JPMorgan Chase & Co. Increases Stake in Claros Mortgage Trust, Inc. (NYSE:CMTG)

JPMorgan Chase & Co. grew its holdings in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) by 236.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 479,430 shares of the company’s stock after purchasing an additional 336,931 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.34% of Claros Mortgage Trust worth $3,591,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CMTG. Waterfall Asset Management LLC purchased a new position in shares of Claros Mortgage Trust in the second quarter worth about $4,448,000. Hotchkis & Wiley Capital Management LLC purchased a new position in Claros Mortgage Trust in the 3rd quarter worth approximately $2,552,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Claros Mortgage Trust by 15.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock worth $10,506,000 after purchasing an additional 188,950 shares during the last quarter. Barclays PLC grew its position in shares of Claros Mortgage Trust by 332.1% in the third quarter. Barclays PLC now owns 138,291 shares of the company’s stock valued at $1,037,000 after purchasing an additional 106,289 shares in the last quarter. Finally, Zacks Investment Management increased its holdings in shares of Claros Mortgage Trust by 26.1% in the third quarter. Zacks Investment Management now owns 331,865 shares of the company’s stock valued at $2,486,000 after purchasing an additional 68,749 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

Wall Street Analysts Forecast Growth

CMTG has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered 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 lowered their price target on shares of Claros Mortgage Trust from $6.50 to $4.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 14th. Finally, UBS Group upgraded shares of Claros Mortgage Trust from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $8.00 to $6.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.13.

Claros Mortgage Trust Stock Performance

Shares of Claros Mortgage Trust stock opened at $3.86 on Friday. The firm has a market cap of $537.93 million, a PE ratio of -6.13 and a beta of 1.62. The company has a quick ratio of 20.68, a current ratio of 20.68 and a debt-to-equity ratio of 2.11. Claros Mortgage Trust, Inc. has a 52 week low of $3.66 and a 52 week high of $12.86. The business’s fifty day simple moving average is $5.45 and its 200-day simple moving average is $6.96.

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.