Claros Mortgage Trust (NYSE:CMTG) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) saw strong trading volume on Monday . 568,531 shares traded 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.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JPMorgan Chase & Co. dropped their price objective on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research report on Tuesday, November 12th. 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 research report on Friday, September 20th. Finally, UBS Group reduced their target price on shares of Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.44.

Claros Mortgage Trust Stock Down 2.8 %

The company has a debt-to-equity ratio of 2.11, a current ratio of 20.68 and a quick ratio of 20.68. The company has a market capitalization of $542.12 million, a price-to-earnings ratio of -6.17 and a beta of 1.62. The firm’s fifty day moving average price is $5.91 and its 200-day moving average price is $7.19.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of hedge funds have recently modified their holdings of CMTG. Waterfall Asset Management LLC bought a new position in Claros Mortgage Trust during the 2nd quarter worth approximately $4,448,000. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Claros Mortgage Trust during the third quarter worth $2,552,000. JPMorgan Chase & Co. raised its stake in Claros Mortgage Trust by 236.4% during the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after buying an additional 336,931 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Claros Mortgage Trust by 15.6% in the third 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 period. Finally, Barclays PLC boosted its position in Claros Mortgage Trust by 332.1% during the third quarter. Barclays PLC now owns 138,291 shares of the company’s stock valued at $1,037,000 after acquiring an additional 106,289 shares during 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.