Claros Mortgage Trust (NYSE:CMTG) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03, Zacks reports. 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 analysts' expectations of $58.07 million.

Claros Mortgage Trust Stock Down 2.5 %

NYSE CMTG traded down $0.08 on Friday, hitting $2.93. 1,300,493 shares of the stock traded hands, compared to its average volume of 668,712. The stock has a 50-day moving average of $3.77 and a 200 day moving average of $6.00. Claros Mortgage Trust has a twelve month low of $2.77 and a twelve month high of $10.15. The company has a market capitalization of $407.63 million, a P/E ratio of -1.84 and a beta of 1.57. The company has a current ratio of 25.67, a quick ratio of 20.68 and a debt-to-equity ratio of 2.08.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMTG. Keefe, Bruyette & Woods cut their price target on Claros Mortgage Trust from $6.50 to $4.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 14th. UBS Group upgraded Claros Mortgage Trust from a "neutral" rating to a "buy" rating and cut their price target for the stock from $8.00 to $6.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.13.

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.