Claros Mortgage Trust (NYSE:CMTG) Releases Earnings Results

Claros Mortgage Trust (NYSE:CMTG) posted its quarterly earnings results on Wednesday. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.38), FiscalAI reports. The business had revenue of $30.00 million for the quarter, compared to the consensus estimate of $33.55 million. Claros Mortgage Trust had a negative return on equity of 19.34% and a negative net margin of 267.14%.

Claros Mortgage Trust Stock Down 13.3%

Shares of CMTG traded down $0.28 on Thursday, reaching $1.79. The company’s stock had a trading volume of 1,898,367 shares, compared to its average volume of 551,610. Claros Mortgage Trust has a twelve month low of $1.76 and a twelve month high of $3.99. The stock has a market capitalization of $251.69 million, a PE ratio of -0.54 and a beta of 1.13. The company has a current ratio of 21.44, a quick ratio of 21.44 and a debt-to-equity ratio of 1.53. The firm has a fifty day moving average of $2.36 and a 200-day moving average of $2.47.

Institutional Trading of Claros Mortgage Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CMTG. Renaissance Technologies LLC lifted its holdings in shares of Claros Mortgage Trust by 18.5% in the fourth quarter. Renaissance Technologies LLC now owns 26,900 shares of the company’s stock valued at $82,000 after purchasing an additional 4,200 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Claros Mortgage Trust during the first quarter valued at approximately $78,000. State of Wyoming bought a new stake in Claros Mortgage Trust during the fourth quarter worth $64,000. Abel Hall LLC bought a new stake in Claros Mortgage Trust during the fourth quarter worth $62,000. Finally, Strs Ohio purchased a new stake in Claros Mortgage Trust in the 1st quarter valued at $61,000. 89.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of Claros Mortgage Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings upgraded Claros Mortgage Trust from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods decreased their price objective on Claros Mortgage Trust from $2.50 to $2.25 and set an “underperform” rating for the company in a report on Wednesday, May 13th. Finally, UBS Group assumed coverage on Claros Mortgage Trust in a report on Thursday, July 16th. They issued a “neutral” rating and a $2.75 target price on the stock. One analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Claros Mortgage Trust presently has an average rating of “Strong Sell” and a consensus price target of $2.50.

About Claros Mortgage Trust

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.