Claros Mortgage Trust (NYSE:CMTG) Trading Up 4.1% – Here’s What Happened

Claros Mortgage Trust, Inc. (NYSE:CMTG) was up 4.1% on Thursday . The stock traded as high as $4.18 and last traded at $4.19. Approximately 678,626 shares traded hands during trading, an increase of 30% from the average daily volume of 521,864 shares. The stock had previously closed at $4.02.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wells Fargo & Company lowered their target price on Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating on the stock in a report on Tuesday, February 25th. Keefe, Bruyette & Woods lowered their price objective on shares of 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, UBS Group cut their target price on shares of Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating for the company in a research note 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $4.31.

Claros Mortgage Trust Stock Up 3.9 %

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 business has a 50 day moving average of $3.29 and a 200 day moving average of $5.35. The firm has a market capitalization of $581.84 million, a price-to-earnings ratio of -2.63 and a beta of 1.63.

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

Insider Activity

In other Claros Mortgage Trust news, CFO Mike Mcgillis bought 24,115 shares of the stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $3.30 per share, for a total transaction of $79,579.50. Following the completion of the purchase, the chief financial officer now owns 475,945 shares in the company, valued at $1,570,618.50. This represents a 5.34 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Mack acquired 115,000 shares of the stock in a transaction on Monday, March 10th. The stock was bought at an average price of $3.19 per share, with a total value of $366,850.00. Following the transaction, the chief executive officer now directly owns 2,564,981 shares in the company, valued at approximately $8,182,289.39. This represents a 4.69 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 169,115 shares of company stock worth $547,930. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Arlington Trust Co LLC acquired a new position in shares of Claros Mortgage Trust in the 4th quarter valued at $43,000. Townsquare Capital LLC acquired a new position in Claros Mortgage Trust in the fourth quarter valued at about $46,000. BNP Paribas Financial Markets acquired a new position in Claros Mortgage Trust in the fourth quarter valued at about $46,000. Squarepoint Ops LLC bought a new position in Claros Mortgage Trust during the fourth quarter worth about $46,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Claros Mortgage Trust during the 4th quarter worth about $47,000. Institutional investors 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.