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

Claros Mortgage Trust (NYSE:CMTG) posted its earnings results on Tuesday. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.31, FiscalAI reports. The business had revenue of $32.64 million during the quarter, compared to the consensus estimate of $24.25 million. Claros Mortgage Trust had a negative net margin of 354.13% and a negative return on equity of 19.70%.

Claros Mortgage Trust Stock Performance

Shares of CMTG traded down $0.01 during mid-day trading on Tuesday, hitting $1.12. 453,342 shares of the stock were exchanged, compared to its average volume of 626,580. The company has a market cap of $158.72 million, a PE ratio of -0.29 and a beta of 1.16. Claros Mortgage Trust has a 52-week low of $1.09 and a 52-week high of $3.62. The firm has a 50-day moving average of $1.35 and a two-hundred day moving average of $2.13.

Insiders Place Their Bets

In other Claros Mortgage Trust news, CEO Richard Mack purchased 200,000 shares of Claros Mortgage Trust stock in a transaction that occurred on Thursday, September 3rd. The shares were bought at an average price of $1.59 per share, for a total transaction of $318,000.00. Following the completion of the transaction, the chief executive officer owned 3,090,308 shares of the company’s stock, valued at approximately $4,913,589.72. This trade represents a 6.92% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mike Mcgillis purchased 25,000 shares of Claros Mortgage Trust stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price 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. The trade was a 3.45% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 245,603 shares of company stock valued at $393,509. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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