Claros Mortgage Trust (NYSE:CMTG) Trading Up 2.8% - Here's Why

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) shot up 2.8% during mid-day trading on Monday . The stock traded as high as $3.85 and last traded at $3.85. 121,059 shares were traded during mid-day trading, a decline of 79% from the average session volume of 565,376 shares. The stock had previously closed at $3.74.

Analyst Upgrades and Downgrades

CMTG has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Claros Mortgage Trust from $8.00 to $3.00 and set an "underweight" rating on the stock in a report on Tuesday, February 25th. Keefe, Bruyette & Woods dropped their price target on shares of Claros Mortgage Trust from $4.00 to $2.50 and set an "underperform" rating on the stock in a research report on Thursday, February 27th. Finally, UBS Group decreased their price objective on Claros Mortgage Trust from $6.00 to $5.25 and set a "buy" rating for the company in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Claros Mortgage Trust presently has an average rating of "Hold" and an average target price of $4.31.

Claros Mortgage Trust Stock Down 0.5 %

The company has a current ratio of 25.67, a quick ratio of 20.68 and a debt-to-equity ratio of 2.08. The firm has a market capitalization of $434.12 million, a P/E ratio of -1.96 and a beta of 1.11. The stock's 50-day simple moving average is $3.29 and its 200-day simple moving average is $5.06.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) 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. The company had revenue of $60.23 million during 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%. As a group, research analysts predict that Claros Mortgage Trust, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mike Mcgillis acquired 24,115 shares of Claros Mortgage Trust stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $3.30 per share, with a total value of $79,579.50. Following the completion of the acquisition, the chief financial officer now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Mack bought 115,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased 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 of the company's stock, valued at approximately $8,182,289.39. This trade represents a 4.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 169,115 shares of company stock valued at $547,930. 1.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CMTG. Koch Inc. purchased a new stake in Claros Mortgage Trust during the fourth quarter valued at about $68,374,000. Squarepoint Ops LLC bought a new stake in shares of Claros Mortgage Trust in the fourth quarter valued at approximately $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 valued at $110,000 after buying an additional 7,999 shares in the last quarter. Quantinno Capital Management LP bought a new position in Claros Mortgage Trust in the 4th quarter worth approximately $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 in the last quarter. Institutional investors own 89.53% of the company's stock.

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.