Claros Mortgage Trust, Inc. (NYSE:CMTG) Receives Consensus Recommendation of “Reduce” from Brokerages

Claros Mortgage Trust, Inc. (NYSE:CMTG) has been given a consensus recommendation of “Reduce” by the six research firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $4.31.

Several research analysts recently issued reports on CMTG shares. Wells Fargo & Company cut their target price 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. UBS Group dropped their price objective 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, Keefe, Bruyette & Woods reduced their target price on shares of Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating for the company in a research note on Thursday, February 27th.

Insider Activity

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

Institutional Trading of Claros Mortgage Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Koch Inc. purchased a new position in Claros Mortgage Trust during the fourth quarter valued at approximately $68,374,000. Hotchkis & Wiley Capital Management LLC bought a new position in Claros Mortgage Trust in the 3rd quarter valued at $2,552,000. JPMorgan Chase & Co. grew its position in shares of Claros Mortgage Trust by 236.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock valued at $3,591,000 after purchasing an additional 336,931 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Claros Mortgage Trust by 19.8% in the fourth 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Claros Mortgage Trust by 62.1% during the fourth quarter. Bank of New York Mellon Corp now owns 568,754 shares of the company’s stock valued at $2,571,000 after buying an additional 217,989 shares during the period. Institutional investors own 89.53% of the company’s stock.

Claros Mortgage Trust Stock Down 3.7 %

Claros Mortgage Trust stock opened at $3.77 on Wednesday. The firm has a market capitalization of $524.70 million, a price-to-earnings ratio of -2.37 and a beta of 1.62. The firm’s fifty day moving average price is $3.30 and its two-hundred day moving average price is $5.15. Claros Mortgage Trust has a 1-year low of $2.13 and a 1-year high of $9.81. 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 announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The business had revenue of $60.23 million for the quarter, compared to analysts’ expectations of $58.07 million. Claros Mortgage Trust had a negative net margin of 89.07% and a positive return on equity of 4.72%. On average, equities research analysts predict that Claros Mortgage Trust will post 0.27 earnings per share for the current fiscal year.

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.