Claros Mortgage Trust (NYSE:CMTG) Shares Gap Up – Time to Buy?

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $4.04, but opened at $4.13. Claros Mortgage Trust shares last traded at $4.01, with a volume of 117,881 shares trading hands.

Wall Street Analyst Weigh In

CMTG has been the subject of several recent research reports. Keefe, Bruyette & Woods decreased their price target on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating for the company in a report on Thursday, February 27th. UBS Group lowered their target price on shares of Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Wells Fargo & Company cut 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.31.

Claros Mortgage Trust Trading Down 4.1 %

The company has a current ratio of 25.67, a quick ratio of 20.68 and a debt-to-equity ratio of 2.08. The business has a 50 day moving average of $3.30 and a 200-day moving average of $5.23. The stock has a market cap of $540.03 million, a PE ratio of -2.44 and a beta of 1.62.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 EPS for the current year.

Insider Activity

In other Claros Mortgage Trust news, CEO Richard Mack acquired 25,000 shares of Claros Mortgage Trust stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $3.38 per share, for a total transaction of $84,500.00. Following the completion of the transaction, the chief executive officer now owns 2,589,981 shares in the company, valued at approximately $8,754,135.78. This represents a 0.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mike Mcgillis purchased 24,115 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $3.30 per share, with a total value of $79,579.50. Following 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 position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 169,115 shares of company stock valued at $547,930. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Arlington Trust Co LLC bought a new position in Claros Mortgage Trust during the 4th quarter valued at $43,000. Townsquare Capital LLC bought a new position in Claros Mortgage Trust during the fourth quarter valued at about $46,000. BNP Paribas Financial Markets acquired a new position in Claros Mortgage Trust during the fourth quarter worth about $46,000. Squarepoint Ops LLC acquired a new stake in Claros Mortgage Trust in the 4th quarter valued at about $46,000. Finally, Proficio Capital Partners LLC acquired a new stake in Claros Mortgage Trust in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 89.53% of the company’s stock.

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.