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

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $3.93 and last traded at $3.93, with a volume of 194606 shares. The stock had previously closed at $4.05.

Analysts Set New Price Targets

CMTG has been the topic of a number of recent research reports. 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 on the stock. in a research report on Friday, September 20th. UBS Group decreased their price objective on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. Keefe, Bruyette & Woods lifted their target price on Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock 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 company’s stock. According to data from MarketBeat.com, Claros Mortgage Trust has an average rating of “Hold” and a consensus price target of $7.44.

Claros Mortgage Trust Stock Performance

The stock has a market capitalization of $554.66 million, a P/E ratio of -6.32 and a beta of 1.62. The company has a 50-day moving average price of $5.95 and a two-hundred day moving average price of $7.22. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11.

Hedge Funds Weigh In On Claros Mortgage Trust

Several institutional investors have recently modified their holdings of the company. State Street Corp lifted 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 purchasing an additional 6,882 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Claros Mortgage Trust by 15.6% during 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 buying an additional 188,950 shares during the last quarter. Waterfall Asset Management LLC bought a new stake in Claros Mortgage Trust in the second quarter worth $4,448,000. JPMorgan Chase & Co. grew its stake in shares of Claros Mortgage Trust by 236.4% in the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after acquiring an additional 336,931 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Claros Mortgage Trust by 9.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after purchasing an additional 36,911 shares during the last quarter. 89.53% of the stock is currently 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.