Claros Mortgage Trust (NYSE:CMTG) Stock Price Up 8% – Here’s What Happened

Claros Mortgage Trust, Inc. (NYSE:CMTG) was up 8% on Tuesday . The company traded as high as $4.44 and last traded at $4.44. Approximately 42,424 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 345,984 shares. The stock had previously closed at $4.11.

Wall Street Analyst Weigh In

CMTG has been the topic of a number of recent research reports. UBS Group cut their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, November 15th. 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 for the company. in a research report on Friday, September 20th. Keefe, Bruyette & Woods lifted their price objective on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. decreased 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 report on Thursday, October 17th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.44.

Claros Mortgage Trust Stock Performance

The company has a market cap of $629.92 million, a P/E ratio of -7.17 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. The company has a 50 day moving average price of $6.08 and a 200-day moving average price of $7.31.

Institutional Trading of Claros Mortgage Trust

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake 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 worth $43,000 after buying an additional 5,177 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Claros Mortgage Trust during the third quarter worth about $101,000. Intech Investment Management LLC acquired a new stake in Claros Mortgage Trust in the 3rd quarter valued at about $114,000. SG Americas Securities LLC bought a new position in shares of Claros Mortgage Trust during the 3rd quarter valued at about $150,000. Finally, Atria Investments Inc boosted its position in shares of Claros Mortgage Trust by 29.2% during the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock valued at $193,000 after purchasing an additional 5,823 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

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.