Claros Mortgage Trust (NYSE:CMTG) Sees Unusually-High Trading Volume on Insider Buying Activity

Claros Mortgage Trust, Inc. (NYSE:CMTG) shares saw unusually-high trading volume on Friday after an insider bought additional shares in the company. Approximately 806,074 shares changed hands during trading, an increase of 65% from the previous session’s volume of 489,257 shares.The stock last traded at $3.98 and had previously closed at $3.61.

Specifically, CFO Mike Mcgillis purchased 24,115 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average price of $3.30 per share, for a total transaction of $79,579.50. Following the completion of the purchase, the chief financial officer now directly owns 475,945 shares in the company, valued at approximately $1,570,618.50. This trade represents a 5.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard Mack acquired 115,000 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $3.19 per share, for a total transaction of $366,850.00. Following the completion of the purchase, the chief executive officer now owns 2,564,981 shares in the company, valued at approximately $8,182,289.39. This trade represents a 4.69 % increase in their position. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

Several analysts recently commented on CMTG shares. 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 note on Tuesday, February 25th. Wells Fargo & Company decreased their price objective 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 cut their price target on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating on the stock in a research note on Thursday, February 27th. 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 stock. According to MarketBeat.com, Claros Mortgage Trust currently has a consensus rating of “Hold” and a consensus price target of $4.31.

Claros Mortgage Trust Stock Up 10.1 %

The business’s fifty day simple moving average is $3.29 and its 200 day simple moving average is $5.48. The stock has a market cap of $553.97 million, a price-to-earnings ratio of -2.50 and a beta of 1.62. 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 data on Wednesday, February 19th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $60.23 million during the quarter, compared to analysts’ expectations of $58.07 million. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. Equities analysts forecast that Claros Mortgage Trust, Inc. will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Arlington Trust Co LLC bought a new position in shares of Claros Mortgage Trust during the fourth quarter worth $43,000. Townsquare Capital LLC bought a new stake in shares of Claros Mortgage Trust in the fourth quarter worth $46,000. BNP Paribas Financial Markets acquired a new position in Claros Mortgage Trust during the fourth quarter worth $46,000. Squarepoint Ops LLC acquired a new position in Claros Mortgage Trust during the fourth quarter worth $46,000. Finally, Proficio Capital Partners LLC bought a new position in Claros Mortgage Trust in the fourth quarter valued at $47,000. 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.