Claros Mortgage Trust (NYSE:CMTG) Shares Up 4.1% – Here’s What Happened

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

Analysts Set New Price Targets

CMTG has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their price target on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating on the stock in a report on Thursday, February 27th. UBS Group cut their target price on Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company decreased their price target on shares of 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 assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.31.

Claros Mortgage Trust Trading Up 3.9 %

The business has a 50-day moving average of $3.29 and a 200-day moving average of $5.35. 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 cap of $581.84 million, a price-to-earnings ratio of -2.63 and a beta of 1.63.

Claros Mortgage Trust (NYSE:CMTG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate 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%. Research analysts anticipate that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current year.

Insiders Place Their Bets

In other Claros Mortgage Trust news, CFO Mike Mcgillis purchased 24,115 shares of Claros Mortgage Trust stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $3.30 per share, for a total transaction of $79,579.50. Following the completion of the acquisition, the chief financial officer now 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard Mack purchased 115,000 shares of the stock in a transaction on Monday, March 10th. The shares were acquired at an average cost 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 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. Over the last three months, insiders have bought 169,115 shares of company stock valued at $547,930. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Koch Inc. acquired a new stake in Claros Mortgage Trust during the 4th quarter valued at $68,374,000. Squarepoint Ops LLC acquired a new stake in shares of Claros Mortgage Trust during the 4th quarter worth about $46,000. ProShare Advisors LLC lifted its stake 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 bought a new stake in shares of Claros Mortgage Trust during the 4th quarter worth about $115,000. Finally, Millennium Management LLC grew its stake in Claros Mortgage Trust by 38.4% in the 4th quarter. Millennium Management LLC now owns 135,388 shares of the company’s stock valued at $612,000 after buying an additional 37,548 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

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.