Claros Mortgage Trust (NYSE:CMTG) Shares Gap Down – Here’s What Happened

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $7.61, but opened at $7.19. Claros Mortgage Trust shares last traded at $7.13, with a volume of 4,892 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CMTG shares. BTIG Research started coverage on shares of Claros Mortgage Trust in a research note on Friday, July 19th. They issued a “neutral” rating on the stock. 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 for the company. in a report on Friday, September 20th. JPMorgan Chase & Co. cut 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. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the company an “underperform” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, Claros Mortgage Trust has an average rating of “Hold” and an average price target of $7.94.

Claros Mortgage Trust Stock Performance

The business’s fifty day moving average is $7.08 and its two-hundred day moving average is $7.91. The company has a quick ratio of 28.19, a current ratio of 20.68 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $969.27 million, a PE ratio of -11.05 and a beta of 1.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. ProShare Advisors LLC grew its holdings in shares of Claros Mortgage Trust by 8.5% in the first quarter. ProShare Advisors LLC now owns 16,316 shares of the company’s stock valued at $159,000 after purchasing an additional 1,284 shares in the last quarter. SG Americas Securities LLC lifted 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 buying an additional 2,651 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Claros Mortgage Trust by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock worth $369,000 after buying an additional 2,885 shares during the last quarter. Gladius Capital Management LP bought a new stake in Claros Mortgage Trust in the second quarter worth $33,000. Finally, Blue Trust Inc. lifted 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 buying an additional 5,177 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.