average is $6.53 and its 200 day moving average is $7.60.

Hedge Funds Weigh In On Claros Mortgage Trust

Institutional investors have recently made changes to their positions in the business. State Street Corp increased its position in Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company's stock worth $16,436,000 after acquiring an additional 6,882 shares during the period. 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 during the last quarter. Waterfall Asset Management LLC bought a new position in shares of Claros Mortgage Trust during the 2nd quarter worth about $4,448,000. Bank of New York Mellon Corp raised its position in shares of 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 valued at $3,278,000 after buying an additional 36,911 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Claros Mortgage Trust in the third quarter valued at about $2,552,000. 89.53% of the stock is currently owned by 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.