Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 2.9% – Time to Sell?

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

Analyst Ratings Changes

CMTG has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their price objective on Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a research report on Friday, September 20th. Finally, UBS Group lowered their price target on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, Claros Mortgage Trust has an average rating of “Hold” and an average target price of $7.44.

Claros Mortgage Trust Stock Performance

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 stock has a market cap of $624.35 million, a P/E ratio of -7.11 and a beta of 1.52. The stock has a fifty day simple moving average of $6.00 and a 200-day simple moving average of $7.26.

Hedge Funds Weigh In On Claros Mortgage Trust

Several institutional investors have recently modified their holdings of the business. Waterfall Asset Management LLC acquired a new position in Claros Mortgage Trust in the 2nd quarter worth $4,448,000. State Street Corp raised its position in Claros Mortgage Trust by 0.3% in the 3rd quarter. State Street Corp now owns 2,165,863 shares of the company’s stock valued at $16,436,000 after buying an additional 6,882 shares during the last quarter. Atria Investments Inc lifted its stake in Claros Mortgage Trust by 29.2% in the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock valued at $193,000 after acquiring an additional 5,823 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Claros Mortgage Trust by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock worth $10,506,000 after acquiring an additional 188,950 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Claros Mortgage Trust during the 3rd quarter worth approximately $101,000. Institutional investors own 89.53% of the company’s stock.

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.