Claros Mortgage Trust, Inc. (NYSE:CMTG – Get Free Report) gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $6.99, but opened at $7.51. Claros Mortgage Trust shares last traded at $7.87, with a volume of 74,168 shares trading hands.
Specifically, CEO Richard Mack bought 116,000 shares of Claros Mortgage Trust stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $7.18 per share, for a total transaction of $832,880.00. Following the completion of the acquisition, the chief executive officer now owns 2,551,853 shares of the company’s stock, valued at approximately $18,322,304.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Richard Mack acquired 116,000 shares of Claros Mortgage Trust stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $7.18 per share, with a total value of $832,880.00. Following the completion of the purchase, the chief executive officer now owns 2,551,853 shares of the company’s stock, valued at $18,322,304.54. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mike Mcgillis bought 15,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was purchased at an average price of $7.34 per share, with a total value of $110,100.00. Following the completion of the acquisition, the chief financial officer now owns 475,419 shares of the company’s stock, valued at $3,489,575.46. The disclosure for this purchase can be found here. Insiders have acquired 193,000 shares of company stock worth $1,393,140 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
CMTG has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 8th. JPMorgan Chase & Co. decreased their price objective on 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. UBS Group dropped their target price on 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, Keefe, Bruyette & Woods decreased 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.
Get Our Latest Stock Analysis on Claros Mortgage Trust
Claros Mortgage Trust Stock Performance
The firm has a 50-day simple moving average of $8.76 and a two-hundred day simple moving average of $10.68. The company has a current ratio of 26.27, a quick ratio of 26.27 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -12.69 and a beta of 1.59.
Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.04. The firm had revenue of $58.83 million for the quarter, compared to the consensus estimate of $63.64 million. Claros Mortgage Trust had a positive return on equity of 1.51% and a negative net margin of 28.16%. As a group, sell-side analysts forecast that Claros Mortgage Trust, Inc. will post 0.27 earnings per share for the current fiscal year.
Claros Mortgage Trust Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.76%. Claros Mortgage Trust’s dividend payout ratio is currently -161.29%.
Institutional Investors Weigh In On Claros Mortgage Trust
Large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in Claros Mortgage Trust by 11,644.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock worth $199,122,000 after purchasing an additional 14,484,684 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Claros Mortgage Trust by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock worth $111,810,000 after buying an additional 30,377 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Claros Mortgage Trust by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock valued at $11,874,000 after buying an additional 13,165 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Claros Mortgage Trust by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 393,169 shares of the company’s stock worth $4,356,000 after acquiring an additional 15,895 shares during the period. Finally, Van ECK Associates Corp lifted its position in Claros Mortgage Trust by 0.7% during the 1st quarter. Van ECK Associates Corp now owns 324,363 shares of the company’s stock worth $3,166,000 after acquiring an additional 2,190 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.
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.
Further Reading
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