Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 4.6% - Time to Sell?

Key Points

• Claros Mortgage Trust (CMTG) shares fell 4.6% during trading, reaching a low of $3.66, with trading volume down 85% compared to the average.
• Analysts have mixed ratings on CMTG, with one brokerage maintaining a "buy" rating and a price target increase to $4.00, while others have assigned underperform and sell ratings.
• 89.53% of CMTG's stock is owned by institutional investors, reflecting significant interest in the firm despite recent stock performance issues.

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) shares dropped 4.6% during trading on Tuesday . The stock traded as low as $3.66 and last traded at $3.66. Approximately 144,979 shares changed hands during trading, a decline of 85% from the average daily volume of 946,646 shares. The stock had previously closed at $3.84.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CMTG. UBS Group reiterated a "buy" rating and issued a $4.00 price target (up from $3.50) on shares of Claros Mortgage Trust in a research note on Wednesday, May 21st. Keefe, Bruyette & Woods raised their price target on Claros Mortgage Trust from $2.75 to $3.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $4.13.

Claros Mortgage Trust Stock Down 6.2%

The company has a market capitalization of $503.36 million, a price-to-earnings ratio of -1.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.92, a current ratio of 30.23 and a quick ratio of 30.23. The firm's fifty day moving average price is $3.35 and its 200-day moving average price is $3.05.

Institutional Investors Weigh In On Claros Mortgage Trust

Hedge funds have recently added to or reduced their stakes in the business. Koch Inc. acquired a new position in shares of Claros Mortgage Trust in the fourth quarter worth approximately $68,374,000. Geode Capital Management LLC increased its position in shares of Claros Mortgage Trust by 3.2% during the second quarter. Geode Capital Management LLC now owns 2,465,260 shares of the company's stock worth $7,027,000 after buying an additional 75,592 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Claros Mortgage Trust by 31.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,203,104 shares of the company's stock worth $8,218,000 after buying an additional 523,403 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in Claros Mortgage Trust by 22.9% in the second quarter. Balyasny Asset Management L.P. now owns 1,946,597 shares of the company's stock valued at $5,548,000 after buying an additional 362,130 shares during the period. Finally, Kingstone Capital Partners Texas LLC bought a new stake in Claros Mortgage Trust during the second quarter valued at $2,522,000. 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.

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