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

Shares of 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 trading hands.

Specifically, CFO Mike Mcgillis purchased 24,115 shares of Claros Mortgage Trust stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $3.30 per share, for a total transaction of $79,579.50. Following the transaction, the chief financial officer now directly owns 475,945 shares in the company, valued at approximately $1,570,618.50. This trade represents a 5.34 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard Mack purchased 115,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $3.19 per share, for a total transaction of $366,850.00. Following the completion of the purchase, the chief executive officer now 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 position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased 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 note on Thursday, February 27th. UBS Group lowered their price target 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. Finally, Wells Fargo & Company lowered their price target on shares of Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” 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 issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Claros Mortgage Trust has an average rating of “Hold” and an average target price of $4.31.

Claros Mortgage Trust Trading Up 5.7 %

The firm has a market capitalization of $503.80 million, a PE ratio of -2.27 and a beta of 1.62. 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 fifty day moving average price of $3.29 and a two-hundred day moving average price of $5.48.

Claros Mortgage Trust (NYSE:CMTG) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $60.23 million during 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%. Analysts expect that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of hedge funds have recently modified their holdings of CMTG. Atria Investments Inc grew its stake in shares of Claros Mortgage Trust by 29.2% in the third quarter. Atria Investments Inc now owns 25,743 shares of the company’s stock valued at $193,000 after buying an additional 5,823 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Claros Mortgage Trust in the third quarter valued at $101,000. Quest Partners LLC grew its stake in shares of Claros Mortgage Trust by 5,222.4% in the third quarter. Quest Partners LLC now owns 41,515 shares of the company’s stock valued at $311,000 after buying an additional 40,735 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Claros Mortgage Trust in the third quarter valued at $114,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Claros Mortgage Trust by 15.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,402,648 shares of the company’s stock valued at $10,506,000 after buying an additional 188,950 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

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.