Claros Mortgage Trust (NYSE:CMTG) Stock Price Down 2.8% – Should You Sell?

Claros Mortgage Trust, Inc. (NYSE:CMTG)’s share price fell 2.8% during trading on Wednesday . The stock traded as low as $4.08 and last traded at $4.00. 70,158 shares were traded during trading, a decline of 94% from the average session volume of 1,123,887 shares. The stock had previously closed at $4.11.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods cut their target price on Claros Mortgage Trust from $4.00 to $2.50 and set an “underperform” rating on the stock 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 research note on Tuesday, February 25th. Finally, Wells Fargo & Company lowered their price target on Claros Mortgage Trust from $8.00 to $3.00 and set an “underweight” rating on the stock in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $4.31.

Claros Mortgage Trust Stock Performance

The stock has a market cap of $579.05 million, a P/E ratio of -2.61 and a beta of 1.63. The firm has a 50 day moving average of $3.29 and a two-hundred day moving average of $5.34. The company has a debt-to-equity ratio of 2.08, a quick ratio of 20.68 and a current ratio of 25.67.

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, beating the consensus estimate of $0.12 by $0.03. Claros Mortgage Trust had a positive return on equity of 4.72% and a negative net margin of 89.07%. The company had revenue of $60.23 million during the quarter, compared to analysts’ expectations of $58.07 million. On average, research analysts predict that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Claros Mortgage Trust news, CFO Mike Mcgillis purchased 24,115 shares of the firm’s stock in a transaction 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 completion of the purchase, the chief financial officer now directly owns 475,945 shares of the company’s stock, valued at approximately $1,570,618.50. This represents a 5.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Mack acquired 115,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $3.19 per share, with a total value of $366,850.00. Following the purchase, the chief executive officer now owns 2,564,981 shares in the company, 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. Insiders have purchased 169,115 shares of company stock worth $547,930 in the last ninety days. Insiders own 1.40% of the company’s stock.

Institutional Trading of Claros Mortgage Trust

Several institutional investors have recently made changes to their positions in CMTG. State Street Corp lifted its stake in Claros Mortgage Trust by 0.3% during the third quarter. State Street Corp now owns 2,165,863 shares of the company’s stock worth $16,436,000 after purchasing an additional 6,882 shares during the period. Barclays PLC raised its holdings in shares of Claros Mortgage Trust by 332.1% in the 3rd quarter. Barclays PLC now owns 138,291 shares of the company’s stock worth $1,037,000 after buying an additional 106,289 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Claros Mortgage Trust by 236.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 479,430 shares of the company’s stock worth $3,591,000 after buying an additional 336,931 shares during the period. Atria Investments Inc boosted its stake in Claros Mortgage Trust by 29.2% in the 3rd 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. Finally, Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 188,950 shares during the period. 89.53% of the stock is currently owned by institutional investors and hedge funds.

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.