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

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report)'s stock price was down 2.8% during trading on Wednesday . The company traded as low as $4.08 and last traded at $4.00. Approximately 70,158 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,123,887 shares. The stock had previously closed at $4.11.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CMTG. UBS Group reduced their target price on shares of Claros Mortgage Trust from $6.00 to $5.25 and set a "buy" rating for the company 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 on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Claros Mortgage Trust has a consensus rating of "Hold" and an average target price of $4.31.

Claros Mortgage Trust Stock Performance

The stock's 50-day moving average price is $3.30 and its 200 day moving average price is $5.28. The company has a quick ratio of 20.68, a current ratio of 25.67 and a debt-to-equity ratio of 2.08. The company has a market cap of $577.66 million, a P/E ratio of -2.61 and a beta of 1.63.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. Claros Mortgage Trust had a negative net margin of 89.07% and a positive return on equity of 4.72%. The firm had revenue of $60.23 million for the quarter, compared to the consensus estimate of $58.07 million. As a group, research analysts expect that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mike Mcgillis bought 24,115 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $3.30 per share, with a total value of $79,579.50. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard Mack bought 25,000 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $3.38 per share, with a total value of $84,500.00. Following the completion of the purchase, the chief executive officer now owns 2,589,981 shares in the company, valued at approximately $8,754,135.78. The trade was a 0.97 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 169,115 shares of company stock valued at $547,930. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors have recently added to or reduced their stakes in CMTG. Atria Investments Inc raised its holdings in Claros Mortgage Trust by 29.2% in the 3rd quarter. Atria Investments Inc now owns 25,743 shares of the company's stock valued at $193,000 after acquiring an additional 5,823 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Claros Mortgage Trust in the third quarter valued at $101,000. Quest Partners LLC boosted its stake in Claros Mortgage Trust by 5,222.4% during the third quarter. Quest Partners LLC now owns 41,515 shares of the company's stock worth $311,000 after buying an additional 40,735 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Claros Mortgage Trust during the 3rd quarter worth about $114,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Claros Mortgage Trust by 15.6% during 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 acquiring an additional 188,950 shares in the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.

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.