Claros Mortgage Trust (NYSE:CMTG) Trading Down 2.9% - Here's Why

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

Wall Street Analyst Weigh In

CMTG has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered 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 report on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price target on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an "underperform" rating in a report on Tuesday, November 12th. UBS Group decreased their price objective on Claros Mortgage Trust from $8.50 to $8.00 and set a "neutral" rating on the stock in a report on Friday, November 15th. 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 for the company. in a report on Friday, September 20th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, Claros Mortgage Trust currently has a consensus rating of "Hold" and an average price target of $7.44.

Claros Mortgage Trust Stock Performance

The stock has a 50 day moving average of $6.08 and a 200 day moving average of $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 firm has a market cap of $604.84 million, a price-to-earnings ratio of -6.89 and a beta of 1.52.

Institutional Investors Weigh In On Claros Mortgage Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in shares of Claros Mortgage Trust by 236.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company's stock worth $3,591,000 after buying an additional 336,931 shares in the last quarter. Barclays PLC grew its position in Claros Mortgage Trust by 332.1% in the third quarter. Barclays PLC now owns 138,291 shares of the company's stock valued at $1,037,000 after acquiring an additional 106,289 shares during the last quarter. Zacks Investment Management raised its stake in Claros Mortgage Trust by 26.1% during the third quarter. Zacks Investment Management now owns 331,865 shares of the company's stock worth $2,486,000 after acquiring an additional 68,749 shares in the last quarter. State Street Corp lifted its holdings in shares of Claros Mortgage Trust by 0.3% in 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 last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Claros Mortgage Trust in the 3rd quarter valued at approximately $2,552,000. 89.53% of the stock is currently owned by institutional investors.

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.