Claros Mortgage Trust, Inc. (NYSE:CMTG) Sees Significant Decline in Short Interest

Claros Mortgage Trust, Inc. (NYSE:CMTG) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 3,930,000 shares, a drop of 9.4% from the October 31st total of 4,340,000 shares. Based on an average daily volume of 388,700 shares, the short-interest ratio is presently 10.1 days. Approximately 3.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Claros Mortgage Trust

Several institutional investors have recently made changes to their positions in CMTG. Waterfall Asset Management LLC acquired a new position in shares of Claros Mortgage Trust during the 2nd quarter worth about $4,448,000. Atria Investments Inc boosted its stake in shares of Claros Mortgage Trust by 29.2% in the third quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock worth $193,000 after acquiring an additional 5,823 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Claros Mortgage Trust in the 3rd quarter valued at $101,000. Blue Trust Inc. lifted its holdings in Claros Mortgage Trust by 2,260.7% in the 3rd quarter. Blue Trust Inc. now owns 5,406 shares of the company’s stock valued at $43,000 after purchasing an additional 5,177 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Claros Mortgage Trust by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock worth $369,000 after purchasing an additional 2,885 shares during the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research note on Tuesday, November 12th. UBS Group cut 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 research report on Friday, November 15th. JPMorgan Chase & Co. lowered their price target on Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Finally, Wells Fargo & Company lowered 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. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, Claros Mortgage Trust has a consensus rating of “Hold” and a consensus price target of $7.44.

Claros Mortgage Trust Price Performance

NYSE CMTG opened at $6.79 on Monday. Claros Mortgage Trust has a 12-month low of $6.08 and a 12-month high of $15.25. The firm’s fifty day simple moving average is $6.77 and its two-hundred day simple moving average is $7.73. The company has a current ratio of 20.68, a quick ratio of 20.68 and a debt-to-equity ratio of 2.11. The firm has a market capitalization of $946.25 million, a P/E ratio of -10.78 and a beta of 1.51.

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.