Claros Mortgage Trust (NYSE:CMTG) Announces Earnings Results, Beats Expectations By $0.31 EPS

Claros Mortgage Trust (NYSE:CMTG) issued its quarterly earnings data on Tuesday. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.31, FiscalAI reports. Claros Mortgage Trust had a negative net margin of 371.29% and a negative return on equity of 20.14%. The firm had revenue of $32.64 million during the quarter, compared to the consensus estimate of $24.25 million.

Claros Mortgage Trust Stock Up 66.4%

Claros Mortgage Trust stock opened at $1.85 on Thursday. Claros Mortgage Trust has a 52 week low of $1.09 and a 52 week high of $3.62. The stock has a 50-day moving average price of $1.35 and a 200 day moving average price of $2.11. The company has a market capitalization of $260.58 million, a price-to-earnings ratio of -0.50 and a beta of 1.17.

Insider Buying and Selling at Claros Mortgage Trust

In other news, CEO Richard Mack acquired 200,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were acquired at an average price of $1.59 per share, with a total value of $318,000.00. Following the purchase, the chief executive officer directly owned 3,090,308 shares of the company’s stock, valued at $4,913,589.72. This trade represents a 6.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CMTG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Claros Mortgage Trust in a report on Friday, October 30th. Wells Fargo & Company dropped their price objective on shares of Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating for the company in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods dropped their price target on shares of Claros Mortgage Trust from $2.15 to $1.75 and set an “underperform” rating for the company in a research note on Friday, October 9th. Wall Street Zen downgraded shares of Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, UBS Group started coverage on Claros Mortgage Trust in a report on Thursday, July 16th. They set a “neutral” rating and a $2.75 price objective for the company. One analyst has rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average target price of $2.08.

Claros Mortgage Trust Company Profile

Claros Mortgage Trust, Inc is a real estate investment trust focused on originating, acquiring and managing commercial real estate debt investments. The company primarily provides financing to owners and investors of commercial properties, with an emphasis on transitional assets that may require renovation, repositioning or lease-up before reaching stabilized operations.

Its investment portfolio has primarily consisted of senior and subordinate mortgage loans secured by commercial real estate, including multifamily, office, hotel, retail, industrial and mixed-use properties.