Claros Mortgage Trust (NYSE:CMTG) Shares Gap Up – What’s Next?

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $4.04, but opened at $4.13. Claros Mortgage Trust shares last traded at $4.01, with a volume of 117,881 shares traded.

Analysts Set New Price Targets

CMTG has been the subject of a number of analyst reports. UBS Group reduced their price objective 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. Keefe, Bruyette & Woods reduced their price target on shares of Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating for the company in a research report on Thursday, February 27th. Finally, Wells Fargo & Company lowered their price objective 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.31.

Claros Mortgage Trust Stock Down 4.1 %

The firm has a market cap of $540.03 million, a P/E ratio of -2.44 and a beta of 1.62. The business’s fifty day moving average price is $3.30 and its two-hundred day moving average price is $5.23. The company has a current ratio of 25.67, a quick ratio of 20.68 and a debt-to-equity ratio of 2.08.

Claros Mortgage Trust (NYSE:CMTG) last issued 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. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. The business had revenue of $60.23 million for the quarter, compared to analyst estimates of $58.07 million. As a group, equities research analysts anticipate that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current year.

Insider Activity at Claros Mortgage Trust

In other Claros Mortgage Trust news, CFO Mike Mcgillis bought 24,115 shares of the firm’s 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 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard Mack bought 25,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $3.38 per share, for a total transaction of $84,500.00. Following the purchase, the chief executive officer now owns 2,589,981 shares of the company’s stock, valued at $8,754,135.78. This trade represents a 0.97 % 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 worth $547,930 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Institutional Trading of Claros Mortgage Trust

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its stake in shares of Claros Mortgage Trust by 18.4% in the 4th quarter. SG Americas Securities LLC now owns 23,769 shares of the company’s stock valued at $107,000 after purchasing an additional 3,694 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Claros Mortgage Trust by 19.0% during the fourth quarter. Sei Investments Co. now owns 23,828 shares of the company’s stock worth $108,000 after buying an additional 3,800 shares in the last quarter. State Street Corp grew its position 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 acquiring an additional 6,882 shares during the last quarter. ProShare Advisors LLC increased its holdings in Claros Mortgage Trust by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 24,311 shares of the company’s stock valued at $110,000 after purchasing an additional 7,999 shares in the last quarter. Finally, Arlington Trust Co LLC bought a new position in Claros Mortgage Trust in the 4th quarter valued at $43,000. 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.