Claros Mortgage Trust (NYSE:CMTG) Issues Earnings Results

Claros Mortgage Trust (NYSE:CMTG) issued its earnings results on Wednesday. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28), FiscalAI reports. Claros Mortgage Trust had a negative net margin of 267.14% and a negative return on equity of 19.34%. The company had revenue of $29.52 million during the quarter, compared to analyst estimates of $36.94 million.

Claros Mortgage Trust Trading Down 3.8%

Shares of NYSE:CMTG traded down $0.10 during mid-day trading on Friday, reaching $2.43. 795,731 shares of the company’s stock were exchanged, compared to its average volume of 345,748. The firm has a market capitalization of $340.03 million, a price-to-earnings ratio of -0.73 and a beta of 1.18. The business’s fifty day moving average price is $2.45 and its 200-day moving average price is $2.84. The company has a debt-to-equity ratio of 1.53, a quick ratio of 21.44 and a current ratio of 21.44. Claros Mortgage Trust has a twelve month low of $2.05 and a twelve month high of $3.99.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods cut their price target on shares of Claros Mortgage Trust from $3.00 to $2.50 and set an “underperform” rating on the stock in a report on Monday, March 2nd. Wall Street Zen lowered shares of Claros Mortgage Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Wells Fargo & Company cut their price target on shares of Claros Mortgage Trust from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Friday, February 20th. One investment analyst has rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Claros Mortgage Trust presently has a consensus rating of “Reduce” and a consensus price target of $3.00.

Insider Transactions at Claros Mortgage Trust

In other news, Director W Edward Walter bought 25,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was acquired at an average price of $2.28 per share, with a total value of $57,000.00. Following the completion of the purchase, the director directly owned 32,000 shares of the company’s stock, valued at approximately $72,960. This represents a 357.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Mike Mcgillis bought 20,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were purchased at an average cost of $2.34 per share, with a total value of $46,800.00. Following the purchase, the chief financial officer directly owned 603,007 shares of the company’s stock, valued at $1,411,036.38. The trade was a 3.43% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have acquired 95,000 shares of company stock worth $224,300. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Claros Mortgage Trust by 2.3% during the third quarter. Vanguard Group Inc. now owns 6,616,998 shares of the company’s stock worth $21,968,000 after buying an additional 149,944 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Claros Mortgage Trust by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,621,983 shares of the company’s stock worth $11,083,000 after buying an additional 383,859 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in Claros Mortgage Trust by 22.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,946,597 shares of the company’s stock worth $5,548,000 after buying an additional 362,130 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in Claros Mortgage Trust by 53.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,805,395 shares of the company’s stock worth $5,994,000 after buying an additional 632,105 shares during the last quarter. Finally, LM Asset Management Inc. bought a new position in Claros Mortgage Trust during the fourth quarter worth $1,634,000. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Company Profile

Claros Mortgage Trust is a specialty finance company structured as a real estate investment trust that acquires and manages a portfolio of newly originated, conventional residential mortgage loans guaranteed or insured by U.S. government?sponsored enterprises. The company concentrates on Agency collateral, including loans backed by Ginnie Mae, Fannie Mae and Freddie Mac, aiming to generate current income while preserving capital through high?quality, credit?enhanced assets.

Under an external management agreement with Claros Mortgage Capital Advisors LLC, the firm leverages a seasoned team to source, underwrite and service mortgage assets.