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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. 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 note on Thursday, October 17th. Wells Fargo & Company downgraded Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a report on Friday, September 20th. Keefe, Bruyette & Woods upped their target price on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a report on Tuesday, November 12th. Finally, UBS Group cut their price target on Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.44.

Claros Mortgage Trust Stock Up 7.1 %

The business has a 50 day moving average of $6.15 and a two-hundred day moving average of $7.35. The company has a debt-to-equity ratio of 2.11, a quick ratio of 20.68 and a current ratio of 20.68. The stock has a market capitalization of $613.20 million, a PE ratio of -6.98 and a beta of 1.52.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after purchasing an additional 6,882 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 in the last quarter. Waterfall Asset Management LLC purchased a new stake in Claros Mortgage Trust in the second quarter valued at about $4,448,000. JPMorgan Chase & Co. boosted its holdings in Claros Mortgage Trust by 236.4% in the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after acquiring an additional 336,931 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Claros Mortgage Trust by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after acquiring an additional 36,911 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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.