Claros Mortgage Trust’s (CMTG) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market perform rating on shares of Claros Mortgage Trust (NYSE:CMTGFree Report) in a research note issued to investors on Tuesday, Benzinga reports.

Other equities analysts have also issued research reports about the stock. UBS Group lowered their price objective on shares of Claros Mortgage Trust from $11.50 to $10.00 and set a neutral rating for the company in a research report on Wednesday, March 20th. Wells Fargo & Company lowered their price objective on shares of Claros Mortgage Trust from $11.00 to $9.00 and set an equal weight rating for the company in a research report on Wednesday, May 8th. JPMorgan Chase & Co. lowered 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. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Claros Mortgage Trust from $9.75 to $9.50 and set an underperform rating for the company in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $9.50.

View Our Latest Stock Report on CMTG

Claros Mortgage Trust Stock Performance

CMTG opened at $8.18 on Tuesday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -13.19 and a beta of 1.52. The company has a fifty day moving average of $8.45 and a 200 day moving average of $10.43. Claros Mortgage Trust has a fifty-two week low of $6.80 and a fifty-two week high of $15.25. The company has a debt-to-equity ratio of 2.07, a quick ratio of 26.27 and a current ratio of 26.27.

Claros Mortgage Trust (NYSE:CMTGGet Free Report) last posted its earnings results on Monday, May 6th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.04. Claros Mortgage Trust had a negative net margin of 28.16% and a positive return on equity of 1.51%. The company had revenue of $58.83 million during the quarter, compared to analysts’ expectations of $63.64 million. As a group, sell-side analysts forecast that Claros Mortgage Trust will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Claros Mortgage Trust

In other news, CEO Richard Mack bought 116,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average price of $7.18 per share, for a total transaction of $832,880.00. Following the acquisition, the chief executive officer now owns 2,551,853 shares of the company’s stock, valued at $18,322,304.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Jeffrey D. Siegel acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $7.23 per share, for a total transaction of $36,150.00. Following the acquisition, the insider now directly owns 167,242 shares of the company’s stock, valued at approximately $1,209,159.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Mack acquired 116,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $7.18 per share, with a total value of $832,880.00. Following the acquisition, the chief executive officer now directly owns 2,551,853 shares in the company, valued at $18,322,304.54. The disclosure for this purchase can be found here. In the last quarter, insiders bought 193,000 shares of company stock worth $1,393,140. 1.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Claros Mortgage Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in Claros Mortgage Trust by 11,644.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,609,072 shares of the company’s stock valued at $199,122,000 after buying an additional 14,484,684 shares in the last quarter. Vanguard Group Inc. increased its position in Claros Mortgage Trust by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock valued at $111,810,000 after purchasing an additional 30,377 shares during the period. Charles Schwab Investment Management Inc. increased its position in Claros Mortgage Trust by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 871,156 shares of the company’s stock valued at $11,874,000 after purchasing an additional 13,165 shares during the period. Van ECK Associates Corp increased 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 valued at $3,166,000 after purchasing an additional 2,190 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Claros Mortgage Trust by 9.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 81,059 shares of the company’s stock valued at $792,000 after purchasing an additional 7,062 shares during the period. Institutional investors own 89.53% of the company’s stock.

About Claros Mortgage Trust

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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

Analyst Recommendations for Claros Mortgage Trust (NYSE:CMTG)

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