Claros Mortgage Trust (NYSE:CMTG) Shares Up 9.7% – Still a Buy?

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price shot up 9.7% on Monday . The company traded as high as $7.11 and last traded at $7.11. 327,251 shares were traded during mid-day trading, a decline of 4% from the average session volume of 341,196 shares. The stock had previously closed at $6.48.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wells Fargo & Company cut Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research note on Friday, September 20th. JPMorgan Chase & Co. cut their price target on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, October 17th. UBS Group decreased their price objective on shares of 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. Finally, Keefe, Bruyette & Woods upped their price target on Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.44.

Claros Mortgage Trust Stock Performance

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 cap of $946.25 million, a P/E ratio of -10.78 and a beta of 1.51. The firm’s 50-day moving average is $6.86 and its two-hundred day moving average is $7.77.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of large investors have recently added to or reduced their stakes in the stock. Waterfall Asset Management LLC bought a new stake in Claros Mortgage Trust during the second quarter valued at about $4,448,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Claros Mortgage Trust during the 3rd quarter valued at approximately $2,552,000. Charles Schwab Investment Management Inc. grew its holdings in Claros Mortgage Trust by 15.6% in 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 during the last quarter. Barclays PLC increased its position in Claros Mortgage Trust by 332.1% in the 3rd quarter. Barclays PLC now owns 138,291 shares of the company’s stock worth $1,037,000 after buying an additional 106,289 shares during the period. Finally, Zacks Investment Management increased its position in Claros Mortgage Trust by 26.1% in the 3rd quarter. Zacks Investment Management now owns 331,865 shares of the company’s stock worth $2,486,000 after buying an additional 68,749 shares during the period. 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.