Claros Mortgage Trust (NYSE:CMTG) Trading 9.7% Higher – Still a Buy?

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

Wall Street Analysts Forecast Growth

CMTG has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their target price 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. 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 cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their target price 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 investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, Claros Mortgage Trust currently has a consensus rating of “Hold” and an average target price of $7.44.

Claros Mortgage Trust Price Performance

The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 20.68. The stock has a market capitalization of $981.79 million, a price-to-earnings ratio of -11.08 and a beta of 1.51. The business’s fifty day moving average price is $6.91 and its 200-day moving average price is $7.79.

Institutional Trading of Claros Mortgage Trust

Institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC lifted its position in shares of Claros Mortgage Trust by 8.5% during the 1st 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 during the last quarter. SG Americas Securities LLC lifted its holdings in Claros Mortgage Trust by 32.2% during the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company’s stock valued at $106,000 after purchasing an additional 2,651 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Claros Mortgage Trust by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock worth $369,000 after purchasing an additional 2,885 shares in the last quarter. Gladius Capital Management LP bought a new stake in shares of Claros Mortgage Trust in the second quarter valued at approximately $33,000. Finally, Blue Trust Inc. grew its stake in 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 in the last quarter. 89.53% of the stock is owned by hedge funds and other 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.