Claros Mortgage Trust (NYSE:CMTG) Shares Gap Up – Here’s Why

Claros Mortgage Trust, Inc. (NYSE:CMTG) 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 changing hands.

Analyst Upgrades and Downgrades

CMTG has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered 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 research report on Thursday, October 17th. Keefe, Bruyette & Woods lowered their target price on Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating on the stock in a report on Monday, August 12th. BTIG Research began coverage on Claros Mortgage Trust in a report on Friday, July 19th. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target for the company. in a report on Friday, September 20th. 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.13.

Claros Mortgage Trust Stock Performance

The company has a debt-to-equity ratio of 2.12, a current ratio of 28.19 and a quick ratio of 28.19. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -11.92 and a beta of 1.51. The firm has a fifty day moving average of $7.11 and a 200 day moving average of $7.94.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Waterfall Asset Management LLC purchased a new position in Claros Mortgage Trust in the second quarter worth approximately $4,448,000. Blue Trust Inc. boosted its position in shares of Claros Mortgage Trust by 2,260.7% during the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock worth $43,000 after buying an additional 5,177 shares during the period. ProShare Advisors LLC grew its stake in shares of Claros Mortgage Trust by 8.5% in 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. SG Americas Securities LLC raised 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. Finally, The Manufacturers Life Insurance Company lifted its stake in Claros Mortgage Trust by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock worth $369,000 after acquiring an additional 2,885 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

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.