Richard Mack Purchases 115,000 Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) Stock

Claros Mortgage Trust, Inc. (NYSE:CMTG) CEO Richard Mack acquired 115,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was acquired 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 directly owns 2,564,981 shares of the company’s stock, valued at $8,182,289.39. This trade represents a 4.69 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Claros Mortgage Trust Stock Performance

CMTG traded up $0.20 on Wednesday, hitting $3.43. 1,140,205 shares of the stock traded hands, compared to its average volume of 475,950. The business has a fifty day moving average price of $3.33 and a two-hundred day moving average price of $5.51. The company has a current ratio of 25.67, a quick ratio of 20.68 and a debt-to-equity ratio of 2.08. Claros Mortgage Trust, Inc. has a 52 week low of $2.13 and a 52 week high of $10.05. The firm has a market capitalization of $477.32 million, a PE ratio of -2.15 and a beta of 1.62.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $60.23 million for the quarter, compared to analysts’ expectations of $58.07 million. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. On average, research analysts predict that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Claros Mortgage Trust

Several institutional investors and hedge funds have recently bought and sold shares of CMTG. Koch Inc. acquired a new stake in shares of Claros Mortgage Trust during the 4th quarter valued at about $68,374,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Claros Mortgage Trust in the third quarter worth about $2,552,000. JPMorgan Chase & Co. lifted its stake in Claros Mortgage Trust by 236.4% during the third quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after purchasing an additional 336,931 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Claros Mortgage Trust by 19.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,679,701 shares of the company’s stock valued at $7,592,000 after purchasing an additional 277,053 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Claros Mortgage Trust by 62.1% in the 4th quarter. Bank of New York Mellon Corp now owns 568,754 shares of the company’s stock valued at $2,571,000 after purchasing an additional 217,989 shares during the period. Institutional investors own 89.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods lowered their target price on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company reduced their price objective on Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating for the company in a research report on Tuesday, February 25th. Finally, UBS Group dropped 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 report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.31.

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.