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

Claros Mortgage Trust, Inc. (NYSE:CMTG) shares gapped up prior to trading 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 topic of several analyst reports. 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. Wells Fargo & Company reduced their price objective 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. Finally, Keefe, Bruyette & Woods lowered 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. Two 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. Based on data from MarketBeat, Claros Mortgage Trust has an average rating of “Hold” and a consensus price target of $4.31.

Claros Mortgage Trust Price Performance

The stock’s 50 day simple moving average is $3.30 and its 200-day simple moving average is $5.21. The firm has a market cap of $548.39 million, a price-to-earnings ratio of -2.47 and a beta of 1.62. The company has a debt-to-equity ratio of 2.08, a quick ratio of 20.68 and a current ratio of 25.67.

Claros Mortgage Trust (NYSE:CMTG) last released its earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $60.23 million for the quarter, compared to the consensus estimate of $58.07 million. Equities research analysts anticipate that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Claros Mortgage Trust news, CEO Richard Mack bought 25,000 shares of Claros Mortgage Trust stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $3.38 per share, with a total value of $84,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,589,981 shares in the company, valued at approximately $8,754,135.78. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mike Mcgillis purchased 24,115 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost 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 $1,570,618.50. The trade was a 5.34 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 169,115 shares of company stock valued at $547,930 over the last quarter. 1.40% of the stock is currently owned by company insiders.

Institutional Trading of Claros Mortgage Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new stake in shares of Claros Mortgage Trust in the third quarter worth approximately $114,000. Charles Schwab Investment Management Inc. lifted its holdings in Claros Mortgage Trust by 15.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after purchasing an additional 188,950 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Claros Mortgage Trust by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 134,542 shares of the company’s stock worth $1,007,000 after purchasing an additional 25,110 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of Claros Mortgage Trust in the third quarter valued at about $208,000. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Claros Mortgage Trust in the third quarter worth about $2,552,000. 89.53% of the stock is currently owned by hedge funds and other 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.