Claros Mortgage Trust (NYSE:CMTG) Shares Gap Up – Time to Buy?

Claros Mortgage Trust, Inc. (NYSE:CMTG) shares gapped up prior to trading on Friday . The stock had previously closed at $7.04, but opened at $7.41. Claros Mortgage Trust shares last traded at $7.44, with a volume of 28,144 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMTG. JPMorgan Chase & Co. decreased 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 report on Thursday, October 17th. Wells Fargo & Company downgraded 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. Keefe, Bruyette & Woods cut their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating on the stock in a research note on Monday, August 12th. Finally, BTIG Research started coverage on shares of Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.13.

Claros Mortgage Trust Price Performance

The stock has a market cap of $1.03 billion, a PE ratio of -9.64 and a beta of 1.51. The company has a current ratio of 28.19, a quick ratio of 28.19 and a debt-to-equity ratio of 2.12. The company’s 50 day moving average is $7.12 and its 200-day moving average is $7.95.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings results on Monday, August 5th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.10. Claros Mortgage Trust had a negative net margin of 35.47% and a positive return on equity of 3.30%. The firm had revenue of $64.49 million for the quarter, compared to the consensus estimate of $64.25 million. As a group, sell-side analysts predict that Claros Mortgage Trust, Inc. will post 0.21 earnings per share for the current year.

Institutional Investors Weigh In On Claros Mortgage Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gladius Capital Management LP bought a new stake in shares of Claros Mortgage Trust in the 2nd quarter worth about $33,000. Blue Trust Inc. boosted its holdings in shares of Claros Mortgage Trust by 2,260.7% in the 3rd 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. GSA Capital Partners LLP acquired a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at about $101,000. Covestor Ltd boosted its holdings in shares of Claros Mortgage Trust by 349.4% in the 1st quarter. Covestor Ltd now owns 10,897 shares of the company’s stock valued at $106,000 after buying an additional 8,472 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Claros Mortgage Trust by 32.2% in the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock valued at $106,000 after buying an additional 2,651 shares during the period. Institutional investors 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.