Claros Mortgage Trust (NYSE:CMTG) Shares Gap Up After Insider Buying Activity

Claros Mortgage Trust, Inc. (NYSE:CMTG) gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $3.42, but opened at $3.67. Claros Mortgage Trust shares last traded at $3.86, with a volume of 261,768 shares traded.

Specifically, CEO Richard Mack purchased 115,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $3.19 per share, with a total value of $366,850.00. Following the acquisition, the chief executive officer now directly owns 2,564,981 shares of the company’s stock, valued at approximately $8,182,289.39. This represents a 4.69 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CMTG shares. Wells Fargo & Company decreased their price target on Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating for the company in a report on Tuesday, February 25th. UBS Group decreased their price target on Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating for the company in a report on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods decreased their price target on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $4.31.

Claros Mortgage Trust Trading Up 12.1 %

The company has a current ratio of 25.67, a quick ratio of 20.68 and a debt-to-equity ratio of 2.08. The business has a 50 day moving average of $3.31 and a 200-day moving average of $5.49. The stock has a market cap of $534.46 million, a PE ratio of -2.41 and a beta of 1.62.

Claros Mortgage Trust (NYSE:CMTG) last posted its earnings results 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. 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 for the quarter, compared to analyst estimates of $58.07 million. On average, analysts anticipate that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CMTG. Arlington Trust Co LLC acquired a new stake in shares of Claros Mortgage Trust during the 4th quarter worth $43,000. BNP Paribas Financial Markets acquired a new stake in shares of Claros Mortgage Trust during the 4th quarter worth $46,000. Townsquare Capital LLC acquired a new stake in shares of Claros Mortgage Trust during the 4th quarter worth $46,000. Squarepoint Ops LLC acquired a new stake in shares of Claros Mortgage Trust during the 4th quarter worth $46,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Claros Mortgage Trust during the 4th quarter worth $47,000. 89.53% of the stock is currently owned by institutional investors and hedge funds.

Claros Mortgage Trust Company Profile

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.