Claros Mortgage Trust (NYSE:CMTG) Hits New 12-Month Low – Here’s What Happened

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

Analysts Set New Price Targets

A number of research analysts have weighed in on CMTG shares. Wells Fargo & Company lowered shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research note on Friday, September 20th. UBS Group lowered their price objective on Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Keefe, Bruyette & Woods raised their target price on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.44.

Claros Mortgage Trust Price Performance

The stock has a 50-day simple moving average of $6.33 and a 200 day simple moving average of $7.46. The company has a market cap of $592.29 million, a PE ratio of -6.75 and a beta of 1.52. The company has a quick ratio of 20.68, a current ratio of 20.68 and a debt-to-equity ratio of 2.11.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Claros Mortgage Trust by 15.6% during 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 acquiring an additional 188,950 shares during the period. Waterfall Asset Management LLC acquired a new position in Claros Mortgage Trust in the 2nd quarter valued at about $4,448,000. Bank of New York Mellon Corp increased its stake in Claros Mortgage Trust by 9.9% during the second 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 period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Claros Mortgage Trust during the third quarter worth about $2,552,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.