Claros Mortgage Trust (NYSE:CMTG) Hits New 52-Week Low – Here’s Why

Claros Mortgage Trust, Inc. (NYSE:CMTG) hit a new 52-week low during trading on Tuesday . The stock traded as low as $3.98 and last traded at $4.14, with a volume of 491164 shares traded. The stock had previously closed at $4.24.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CMTG shares. Keefe, Bruyette & Woods upped their price target on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. cut their target price 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. 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. Finally, UBS Group cut their price objective 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. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, Claros Mortgage Trust presently has a consensus rating of “Hold” and a consensus target price of $7.44.

Claros Mortgage Trust Stock 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 50-day moving average of $6.37 and a 200 day moving average of $7.49. The stock has a market capitalization of $576.96 million, a P/E ratio of -6.57 and a beta of 1.52.

Institutional Trading of Claros Mortgage Trust

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

About Claros Mortgage Trust

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.