Claros Mortgage Trust (NYSE:CMTG) Announces Earnings Results

by · The Markets Daily

Claros Mortgage Trust (NYSE:CMTG – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.31, FiscalAI reports. Claros Mortgage Trust had a negative net margin of 354.13% and a negative return on equity of 19.70%. The firm had revenue of $32.64 million during the quarter, compared to the consensus estimate of $24.25 million.

Claros Mortgage Trust Price Performance

Shares of NYSE CMTG traded up $0.72 during mid-day trading on Wednesday, reaching $1.83. 15,166,408 shares of the company’s stock traded hands, compared to its average volume of 685,841. The business has a 50-day simple moving average of $1.34 and a 200 day simple moving average of $2.12. The stock has a market cap of $258.88 million, a P/E ratio of -0.48 and a beta of 1.17. Claros Mortgage Trust has a 1-year low of $1.09 and a 1-year high of $3.62.

Insider Transactions at Claros Mortgage Trust

In other Claros Mortgage Trust news, CFO Mike Mcgillis purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average price of $1.71 per share, with a total value of $42,750.00. Following the transaction, the chief financial officer owned 749,000 shares in the company, valued at $1,280,790. The trade was a 3.45% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Mack purchased 20,603 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was acquired at an average cost of $1.59 per share, for a total transaction of $32,758.77. Following the transaction, the chief executive officer owned 3,110,911 shares in the company, valued at $4,946,348.49. This represents a 0.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 245,603 shares of company stock worth $393,509 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. UBS Group started coverage on Claros Mortgage Trust in a research report on Thursday, July 16th. They issued a “neutral” rating and a $2.75 target price for the company. Wall Street Zen lowered Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a report on Saturday, August 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of Claros Mortgage Trust in a research note on Friday. Keefe, Bruyette & Woods decreased their price objective on Claros Mortgage Trust from $2.15 to $1.75 and set an “underperform” rating for the company in a report on Friday, October 9th. Finally, Wells Fargo & Company lowered their target price on Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating on the stock in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Sell” and an average price target of $2.08.

Get Our Latest Stock Analysis on CMTG

About Claros Mortgage Trust

(Get Free Report)

Claros Mortgage Trust, Inc is a real estate investment trust focused on originating, acquiring and managing commercial real estate debt investments. The company primarily provides financing to owners and investors of commercial properties, with an emphasis on transitional assets that may require renovation, repositioning or lease-up before reaching stabilized operations.

Its investment portfolio has primarily consisted of senior and subordinate mortgage loans secured by commercial real estate, including multifamily, office, hotel, retail, industrial and mixed-use properties.

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