Charles Schwab Investment Management Inc. Acquires 188,950 Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG)

Charles Schwab Investment Management Inc. increased its holdings in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) by 15.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,402,648 shares of the company’s stock after purchasing an additional 188,950 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Claros Mortgage Trust were worth $10,506,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Waterfall Asset Management LLC bought a new position in Claros Mortgage Trust in the second quarter valued at about $4,448,000. Bank of New York Mellon Corp boosted its position in Claros Mortgage Trust by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 408,766 shares of the company’s stock worth $3,278,000 after buying an additional 36,911 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Claros Mortgage Trust by 9.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 81,059 shares of the company’s stock worth $792,000 after acquiring an additional 7,062 shares during the last quarter. Levin Capital Strategies L.P. increased its position in Claros Mortgage Trust by 400.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 50,000 shares of the company’s stock valued at $401,000 after acquiring an additional 40,000 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Claros Mortgage Trust by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 45,992 shares of the company’s stock valued at $369,000 after acquiring an additional 2,885 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Claros Mortgage Trust Trading Up 5.7 %

Shares of CMTG stock opened at $6.52 on Tuesday. Claros Mortgage Trust, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $15.25. The company has a debt-to-equity ratio of 2.11, a quick ratio of 20.68 and a current ratio of 20.68. The stock has a 50 day simple moving average of $6.61 and a two-hundred day simple moving average of $7.66. The company has a market cap of $908.63 million, a P/E ratio of -10.35 and a beta of 1.52.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMTG. UBS Group decreased their price objective on Claros Mortgage Trust from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Friday, November 15th. Keefe, Bruyette & Woods lifted their price objective on Claros Mortgage Trust from $6.75 to $7.25 and gave the stock an “underperform” rating in a research note on Tuesday, November 12th. Wells Fargo & Company downgraded shares of Claros Mortgage Trust from an “equal weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Claros Mortgage Trust from $9.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.44.

Claros Mortgage Trust Company Profile

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.