Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 8% – Time to Sell?

Claros Mortgage Trust, Inc. (NYSE:CMTG) dropped 8% on Tuesday . The company traded as low as $5.73 and last traded at $5.78. Approximately 148,867 shares changed hands during trading, a decline of 56% from the average daily volume of 337,353 shares. The stock had previously closed at $6.28.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CMTG shares. 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 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. Keefe, Bruyette & Woods raised their price objective on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a report on Tuesday, November 12th. Finally, UBS Group dropped their price target on Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating for the company 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.44.

Claros Mortgage Trust Stock Performance

The stock’s 50 day simple moving average is $6.50 and its two-hundred day simple moving average is $7.58. The company has a market capitalization of $602.05 million, a P/E ratio of -6.86 and a beta of 1.52. The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 20.68.

Institutional Investors Weigh In On Claros Mortgage Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Waterfall Asset Management LLC acquired a new position in shares of Claros Mortgage Trust during the second quarter valued at $4,448,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Claros Mortgage Trust during the 3rd quarter valued at about $2,552,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Claros Mortgage Trust by 15.6% in 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 purchasing an additional 188,950 shares during the last quarter. Barclays PLC grew its position in shares of Claros Mortgage Trust by 332.1% during the 3rd quarter. Barclays PLC now owns 138,291 shares of the company’s stock worth $1,037,000 after buying an additional 106,289 shares during the period. Finally, Zacks Investment Management raised its stake in shares of Claros Mortgage Trust by 26.1% during the third 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 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.