Claros Mortgage Trust, Inc. (NYSE:CMTG) Given Average Rating of “Reduce” by Analysts

Claros Mortgage Trust, Inc. (NYSE:CMTG) has been assigned a consensus recommendation of “Reduce” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $3.88.

Several equities analysts recently issued reports on CMTG shares. UBS Group decreased their target price on shares of Claros Mortgage Trust from $5.25 to $3.50 and set a “buy” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods dropped their target price on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating on the stock in a research report on Thursday, February 27th. Finally, Wells Fargo & Company reduced 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.

Claros Mortgage Trust Price Performance

Shares of CMTG opened at $2.38 on Friday. The company has a market capitalization of $331.13 million, a P/E ratio of -1.49 and a beta of 1.12. The business’s 50-day moving average is $3.07 and its two-hundred day moving average is $4.59. The company has a debt-to-equity ratio of 2.08, a quick ratio of 20.68 and a current ratio of 25.67. Claros Mortgage Trust has a fifty-two week low of $2.13 and a fifty-two week high of $9.81.

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

Insider Buying and Selling

In other Claros Mortgage Trust news, CFO Mike Mcgillis acquired 24,115 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price 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 in the company, valued at approximately $1,570,618.50. The trade was a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Mack bought 115,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $3.19 per share, for a total transaction of $366,850.00. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 169,115 shares of company stock worth $547,930. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CMTG. Koch Inc. purchased a new position in shares of Claros Mortgage Trust during the 4th quarter worth $68,374,000. Squarepoint Ops LLC purchased a new stake in shares of Claros Mortgage Trust in the 4th quarter valued at approximately $46,000. ProShare Advisors LLC increased its holdings 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 worth $110,000 after buying an additional 7,999 shares during the last quarter. Quantinno Capital Management LP acquired a new position in Claros Mortgage Trust in the fourth quarter valued at approximately $115,000. Finally, Millennium Management LLC grew its position in Claros Mortgage Trust by 38.4% in the fourth quarter. Millennium Management LLC now owns 135,388 shares of the company’s stock worth $612,000 after acquiring an additional 37,548 shares during the period. 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.