Claros Mortgage Trust (NYSE:CMTG) Shares Up 8% - Here's What Happened

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CMTG. JPMorgan Chase & Co. dropped 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 research note on Thursday, October 17th. Wells Fargo & Company cut Claros Mortgage Trust from an "equal weight" rating to an "underweight" rating and set a $8.00 target price on the stock. in a report on Friday, September 20th. UBS Group cut their price target on Claros Mortgage Trust from $8.50 to $8.00 and set a "neutral" rating for the company in a report on Friday, November 15th. Finally, Keefe, Bruyette & Woods increased their price objective on Claros Mortgage Trust from $6.75 to $7.25 and gave the company an "underperform" rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.44.

Claros Mortgage Trust Price Performance

The company has a 50 day moving average of $6.12 and a 200 day moving average of $7.33. The company has a quick ratio of 20.68, a current ratio of 20.68 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $629.92 million, a price-to-earnings ratio of -7.17 and a beta of 1.52.

Hedge Funds Weigh In On Claros Mortgage Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of Claros Mortgage Trust by 2,260.7% in the 3rd quarter. Blue Trust Inc. now owns 5,406 shares of the company's stock worth $43,000 after purchasing an additional 5,177 shares during the period. GSA Capital Partners LLP acquired a new position in Claros Mortgage Trust during the third quarter valued at approximately $101,000. Intech Investment Management LLC purchased a new stake in Claros Mortgage Trust during the third quarter worth approximately $114,000. SG Americas Securities LLC purchased a new position in shares of Claros Mortgage Trust in the 3rd quarter valued at $150,000. Finally, Atria Investments Inc boosted its position in Claros Mortgage Trust by 29.2% during the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company's stock worth $193,000 after purchasing an additional 5,823 shares during the period. Institutional investors and hedge funds 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.