Insider Buying: Claros Mortgage Trust, Inc. (NYSE:CMTG) Director Buys 7,000 Shares of Stock

Claros Mortgage Trust, Inc. (NYSE:CMTGGet Free Report) Director W Edward Walter bought 7,000 shares of Claros Mortgage Trust stock in a transaction on Tuesday, May 28th. The shares were bought at an average cost of $7.21 per share, with a total value of $50,470.00. Following the acquisition, the director now directly owns 13,760 shares in the company, valued at $99,209.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Claros Mortgage Trust Price Performance

CMTG stock traded down $0.03 during midday trading on Wednesday, reaching $6.99. The company had a trading volume of 565,745 shares, compared to its average volume of 315,496. The firm has a 50-day moving average price of $8.82 and a 200-day moving average price of $10.71. The company has a market capitalization of $969.15 million, a P/E ratio of -11.27 and a beta of 1.59. Claros Mortgage Trust, Inc. has a 1 year low of $6.80 and a 1 year high of $15.25. The company has a debt-to-equity ratio of 2.07, a current ratio of 26.27 and a quick ratio of 26.27.

Claros Mortgage Trust (NYSE:CMTGGet Free Report) last announced its earnings results on Monday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The company had revenue of $58.83 million during the quarter, compared to analyst estimates of $63.64 million. Claros Mortgage Trust had a negative net margin of 28.16% and a positive return on equity of 1.51%. On average, research analysts anticipate that Claros Mortgage Trust, Inc. will post 0.27 earnings per share for the current fiscal year.

Claros Mortgage Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.32%. The ex-dividend date was Wednesday, March 27th. Claros Mortgage Trust’s payout ratio is currently -161.29%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price objective on shares of Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. Keefe, Bruyette & Woods cut their price target on shares of Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating for the company in a report on Wednesday, April 10th. UBS Group decreased their price target on shares of Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. Finally, Wells Fargo & Company dropped their price objective on Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 8th.

Check Out Our Latest Research Report on Claros Mortgage Trust

Hedge Funds Weigh In On Claros Mortgage Trust

Institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in Claros Mortgage Trust by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 393,169 shares of the company’s stock worth $4,356,000 after buying an additional 15,895 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Claros Mortgage Trust in the 3rd quarter worth approximately $149,000. New York State Common Retirement Fund lifted its holdings in shares of Claros Mortgage Trust by 28.9% in the 3rd quarter. New York State Common Retirement Fund now owns 74,041 shares of the company’s stock worth $820,000 after acquiring an additional 16,602 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Claros Mortgage Trust by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 857,991 shares of the company’s stock valued at $9,507,000 after purchasing an additional 18,609 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Claros Mortgage Trust by 10.5% during the 3rd quarter. Van ECK Associates Corp now owns 316,708 shares of the company’s stock valued at $3,509,000 after purchasing an additional 30,106 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.

Claros Mortgage Trust Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Claros Mortgage Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Claros Mortgage Trust and related companies with MarketBeat.com's FREE daily email newsletter.