Claros Mortgage Trust (NYSE:CMTG) Trading Down 5.4% – Here’s Why

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) traded down 5.4% on Monday . The stock traded as low as $3.98 and last traded at $4.01. 169,439 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 345,375 shares. The stock had previously closed at $4.24.

Analyst Ratings Changes

Several research firms have issued reports on CMTG. Keefe, Bruyette & Woods raised their price target on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on shares of 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. Wells Fargo & Company lowered Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research note on Friday, September 20th. Finally, UBS Group lowered their price objective on Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.44.

Claros Mortgage Trust Stock Up 2.7 %

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 stock has a market cap of $592.29 million, a price-to-earnings ratio of -6.75 and a beta of 1.52. The firm’s 50-day moving average is $6.37 and its 200 day moving average is $7.49.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CMTG. Blue Trust Inc. grew its position in Claros Mortgage Trust by 2,260.7% during the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after acquiring an additional 5,177 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at about $101,000. Intech Investment Management LLC purchased a new stake in shares of Claros Mortgage Trust during the 3rd quarter worth about $114,000. SG Americas Securities LLC acquired a new stake in Claros Mortgage Trust during the 3rd quarter worth approximately $150,000. Finally, Atria Investments Inc raised its holdings in 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 during the period. 89.53% of the stock is owned by hedge funds and other 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.