Claros Mortgage Trust (NYSE:CMTG) Hits New 12-Month Low – Should You Sell?

Claros Mortgage Trust, Inc. (NYSE:CMTG) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $6.07 and last traded at $6.07, with a volume of 128469 shares. The stock had previously closed at $6.29.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CMTG shares. Wells Fargo & Company lowered shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target for the company. in a research report on Friday, September 20th. Keefe, Bruyette & Woods upped 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 report on Tuesday, November 12th. UBS Group dropped their price target on shares of 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. Finally, JPMorgan Chase & Co. decreased their price objective 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. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, Claros Mortgage Trust has a consensus rating of “Hold” and an average target price of $7.44.

Claros Mortgage Trust Stock Down 3.3 %

The firm has a market capitalization of $847.31 million, a PE ratio of -9.98 and a beta of 1.52. The firm’s 50 day moving average price is $6.66 and its two-hundred day moving average price is $7.68. The company has a quick ratio of 20.68, a current ratio of 20.68 and a debt-to-equity ratio of 2.11.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CMTG. State Street Corp boosted its stake in Claros Mortgage Trust by 0.3% during the 3rd quarter. State Street Corp now owns 2,165,863 shares of the company’s stock valued at $16,436,000 after acquiring an additional 6,882 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $10,506,000 after acquiring an additional 188,950 shares during the last quarter. Waterfall Asset Management LLC bought a new position in Claros Mortgage Trust during the 2nd quarter valued at $4,448,000. Bank of New York Mellon Corp boosted its stake in Claros Mortgage Trust by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock valued at $3,278,000 after acquiring an additional 36,911 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in Claros Mortgage Trust during the 3rd quarter valued at $2,552,000. 89.53% of the stock is currently owned by hedge funds and other 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.