Claros Mortgage Trust (NYSE:CMTG) Reaches New 12-Month Low - What's Next?

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $3.56 and last traded at $3.64, with a volume of 428967 shares changing hands. The stock had previously closed at $3.86.

Analyst Ratings Changes

Several research firms have recently weighed in on CMTG. UBS Group raised shares of Claros Mortgage Trust from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $8.00 to $6.00 in a report on Friday, January 10th. Keefe, Bruyette & Woods lowered their target price on shares of Claros Mortgage Trust from $6.50 to $4.00 and set an "underperform" rating on the stock in a report on Tuesday, January 14th. 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 on the stock in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $6.13.

Claros Mortgage Trust Trading Down 3.7 %

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 market capitalization of $487.06 million, a price-to-earnings ratio of -5.62 and a beta of 1.62. The business's 50-day simple moving average is $5.38 and its 200-day simple moving average is $6.92.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The business had revenue of $64.88 million for the quarter, compared to the consensus estimate of $69.48 million. Claros Mortgage Trust had a negative net margin of 32.75% and a positive return on equity of 5.60%. During the same period last year, the company posted ($0.16) EPS. On average, research analysts expect that Claros Mortgage Trust, Inc. will post -0.09 earnings per share for the current fiscal year.

Institutional Trading of Claros Mortgage Trust

A number of hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its stake in Claros Mortgage Trust by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company's stock worth $369,000 after purchasing an additional 2,885 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Claros Mortgage Trust by 18.4% in the fourth quarter. SG Americas Securities LLC now owns 23,769 shares of the company's stock valued at $107,000 after buying an additional 3,694 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Claros Mortgage Trust by 2,260.7% in the third quarter. Blue Trust Inc. now owns 5,406 shares of the company's stock valued at $43,000 after buying an additional 5,177 shares in the last quarter. Atria Investments Inc grew its stake in shares of Claros Mortgage Trust by 29.2% in the third quarter. Atria Investments Inc now owns 25,743 shares of the company's stock valued at $193,000 after buying an additional 5,823 shares in the last quarter. Finally, State Street Corp lifted its holdings in Claros Mortgage Trust by 0.3% during the 3rd quarter. State Street Corp now owns 2,165,863 shares of the company's stock valued at $16,436,000 after purchasing an additional 6,882 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.