Key Points
- Claros Mortgage Trust CFO Mike McGillis bought 25,000 shares at an average price of $1.71, increasing his direct stake by 3.45% to 749,000 shares.
- The company reported weak quarterly results, with a $0.63 loss per share versus a $0.25 consensus loss and revenue of $30 million below the $33.55 million estimate.
- Analyst sentiment remains negative: CMTG has an average “Strong Sell” rating, a $2.22 consensus price target, and recent price-target cuts from Wells Fargo and Keefe, Bruyette & Woods.
Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) CFO Mike Mcgillis bought 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average cost of $1.71 per share, for a total transaction of $42,750.00. Following the transaction, the chief financial officer directly owned 749,000 shares of the company's stock, valued at $1,280,790. This trade represents a 3.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Claros Mortgage Trust Price Performance
NYSE:CMTG opened at $1.78 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 21.44 and a quick ratio of 21.44. Claros Mortgage Trust, Inc. has a one year low of $1.66 and a one year high of $3.99. The company has a fifty day moving average price of $2.28 and a 200 day moving average price of $2.41. The stock has a market cap of $251.12 million, a P/E ratio of -0.46 and a beta of 1.16.
Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.38). Claros Mortgage Trust had a negative return on equity of 19.70% and a negative net margin of 354.13%.The company had revenue of $30.00 million during the quarter, compared to analyst estimates of $33.55 million. Analysts anticipate that Claros Mortgage Trust, Inc. will post -2.67 earnings per share for the current year.
Analyst Ratings Changes
CMTG has been the topic of several research reports. Wall Street Zen lowered Claros Mortgage Trust from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 1st. Wells Fargo & Company decreased their price objective on Claros Mortgage Trust from $2.50 to $1.75 and set an "underweight" rating on the stock in a report on Wednesday, August 5th. Keefe, Bruyette & Woods lowered their price objective on Claros Mortgage Trust from $2.50 to $2.15 and set an "underperform" rating on the stock in a research report on Tuesday, August 4th. UBS Group began coverage on Claros Mortgage Trust in a research note on Thursday, July 16th. They issued a "neutral" rating and a $2.75 target price for the company. Finally, Weiss Ratings cut Claros Mortgage Trust from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Strong Sell" and a consensus price target of $2.22.
Get Our Latest Analysis on CMTG
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its stake in Claros Mortgage Trust by 75.8% in the second quarter. BNP Paribas Financial Markets now owns 8,938 shares of the company's stock valued at $25,000 after buying an additional 3,854 shares during the period. Focus Partners Wealth bought a new position in Claros Mortgage Trust during the 3rd quarter worth approximately $34,000. Hsbc Holdings PLC acquired a new position in Claros Mortgage Trust during the first quarter valued at approximately $37,000. Mariner LLC bought a new stake in Claros Mortgage Trust in the fourth quarter valued at approximately $38,000. Finally, Jump Financial LLC acquired a new stake in Claros Mortgage Trust in the second quarter worth $44,000. 89.53% of the stock is currently owned by institutional investors.
About Claros Mortgage Trust
(
Get Free Report)
Claros Mortgage Trust is a specialty finance company structured as a real estate investment trust that acquires and manages a portfolio of newly originated, conventional residential mortgage loans guaranteed or insured by U.S. government‐sponsored enterprises. The company concentrates on Agency collateral, including loans backed by Ginnie Mae, Fannie Mae and Freddie Mac, aiming to generate current income while preserving capital through high‐quality, credit‐enhanced assets.
Under an external management agreement with Claros Mortgage Capital Advisors LLC, the firm leverages a seasoned team to source, underwrite and service mortgage assets.
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