Millennium Management LLC Increases Stock Holdings in Claros Mortgage Trust, Inc. (NYSE:CMTG)

Millennium Management LLC lifted its stake in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) by 38.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 135,388 shares of the company’s stock after buying an additional 37,548 shares during the quarter. Millennium Management LLC owned 0.10% of Claros Mortgage Trust worth $612,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Deutsche Bank AG grew its stake in Claros Mortgage Trust by 51.3% during the 4th quarter. Deutsche Bank AG now owns 82,198 shares of the company’s stock valued at $372,000 after purchasing an additional 27,856 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in Claros Mortgage Trust during the 4th quarter valued at approximately $75,000. Bank of America Corp DE grew its stake in Claros Mortgage Trust by 72.7% during the 4th quarter. Bank of America Corp DE now owns 90,751 shares of the company’s stock valued at $410,000 after purchasing an additional 38,197 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Claros Mortgage Trust during the 4th quarter valued at approximately $46,000. Finally, Ameriprise Financial Inc. grew its stake in Claros Mortgage Trust by 118.3% during the 4th quarter. Ameriprise Financial Inc. now owns 93,000 shares of the company’s stock valued at $420,000 after purchasing an additional 50,400 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

Claros Mortgage Trust Trading Up 4.5%

NYSE:CMTG opened at $2.92 on Friday. The business has a 50 day simple moving average of $2.55 and a 200 day simple moving average of $3.59. 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 firm has a market capitalization of $407.49 million, a P/E ratio of -1.83 and a beta of 1.17. Claros Mortgage Trust, Inc. has a 12-month low of $2.13 and a 12-month high of $9.81.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.07. The company had revenue of $44.50 million during the quarter, compared to analysts’ expectations of $41.91 million. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. Equities research analysts predict that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMTG. Keefe, Bruyette & Woods lowered their price objective on Claros Mortgage Trust from $2.50 to $2.25 and set an “underperform” rating for the company in a research note on Monday, May 12th. UBS Group restated a “buy” rating and set a $4.00 price objective (up previously from $3.50) on shares of Claros Mortgage Trust in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company lowered their price objective on Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating for the company in a research note on Tuesday, February 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.94.

Insider Activity

In other news, CFO Mike Mcgillis bought 24,115 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $3.30 per share, with a total value of $79,579.50. Following the transaction, the chief financial officer now directly owns 475,945 shares in the company, valued at approximately $1,570,618.50. This trade represents a 5.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Mack bought 115,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $3.19 per share, for a total transaction of $366,850.00. Following the completion of the transaction, the chief executive officer now owns 2,564,981 shares in the company, valued at approximately $8,182,289.39. The trade was a 4.69% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 169,115 shares of company stock valued at $547,930 over the last three months. Insiders own 1.40% 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.