Insider Buying: Claros Mortgage Trust, Inc. (NYSE:CMTG) CEO Acquires 115,000 Shares of Stock

Claros Mortgage Trust, Inc. (NYSE:CMTG) CEO Richard Mack bought 115,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $3.19 per share, for a total transaction of $366,850.00. Following the transaction, the chief executive officer now owns 2,564,981 shares of the company’s stock, valued at $8,182,289.39. The trade was a 4.69 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Claros Mortgage Trust Stock Up 5.7 %

Shares of CMTG opened at $3.62 on Friday. The firm has a market cap of $503.80 million, a PE ratio of -2.27 and a beta of 1.62. The company’s fifty day moving average is $3.29 and its two-hundred day moving average is $5.48. Claros Mortgage Trust, Inc. has a fifty-two week low of $2.13 and a fifty-two week high of $10.05. The company has a quick ratio of 20.68, a current ratio of 25.67 and a debt-to-equity ratio of 2.08.

Claros Mortgage Trust (NYSE:CMTG) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share 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 company had revenue of $60.23 million for the quarter, compared to analyst estimates of $58.07 million. Analysts forecast that Claros Mortgage Trust, Inc. will post 0.27 earnings per share for the current year.

Hedge Funds Weigh In On Claros Mortgage Trust

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CMTG shares. Wells Fargo & Company decreased their target price on shares of 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. UBS Group decreased their target price on shares of 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. Finally, Keefe, Bruyette & Woods decreased their target price on shares of 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 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 MarketBeat.com, Claros Mortgage Trust has an average rating of “Hold” and an average price target of $4.31.

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.