Insider Buying: Claros Mortgage Trust, Inc. (NYSE:CMTG) CFO Purchases 24,115 Shares of Stock

Claros Mortgage Trust, Inc. (NYSE:CMTG) CFO Mike Mcgillis acquired 24,115 shares of Claros Mortgage Trust stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $3.30 per share, for a total transaction of $79,579.50. Following the completion of the purchase, the chief financial officer now directly owns 475,945 shares of the company’s stock, valued at $1,570,618.50. The trade was a 5.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Claros Mortgage Trust Stock Up 5.7 %

CMTG traded up $0.20 during midday trading on Thursday, hitting $3.62. 2,974,427 shares of the company’s stock traded hands, compared to its average volume of 487,010. The stock’s fifty day simple moving average is $3.31 and its 200-day simple moving average is $5.49. Claros Mortgage Trust, Inc. has a one year low of $2.13 and a one year high of $10.05. The company has a market cap of $503.80 million, a PE ratio of -2.27 and a beta of 1.62. The company has a debt-to-equity ratio of 2.08, a current ratio of 25.67 and a quick ratio of 20.68.

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

Analyst Ratings Changes

CMTG has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on 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. UBS Group lowered their target price on shares of Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Finally, 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.31.

Institutional Investors Weigh In On Claros Mortgage Trust

Several hedge funds have recently made changes to their positions in the stock. Koch Inc. acquired a new position in Claros Mortgage Trust in the 4th quarter valued at approximately $68,374,000. Squarepoint Ops LLC bought a new stake in shares of Claros Mortgage Trust during the fourth quarter valued at approximately $46,000. ProShare Advisors LLC raised its stake in shares of Claros Mortgage Trust by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 24,311 shares of the company’s stock valued at $110,000 after purchasing an additional 7,999 shares in the last quarter. Quantinno Capital Management LP bought a new position in Claros Mortgage Trust in the fourth quarter worth $115,000. Finally, Millennium Management LLC boosted its stake in Claros Mortgage Trust by 38.4% during the fourth quarter. Millennium Management LLC now owns 135,388 shares of the company’s stock worth $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.