Claros Mortgage Trust (NYSE:CMTG) Stock Bumped Up to Sell by Wall Street Zen

Wall Street Zen upgraded shares of Claros Mortgage Trust (NYSE:CMTG) from a strong sell rating to a sell rating in a report published on Saturday,Wall Street Zen reports.

Several other research firms have also issued reports on CMTG. Weiss Ratings restated a “sell (e+)” rating on shares of Claros Mortgage Trust in a research report on Friday, October 30th. Keefe, Bruyette & Woods cut their price objective on Claros Mortgage Trust from $2.15 to $1.75 and set an “underperform” rating for the company in a research report on Friday, October 9th. Finally, Wells Fargo & Company reduced their price objective on Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating for the company in a research note on Wednesday, August 5th. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average target price of $2.08.

Claros Mortgage Trust Stock Performance

Shares of NYSE:CMTG traded up $0.03 during trading hours on Friday, hitting $1.60. 831,423 shares of the company’s stock traded hands, compared to its average volume of 2,014,139. The company’s fifty day simple moving average is $1.35 and its two-hundred day simple moving average is $2.07. The company has a market cap of $226.45 million, a price-to-earnings ratio of -0.44 and a beta of 1.17. Claros Mortgage Trust has a 52 week low of $1.09 and a 52 week high of $3.62.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Tuesday, November 3rd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.31. Claros Mortgage Trust had a negative net margin of 371.29% and a negative return on equity of 20.86%. The business had revenue of $32.64 million for the quarter, compared to the consensus estimate of $24.25 million. On average, analysts anticipate that Claros Mortgage Trust will post -2.56 EPS for the current fiscal year.

Insider Activity

In other news, CEO Richard Mack purchased 20,603 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were acquired at an average price of $1.59 per share, for a total transaction of $32,758.77. Following the completion of the acquisition, the chief executive officer directly owned 3,110,911 shares of the company’s stock, valued at $4,946,348.49. The trade was a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Claros Mortgage Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in Claros Mortgage Trust by 152.3% during the 1st quarter. Sei Investments Co. now owns 158,724 shares of the company’s stock valued at $378,000 after purchasing an additional 95,805 shares during the period. Bank of America Corp DE boosted its position in shares of Claros Mortgage Trust by 41.0% in the first quarter. Bank of America Corp DE now owns 108,263 shares of the company’s stock worth $258,000 after buying an additional 31,494 shares during the period. Empowered Funds LLC acquired a new stake in shares of Claros Mortgage Trust in the first quarter worth $212,000. FNY Investment Advisers LLC purchased a new position in shares of Claros Mortgage Trust during the second quarter valued at $205,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Claros Mortgage Trust by 81.4% during the first quarter. Renaissance Technologies LLC now owns 48,800 shares of the company’s stock valued at $116,000 after buying an additional 21,900 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

About Claros Mortgage Trust

Claros Mortgage Trust, Inc. is a real estate investment trust focused on commercial real estate finance. It originates and invests in loans secured by commercial properties, with an emphasis on transitional properties that may need renovation, repositioning, or leasing before reaching more stable operations. The company’s investments include senior mortgage loans and other forms of commercial real estate debt. Its lending activity primarily serves properties in U.S. markets, and its portfolio may span property types such as multifamily, office, and hospitality.