Claros Mortgage Trust (NYSE:CMTG) Trading Down 2.8% – Here’s Why

Claros Mortgage Trust, Inc. (NYSE:CMTG) shares traded down 2.8% on Wednesday . The company traded as low as $4.08 and last traded at $4.00. 70,158 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,123,887 shares. The stock had previously closed at $4.11.

Wall Street Analysts Forecast Growth

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

Claros Mortgage Trust Stock Performance

The company’s fifty day moving average is $3.28 and its 200 day moving average is $5.36. The company has a market capitalization of $560.94 million, a P/E ratio of -2.53 and a beta of 1.63. The company has a current ratio of 25.67, a quick ratio of 20.68 and a debt-to-equity ratio of 2.08.

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

Insiders Place Their Bets

In other Claros Mortgage Trust news, CEO Richard Mack bought 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mike Mcgillis bought 24,115 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 475,945 shares in the company, valued at $1,570,618.50. This trade represents a 5.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 169,115 shares of company stock worth $547,930 in the last three months. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Claros Mortgage Trust

Large investors have recently added to or reduced their stakes in the business. Koch Inc. bought a new stake in Claros Mortgage Trust in the 4th quarter worth $68,374,000. Squarepoint Ops LLC bought a new stake in shares of Claros Mortgage Trust during the 4th quarter valued at about $46,000. ProShare Advisors LLC boosted its stake in shares of Claros Mortgage Trust by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 24,311 shares of the company’s stock valued at $110,000 after purchasing an additional 7,999 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of Claros Mortgage Trust during the 4th quarter valued at about $115,000. Finally, Millennium Management LLC boosted its stake in shares of Claros Mortgage Trust by 38.4% during the 4th quarter. Millennium Management LLC now owns 135,388 shares of the company’s stock valued at $612,000 after purchasing an additional 37,548 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

About Claros Mortgage Trust

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.