Claros Mortgage Trust (NYSE:CMTG) Upgraded by Wall Street Zen to Hold Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of Claros Mortgage Trust (NYSE:CMTG – Free Report) from a sell rating to a hold rating in a research note published on Saturday.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company reduced their price target on Claros Mortgage Trust from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Friday, February 20th. Keefe, Bruyette & Woods reduced their price target on Claros Mortgage Trust from $3.00 to $2.50 and set an “underperform” rating on the stock in a research report on Monday, March 2nd. One analyst has rated the stock with a Buy rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $3.00.

Check Out Our Latest Analysis on CMTG

Claros Mortgage Trust Trading Down 3.8%

NYSE CMTG opened at $2.43 on Friday. The company has a 50 day moving average price of $2.45 and a 200 day moving average price of $2.84. The company has a quick ratio of 21.44, a current ratio of 21.44 and a debt-to-equity ratio of 1.53. Claros Mortgage Trust has a 52 week low of $2.05 and a 52 week high of $3.99. The firm has a market cap of $340.03 million, a PE ratio of -0.73 and a beta of 1.18.

Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.28). The business had revenue of $29.52 million for the quarter, compared to analyst estimates of $36.94 million. Claros Mortgage Trust had a negative return on equity of 19.34% and a negative net margin of 267.14%. As a group, sell-side analysts forecast that Claros Mortgage Trust will post -1.66 EPS for the current fiscal year.

Insider Transactions at Claros Mortgage Trust

In related news, CFO Mike Mcgillis acquired 20,000 shares of the stock in a transaction dated Monday, March 2nd. The stock was acquired at an average cost of $2.34 per share, for a total transaction of $46,800.00. Following the completion of the purchase, the chief financial officer owned 603,007 shares of the company’s stock, valued at approximately $1,411,036.38. This represents a 3.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Edward Walter acquired 25,000 shares of the stock in a transaction dated Tuesday, February 24th. The shares were bought at an average price of $2.28 per share, with a total value of $57,000.00. Following the completion of the purchase, the director directly owned 32,000 shares of the company’s stock, valued at approximately $72,960. This trade represents a 357.14% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 95,000 shares of company stock worth $224,300. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Claros Mortgage Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in shares of Claros Mortgage Trust by 75.8% during the second quarter. BNP Paribas Financial Markets now owns 8,938 shares of the company’s stock worth $25,000 after buying an additional 3,854 shares during the period. Focus Partners Wealth acquired a new stake in shares of Claros Mortgage Trust during the third quarter worth $34,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Claros Mortgage Trust during the third quarter worth $34,000. Mariner LLC acquired a new stake in shares of Claros Mortgage Trust during the fourth quarter worth $38,000. Finally, Jump Financial LLC acquired a new stake in shares of Claros Mortgage Trust during the second quarter worth $44,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

About Claros Mortgage Trust

(Get Free Report)

Claros Mortgage Trust is a specialty finance company structured as a real estate investment trust that acquires and manages a portfolio of newly originated, conventional residential mortgage loans guaranteed or insured by U.S. government‐sponsored enterprises. The company concentrates on Agency collateral, including loans backed by Ginnie Mae, Fannie Mae and Freddie Mac, aiming to generate current income while preserving capital through high‐quality, credit‐enhanced assets.

Under an external management agreement with Claros Mortgage Capital Advisors LLC, the firm leverages a seasoned team to source, underwrite and service mortgage assets.

Recommended Stories