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

Claros Mortgage Trust, Inc. (NYSE:CMTG) shares gapped up before the market opened on Thursday after an insider bought additional shares in the company. 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.

Specifically, CFO Mike Mcgillis purchased 24,115 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $3.30 per share, with a total value of $79,579.50. Following the completion of the transaction, the chief financial officer now owns 475,945 shares of the company’s stock, valued at $1,570,618.50. The trade was a 5.34 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard Mack acquired 115,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $3.19 per share, with a total value of $366,850.00. Following the transaction, the chief executive officer now owns 2,564,981 shares in the company, valued at approximately $8,182,289.39. This trade represents a 4.69 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analysts Set New Price Targets

CMTG has been the subject of several recent analyst reports. Wells Fargo & Company cut their target price on shares of 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. Keefe, Bruyette & Woods cut their price objective on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating for the company in a research report on Thursday, February 27th. Finally, UBS Group reduced their target price on Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Claros Mortgage Trust currently has a consensus rating of “Hold” and an average target price of $4.31.

Claros Mortgage Trust Trading Up 10.7 %

The company has a market cap of $556.76 million, a P/E ratio of -2.51 and a beta of 1.62. The business has a fifty day moving average price of $3.28 and a 200-day moving average price of $5.45. The company has a quick ratio of 20.68, a current ratio of 25.67 and a debt-to-equity ratio of 2.08.

Claros Mortgage Trust (NYSE:CMTG) last posted its quarterly earnings data 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. The firm 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, analysts forecast that Claros Mortgage Trust, Inc. will post 0.27 earnings per share for the current year.

Institutional Trading of Claros Mortgage Trust

Several hedge funds and other institutional investors have recently bought and sold shares of CMTG. Koch Inc. acquired a new position in shares of Claros Mortgage Trust during the 4th quarter worth approximately $68,374,000. Squarepoint Ops LLC bought a new stake in shares of Claros Mortgage Trust in the fourth quarter valued at approximately $46,000. ProShare Advisors LLC grew its position in Claros Mortgage Trust by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 24,311 shares of the company’s stock worth $110,000 after buying an additional 7,999 shares in the last quarter. Quantinno Capital Management LP bought a new position in Claros Mortgage Trust during the 4th quarter worth $115,000. Finally, Millennium Management LLC raised its holdings in Claros Mortgage Trust by 38.4% in the 4th quarter. Millennium Management LLC now owns 135,388 shares of the company’s stock valued at $612,000 after acquiring an additional 37,548 shares in the last quarter. Institutional investors and hedge funds 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.