State Street Corp Raises Stake in Claros Mortgage Trust, Inc. (NYSE:CMTG)

State Street Corp boosted its holdings in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,165,863 shares of the company’s stock after buying an additional 6,882 shares during the quarter. State Street Corp’s holdings in Claros Mortgage Trust were worth $16,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CMTG. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Claros Mortgage Trust during the third quarter worth $2,552,000. PDT Partners LLC acquired a new stake in Claros Mortgage Trust during the 3rd quarter worth about $208,000. Penserra Capital Management LLC raised its stake in shares of Claros Mortgage Trust by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 134,542 shares of the company’s stock valued at $1,007,000 after buying an additional 25,110 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Claros Mortgage Trust by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after buying an additional 188,950 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at about $114,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Claros Mortgage Trust Trading Up 2.7 %

CMTG opened at $4.25 on Wednesday. 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 company’s 50 day simple moving average is $6.37 and its two-hundred day simple moving average is $7.49. The firm has a market capitalization of $592.29 million, a price-to-earnings ratio of -6.75 and a beta of 1.52. Claros Mortgage Trust, Inc. has a 1-year low of $3.98 and a 1-year high of $14.62.

Wall Street Analyst Weigh In

Several analysts recently commented on CMTG shares. JPMorgan Chase & Co. dropped their target price on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, October 17th. UBS Group decreased their price objective on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Friday, November 15th. Keefe, Bruyette & Woods increased their price target on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company downgraded Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a research note on Friday, September 20th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.44.

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.