Claros Mortgage Trust (NYSE:CMTG) Trading 8% Higher – Should You Buy?

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

Analyst Ratings Changes

A number of brokerages have weighed in on CMTG. Keefe, Bruyette & Woods lifted their price target 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. Wells Fargo & Company downgraded 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. JPMorgan Chase & Co. reduced their price objective on 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. Finally, UBS Group lowered 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. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Claros Mortgage Trust has an average rating of “Hold” and an average price target of $7.44.

Claros Mortgage Trust Price Performance

The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11. The stock has a market cap of $629.92 million, a PE ratio of -7.17 and a beta of 1.52. The company’s 50 day moving average is $6.08 and its 200-day moving average is $7.31.

Institutional Trading of Claros Mortgage Trust

A number of hedge funds and other institutional investors have recently modified their holdings of CMTG. Blue Trust Inc. grew its stake in Claros Mortgage Trust by 2,260.7% during the 3rd quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after purchasing an additional 5,177 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Claros Mortgage Trust during the third quarter worth approximately $101,000. Intech Investment Management LLC bought a new stake in shares of Claros Mortgage Trust in the third quarter worth $114,000. SG Americas Securities LLC acquired a new stake in Claros Mortgage Trust in the third quarter valued at $150,000. Finally, Atria Investments Inc boosted its stake in 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 acquiring an additional 5,823 shares during the last quarter. 89.53% of the stock is 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.