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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group decreased their price target on Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Wells Fargo & Company decreased their price target on Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods decreased their price target 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $4.31.

Claros Mortgage Trust Price Performance

The stock has a market capitalization of $577.66 million, a P/E ratio of -2.61 and a beta of 1.63. The company has a debt-to-equity ratio of 2.08, a quick ratio of 20.68 and a current ratio of 25.67. The stock has a 50-day simple moving average of $3.30 and a 200 day simple moving average of $5.31.

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

Insider Transactions at Claros Mortgage Trust

In related news, CFO Mike Mcgillis purchased 24,115 shares of Claros Mortgage Trust stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $3.30 per share, for a total transaction of $79,579.50. Following the transaction, the chief financial officer now directly owns 475,945 shares of the company’s stock, valued at approximately $1,570,618.50. This trade represents a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard Mack purchased 25,000 shares of Claros Mortgage Trust stock in a transaction dated Wednesday, March 12th. The stock was bought at an average price of $3.38 per share, for a total transaction of $84,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,589,981 shares in the company, valued at $8,754,135.78. The trade was a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 169,115 shares of company stock worth $547,930 in the last three months. Insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Koch Inc. acquired a new stake in Claros Mortgage Trust during the 4th quarter worth $68,374,000. Geode Capital Management LLC raised its stake in Claros Mortgage Trust by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,330,895 shares of the company’s stock worth $10,538,000 after buying an additional 10,835 shares during the period. State Street Corp raised its stake in Claros Mortgage Trust by 0.3% during the 3rd quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after buying an additional 6,882 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Claros Mortgage Trust by 19.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,679,701 shares of the company’s stock worth $7,592,000 after buying an additional 277,053 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Claros Mortgage Trust by 35.5% during the 4th quarter. JPMorgan Chase & Co. now owns 649,674 shares of the company’s stock worth $2,937,000 after buying an additional 170,244 shares during the period. 89.53% of the stock is currently owned by institutional investors.

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.