Claros Mortgage Trust (NYSE:CMTG) Shares Gap Up - Should You Buy?

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) 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 traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BTIG Research assumed coverage on shares of Claros Mortgage Trust in a report on Friday, July 19th. They issued a "neutral" rating for the company. Keefe, Bruyette & Woods decreased their price objective 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. Wells Fargo & Company cut shares of Claros Mortgage Trust from an "equal weight" rating to an "underweight" rating and set a $8.00 price objective for the company. in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. decreased their price objective 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. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $8.13.

Claros Mortgage Trust Price 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's fifty day simple moving average is $7.11 and its 200-day simple moving average is $7.94. The company has a market capitalization of $1.04 billion, a P/E ratio of -10.29 and a beta of 1.51.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last released its earnings results on Monday, August 5th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.10. Claros Mortgage Trust had a negative net margin of 35.47% and a positive return on equity of 3.30%. The business had revenue of $64.49 million during the quarter, compared to analysts' expectations of $64.25 million. On average, equities analysts forecast that Claros Mortgage Trust, Inc. will post 0.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Claros Mortgage Trust

Several hedge funds have recently made changes to their positions in CMTG. Gladius Capital Management LP acquired a new position in Claros Mortgage Trust in the second quarter worth about $33,000. Blue Trust Inc. raised its position in Claros Mortgage Trust by 2,260.7% in the third quarter. Blue Trust Inc. now owns 5,406 shares of the company's stock worth $43,000 after purchasing an additional 5,177 shares in the last quarter. SG Americas Securities LLC raised its position in Claros Mortgage Trust by 32.2% in the first quarter. SG Americas Securities LLC now owns 10,891 shares of the company's stock worth $106,000 after purchasing an additional 2,651 shares in the last quarter. Covestor Ltd raised its position in Claros Mortgage Trust by 349.4% in the first quarter. Covestor Ltd now owns 10,897 shares of the company's stock worth $106,000 after purchasing an additional 8,472 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Claros Mortgage Trust during the first quarter worth approximately $128,000. 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.