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

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

Wall Street Analyst Weigh In

CMTG has been the topic of several analyst reports. UBS Group lowered their price objective 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. Keefe, Bruyette & Woods reduced their price objective on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating on the stock in a research note on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on 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 equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.31.

Claros Mortgage Trust Stock Performance

The stock has a market cap of $528.88 million, a P/E ratio of -2.38 and a beta of 1.62. The company has a debt-to-equity ratio of 2.08, a current ratio of 25.67 and a quick ratio of 20.68. The stock’s 50 day simple moving average is $3.30 and its two-hundred day simple moving average is $5.15.

Claros Mortgage Trust (NYSE:CMTG) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $60.23 million during the quarter, compared to analysts’ expectations of $58.07 million. As a group, research analysts forecast that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling

In other news, CEO Richard Mack bought 115,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $3.19 per share, with a total value of $366,850.00. Following the acquisition, the chief executive officer now directly owns 2,564,981 shares in the company, valued at $8,182,289.39. This represents a 4.69 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mike Mcgillis purchased 24,115 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $3.30 per share, with a total value of $79,579.50. Following the acquisition, 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 position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 169,115 shares of company stock valued at $547,930. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in Claros Mortgage Trust by 18.4% in the fourth quarter. SG Americas Securities LLC now owns 23,769 shares of the company’s stock valued at $107,000 after buying an additional 3,694 shares in the last quarter. Sei Investments Co. lifted its holdings in Claros Mortgage Trust by 19.0% during the 4th quarter. Sei Investments Co. now owns 23,828 shares of the company’s stock worth $108,000 after buying an additional 3,800 shares during the period. State Street Corp raised its position in shares of Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after acquiring an additional 6,882 shares during the last quarter. ProShare Advisors LLC raised its holdings in Claros Mortgage Trust by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 24,311 shares of the company’s stock worth $110,000 after purchasing an additional 7,999 shares during the last quarter. Finally, Arlington Trust Co LLC acquired a new position in Claros Mortgage Trust in the fourth quarter valued at $43,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.