Claros Mortgage Trust (NYSE:CMTG) Shares Down 2.9% – What’s Next?

Claros Mortgage Trust, Inc. (NYSE:CMTG) was down 2.9% during trading on Thursday . The stock traded as low as $4.33 and last traded at $4.39. Approximately 53,208 shares changed hands during trading, a decline of 85% from the average daily volume of 350,991 shares. The stock had previously closed at $4.52.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. UBS Group decreased their price target on Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. reduced their target price on 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.44.

Claros Mortgage Trust Price Performance

The company has a quick ratio of 20.68, a current ratio of 20.68 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $624.35 million, a price-to-earnings ratio of -7.11 and a beta of 1.52. The company’s 50 day moving average is $6.00 and its 200 day moving average is $7.26.

Hedge Funds Weigh In On Claros Mortgage Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CMTG. Blue Trust Inc. raised its position in shares of Claros Mortgage Trust by 2,260.7% in the 3rd quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after buying an additional 5,177 shares in the last quarter. GSA Capital Partners LLP bought a new position in Claros Mortgage Trust in the third quarter valued at approximately $101,000. Intech Investment Management LLC acquired a new position in Claros Mortgage Trust during the third quarter valued at approximately $114,000. SG Americas Securities LLC bought a new stake in Claros Mortgage Trust during the third quarter worth $150,000. Finally, Atria Investments Inc boosted its holdings in shares of Claros Mortgage Trust by 29.2% in the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock valued at $193,000 after purchasing an additional 5,823 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

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.