Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 5.4% – Time to Sell?

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

Analysts Set New Price Targets

Several brokerages have weighed in on CMTG. Wells Fargo & Company cut shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a research note on Friday, September 20th. Keefe, Bruyette & Woods increased their price target on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. cut their price objective on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, October 17th. Finally, UBS Group decreased their target price on 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.44.

Claros Mortgage Trust Stock Performance

The stock has a market cap of $579.75 million, a price-to-earnings ratio of -6.60 and a beta of 1.52. 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 firm has a fifty day simple moving average of $6.42 and a 200-day simple moving average of $7.52.

Institutional Trading of Claros Mortgage Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Claros Mortgage Trust by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock worth $369,000 after purchasing an additional 2,885 shares during the period. Blue Trust Inc. boosted its holdings 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 worth $43,000 after buying an additional 5,177 shares during the last quarter. Atria Investments Inc grew its position in shares of Claros Mortgage Trust by 29.2% during the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock worth $193,000 after buying an additional 5,823 shares during the period. State Street Corp increased its stake in shares of 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 acquiring an additional 6,882 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Claros Mortgage Trust in the 3rd quarter valued at approximately $101,000. 89.53% of the stock is owned by 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.