Claros Mortgage Trust (NYSE:CMTG) Shares Gap Down – Should You Sell?

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $7.61, but opened at $7.19. Claros Mortgage Trust shares last traded at $7.13, with a volume of 4,892 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CMTG shares. JPMorgan Chase & Co. reduced their price target on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Keefe, Bruyette & Woods upped their target price on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research report on Tuesday. BTIG Research began coverage on shares of Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating for the company. Finally, 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 report on Friday, September 20th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, Claros Mortgage Trust presently has an average rating of “Hold” and an average price target of $7.94.

Claros Mortgage Trust Trading Down 0.6 %

The business has a 50 day moving average price of $7.09 and a 200 day moving average price of $7.91. The company has a debt-to-equity ratio of 2.11, a quick ratio of 28.19 and a current ratio of 20.68.

Hedge Funds Weigh In On Claros Mortgage Trust

Several institutional investors have recently made changes to their positions in the company. Gladius Capital Management LP bought a new position in Claros Mortgage Trust in the second quarter worth about $33,000. Blue Trust Inc. raised its position in 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 purchasing an additional 5,177 shares during the period. GSA Capital Partners LLP acquired a new position in Claros Mortgage Trust during the 3rd quarter worth about $101,000. Covestor Ltd grew its holdings in shares of Claros Mortgage Trust by 349.4% in the first quarter. Covestor Ltd now owns 10,897 shares of the company’s stock valued at $106,000 after purchasing an additional 8,472 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Claros Mortgage Trust by 32.2% in the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock valued at $106,000 after buying an additional 2,651 shares during the period. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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.