Claros Mortgage Trust (NYSE:CMTG) Stock Price Up 2.8% – Here’s Why

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price was up 2.8% on Monday . The stock traded as high as $3.85 and last traded at $3.85. Approximately 121,059 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 565,376 shares. The stock had previously closed at $3.74.

Analyst Ratings Changes

Several research analysts have commented on CMTG shares. Wells Fargo & Company lowered their price target on shares of Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating for the company in a report on Tuesday, February 25th. UBS Group cut their price target on Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods dropped their price objective on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating on the stock in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.31.

Claros Mortgage Trust Trading Down 1.5 %

The company has a quick ratio of 20.68, a current ratio of 25.67 and a debt-to-equity ratio of 2.08. The stock has a market capitalization of $512.02 million, a PE ratio of -2.31 and a beta of 1.62. The business’s 50-day moving average is $3.30 and its two-hundred day moving average is $5.09.

Claros Mortgage Trust (NYSE:CMTG) last posted its earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The business had revenue of $60.23 million during the quarter, compared to the consensus estimate of $58.07 million. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. On average, analysts anticipate that Claros Mortgage Trust, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Claros Mortgage Trust

In other Claros Mortgage Trust news, CFO Mike Mcgillis bought 24,115 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $3.30 per share, for a total transaction of $79,579.50. Following the completion of the purchase, the chief financial officer now owns 475,945 shares of the company’s stock, valued at approximately $1,570,618.50. This represents a 5.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Mack purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $3.38 per share, for a total transaction of $84,500.00. Following the transaction, the chief executive officer now directly owns 2,589,981 shares in the company, valued at $8,754,135.78. This trade represents a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 169,115 shares of company stock worth $547,930. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Arlington Trust Co LLC acquired a new position in Claros Mortgage Trust during the 4th quarter worth approximately $43,000. BNP Paribas Financial Markets purchased a new stake in shares of Claros Mortgage Trust during the 4th quarter worth $46,000. Townsquare Capital LLC acquired a new position in shares of Claros Mortgage Trust during the 4th quarter worth $46,000. Squarepoint Ops LLC purchased a new position in shares of Claros Mortgage Trust in the 4th quarter valued at about $46,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Claros Mortgage Trust in the fourth quarter valued at about $47,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

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.