Claros Mortgage Trust (NYSE:CMTG) Stock Price Up 9.7% – Here’s What Happened

Claros Mortgage Trust, Inc. (NYSE:CMTG) was up 9.7% during mid-day trading on Monday . The company traded as high as $7.11 and last traded at $7.11. Approximately 327,251 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 341,196 shares. The stock had previously closed at $6.48.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group decreased their target price on Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Wells Fargo & Company lowered 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 report on Friday, September 20th. JPMorgan Chase & Co. cut their target price on 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.44.

Claros Mortgage Trust Stock Up 3.0 %

The company has a market cap of $946.25 million, a price-to-earnings ratio of -10.78 and a beta of 1.51. The stock has a 50-day simple moving average of $6.86 and a 200-day simple moving average of $7.77. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11.

Institutional Trading of Claros Mortgage Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Waterfall Asset Management LLC acquired a new position in shares of Claros Mortgage Trust during the second quarter valued at approximately $4,448,000. Atria Investments Inc raised its stake in shares of Claros Mortgage Trust by 29.2% in the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock worth $193,000 after buying an additional 5,823 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Claros Mortgage Trust in the 3rd quarter worth $101,000. Blue Trust Inc. lifted its holdings in shares of Claros Mortgage Trust by 2,260.7% in the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after buying an additional 5,177 shares during the period. Finally, ProShare Advisors LLC boosted its stake in Claros Mortgage Trust by 8.5% during the first quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $159,000 after buying an additional 1,284 shares in 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.