Tremont Mortgage Trust (NASDAQ:TRMT) issued its earnings results on Tuesday. The company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02, Morningstar.com reports. Tremont Mortgage Trust had a negative net margin of 1.81% and a negative return on equity of 0.14%. The company had revenue of $1.88 million for the quarter.
Shares of NASDAQ TRMT traded up $0.33 during trading hours on Wednesday, hitting $4.65. 143,568 shares of the stock were exchanged, compared to its average volume of 78,101. The company has a quick ratio of 12.62, a current ratio of 12.63 and a debt-to-equity ratio of 2.25. The firm’s fifty day simple moving average is $4.36. Tremont Mortgage Trust has a 12 month low of $3.87 and a 12 month high of $13.21.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 29th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $0.88 annualized dividend and a dividend yield of 18.92%.
In other news, Director Joseph Morea acquired 10,000 shares of Tremont Mortgage Trust stock in a transaction that occurred on Friday, May 17th. The stock was purchased at an average price of $5.23 per share, for a total transaction of $52,300.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David M. Blackman acquired 5,000 shares of Tremont Mortgage Trust stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of $5.18 per share, with a total value of $25,900.00. The disclosure for this purchase can be found here. Insiders own 20.20% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Wilbanks Smith & Thomas Asset Management LLC acquired a new position in Tremont Mortgage Trust during the 2nd quarter valued at approximately $41,000. JPMorgan Chase & Co. acquired a new position in Tremont Mortgage Trust during the 2nd quarter valued at approximately $28,000. Parallel Advisors LLC increased its stake in Tremont Mortgage Trust by 275.0% during the 2nd quarter. Parallel Advisors LLC now owns 15,000 shares of the company’s stock valued at $62,000 after purchasing an additional 11,000 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Tremont Mortgage Trust during the 2nd quarter valued at approximately $109,000. Finally, Advisor Group Inc. acquired a new position in Tremont Mortgage Trust during the 2nd quarter valued at approximately $72,000. Institutional investors and hedge funds own 6.57% of the company’s stock.
Several equities research analysts recently issued reports on TRMT shares. JMP Securities started coverage on shares of Tremont Mortgage Trust in a report on Wednesday, July 10th. They issued an “outperform” rating and a $6.00 target price on the stock. Citigroup dropped their target price on shares of Tremont Mortgage Trust from $9.50 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, June 5th. Finally, UBS Group cut shares of Tremont Mortgage Trust from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $5.00 in a report on Tuesday, May 21st.
About Tremont Mortgage Trust
Tremont Mortgage Trust, a real estate investment trust (REIT), focuses on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate in the United States. The company qualifies as a REIT for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders.
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