Claros Mortgage Trust (NYSE:CMTG) Posts Quarterly Earnings Results, Misses Expectations By $0.38 EPS

Claros Mortgage Trust (NYSE:CMTG) announced its earnings results on Wednesday. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.38), FiscalAI reports. The firm had revenue of $30.00 million during the quarter, compared to analysts’ expectations of $33.55 million. Claros Mortgage Trust had a negative net margin of 354.13% and a negative return on equity of 18.61%.

Claros Mortgage Trust Price Performance

Shares of NYSE CMTG traded down $0.04 during mid-day trading on Friday, reaching $1.77. The company’s stock had a trading volume of 411,909 shares, compared to its average volume of 550,608. The company has a debt-to-equity ratio of 1.53, a current ratio of 21.44 and a quick ratio of 21.44. Claros Mortgage Trust has a 52 week low of $1.75 and a 52 week high of $3.99. The stock has a fifty day moving average of $2.36 and a two-hundred day moving average of $2.46. The firm has a market capitalization of $248.89 million, a PE ratio of -0.46 and a beta of 1.13.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMTG. BNP Paribas Financial Markets raised its position in shares of Claros Mortgage Trust by 75.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 8,938 shares of the company’s stock valued at $25,000 after buying an additional 3,854 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Claros Mortgage Trust in the third quarter worth about $34,000. Mariner LLC bought a new stake in Claros Mortgage Trust during the 4th quarter valued at about $38,000. Jump Financial LLC bought a new stake in Claros Mortgage Trust during the 2nd quarter valued at about $44,000. Finally, CIBC Asset Management Inc purchased a new stake in Claros Mortgage Trust in the 4th quarter valued at about $48,000. 89.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CMTG shares. Wall Street Zen upgraded shares of Claros Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Keefe, Bruyette & Woods decreased their price target on shares of Claros Mortgage Trust from $2.50 to $2.25 and set an “underperform” rating for the company in a research note on Wednesday, May 13th. UBS Group initiated coverage on Claros Mortgage Trust in a research report on Thursday, July 16th. They set a “neutral” rating and a $2.75 price objective on the stock. Finally, Weiss Ratings raised Claros Mortgage Trust from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Strong Sell” and an average target price of $2.50.

Claros Mortgage Trust Company Profile

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.