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

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s share price gapped up before the market opened 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.

Wall Street Analyst Weigh In

CMTG has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company cut shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a report on Friday, September 20th. BTIG Research initiated coverage on shares of Claros Mortgage Trust in a report on Friday, July 19th. They set a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set an “underperform” rating for the company in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.13.

Claros Mortgage Trust Trading Up 6.7 %

The company has a market cap of $1.04 billion, a price-to-earnings ratio of -11.92 and a beta of 1.51. The company has a quick ratio of 28.19, a current ratio of 28.19 and a debt-to-equity ratio of 2.12. The company’s 50-day moving average is $7.11 and its 200 day moving average is $7.94.

Institutional Trading of Claros Mortgage Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new stake in shares of Claros Mortgage Trust in the third quarter valued at about $114,000. Quest Partners LLC grew its position in shares of Claros Mortgage Trust by 5,222.4% in the third quarter. Quest Partners LLC now owns 41,515 shares of the company’s stock valued at $311,000 after purchasing an additional 40,735 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Claros Mortgage Trust during the third quarter valued at approximately $101,000. Atria Investments Inc raised its holdings in shares of Claros Mortgage Trust by 29.2% during the third 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. Finally, Blue Trust Inc. lifted its position in shares of Claros Mortgage Trust by 2,260.7% in the third quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after acquiring an additional 5,177 shares in the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.