Bank of New York Mellon Corp Acquires 217,989 Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG)

Bank of New York Mellon Corp raised its stake in shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) by 62.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 568,754 shares of the company’s stock after buying an additional 217,989 shares during the quarter. Bank of New York Mellon Corp’s holdings in Claros Mortgage Trust were worth $2,571,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CMTG. Arlington Trust Co LLC purchased a new position in shares of Claros Mortgage Trust during the 4th quarter valued at $43,000. GSA Capital Partners LLP purchased a new stake in Claros Mortgage Trust during the third quarter valued at approximately $101,000. SG Americas Securities LLC increased its position in Claros Mortgage Trust by 18.4% during the fourth quarter. SG Americas Securities LLC now owns 23,769 shares of the company’s stock valued at $107,000 after acquiring an additional 3,694 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Claros Mortgage Trust in the 3rd quarter worth about $114,000. Finally, Blue Trust Inc. grew its position in Claros Mortgage Trust by 501.4% in the 4th quarter. Blue Trust Inc. now owns 32,509 shares of the company’s stock valued at $147,000 after acquiring an additional 27,103 shares during the last quarter. Institutional investors own 89.53% of the company’s stock.

Insider Transactions at Claros Mortgage Trust

In related news, CEO Richard Mack bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost of $3.38 per share, with a total value of $84,500.00. Following the transaction, the chief executive officer now directly owns 2,589,981 shares of the company’s stock, valued at approximately $8,754,135.78. This represents a 0.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mike Mcgillis purchased 24,115 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $3.30 per share, for a total transaction of $79,579.50. Following the purchase, the chief financial officer now directly owns 475,945 shares in the company, valued at $1,570,618.50. The trade was a 5.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 169,115 shares of company stock valued at $547,930. 1.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CMTG has been the subject of several research reports. Keefe, Bruyette & Woods lowered their target price 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. UBS Group cut their price objective on Claros Mortgage Trust from $6.00 to $5.25 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their target price on Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.31.

Claros Mortgage Trust Price Performance

Claros Mortgage Trust stock opened at $4.16 on Friday. The company has a quick ratio of 20.68, a current ratio of 25.67 and a debt-to-equity ratio of 2.08. The company has a fifty day simple moving average of $3.29 and a 200-day simple moving average of $5.34. 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 $579.05 million, a price-to-earnings ratio of -2.61 and a beta of 1.63.

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, topping the consensus estimate of $0.12 by $0.03. The company 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%. On average, equities analysts anticipate that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current fiscal year.

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.