Claros Mortgage Trust (NYSE:CMTG) Sees Unusually-High Trading Volume – What’s Next?

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) saw strong trading volume on Monday . 568,531 shares changed hands during mid-day trading, an increase of 58% from the previous session’s volume of 359,347 shares.The stock last traded at $4.44 and had previously closed at $4.48.

Analysts Set New Price Targets

Several brokerages have issued reports on CMTG. Keefe, Bruyette & Woods boosted their price target 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. UBS Group dropped their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, November 15th. JPMorgan Chase & Co. reduced their price target 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. Finally, Wells Fargo & Company lowered shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 price objective on the stock. in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.44.

Claros Mortgage Trust Price Performance

The business has a 50-day moving average price of $5.91 and a two-hundred day moving average price of $7.19. 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 company has a market capitalization of $542.12 million, a price-to-earnings ratio of -6.17 and a beta of 1.62.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. State Street Corp grew its holdings in Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after buying an additional 6,882 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $10,506,000 after acquiring an additional 188,950 shares in the last quarter. Waterfall Asset Management LLC bought a new stake in shares of Claros Mortgage Trust in the 2nd quarter worth $4,448,000. JPMorgan Chase & Co. raised its holdings in shares of Claros Mortgage Trust by 236.4% in the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock valued at $3,591,000 after purchasing an additional 336,931 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Claros Mortgage Trust by 9.9% during the second quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock valued at $3,278,000 after purchasing an additional 36,911 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.