Claros Mortgage Trust (NYSE:CMTG) Hits New 1-Year Low – Here’s What Happened

Claros Mortgage Trust, Inc. (NYSE:CMTG) reached a new 52-week low on Wednesday . The stock traded as low as $4.65 and last traded at $4.74, with a volume of 15308 shares changing hands. The stock had previously closed at $4.78.

Analysts Set New Price Targets

Several research firms have commented on CMTG. Keefe, Bruyette & Woods lifted their price objective 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. cut 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. 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 research note on Friday, September 20th. Finally, UBS Group cut their target price on Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.44.

Claros Mortgage Trust Trading Down 4.9 %

The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11. The stock has a 50-day simple moving average of $6.45 and a 200 day simple moving average of $7.56. The company has a market cap of $572.78 million, a price-to-earnings ratio of -6.52 and a beta of 1.52.

Institutional Trading of Claros Mortgage Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Waterfall Asset Management LLC purchased a new position in Claros Mortgage Trust in the second quarter valued at $4,448,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Claros Mortgage Trust in the 3rd quarter worth about $2,552,000. Charles Schwab Investment Management Inc. grew its holdings in Claros Mortgage Trust by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after purchasing an additional 188,950 shares during the period. Barclays PLC increased its position in shares of 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 buying an additional 106,289 shares in the last quarter. Finally, Zacks Investment Management raised its stake in shares of Claros Mortgage Trust by 26.1% during the 3rd quarter. Zacks Investment Management now owns 331,865 shares of the company’s stock worth $2,486,000 after buying an additional 68,749 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

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.