Claros Mortgage Trust, Inc. (NYSE:CMTG – Get Free Report) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 4,440,000 shares, an increase of 19.7% from the April 30th total of 3,710,000 shares. Based on an average daily trading volume, of 297,300 shares, the days-to-cover ratio is currently 14.9 days. Currently, 3.5% of the shares of the stock are sold short.
Claros Mortgage Trust Stock Performance
Shares of NYSE:CMTG opened at $7.89 on Friday. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -12.73 and a beta of 1.59. Claros Mortgage Trust has a 12 month low of $6.80 and a 12 month high of $15.25. The firm’s 50-day moving average is $8.68 and its 200 day moving average is $10.64. The company has a current ratio of 26.27, a quick ratio of 26.27 and a debt-to-equity ratio of 2.07.
Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.16 by $0.04. The company had revenue of $58.83 million for the quarter, compared to the consensus estimate of $63.64 million. Claros Mortgage Trust had a negative net margin of 28.16% and a positive return on equity of 1.51%. Research analysts predict that Claros Mortgage Trust will post 0.27 EPS for the current year.
Claros Mortgage Trust Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 annualized dividend and a yield of 12.67%. Claros Mortgage Trust’s payout ratio is -161.29%.
Insider Activity at Claros Mortgage Trust
In other news, CFO Mike Mcgillis bought 15,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average price of $7.34 per share, for a total transaction of $110,100.00. Following the purchase, the chief financial officer now owns 475,419 shares in the company, valued at $3,489,575.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Mike Mcgillis purchased 15,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $7.34 per share, for a total transaction of $110,100.00. Following the purchase, the chief financial officer now directly owns 475,419 shares in the company, valued at $3,489,575.46. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard Mack purchased 116,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average price of $7.18 per share, for a total transaction of $832,880.00. Following the purchase, the chief executive officer now 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 have bought 193,000 shares of company stock worth $1,393,140. 1.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Claros Mortgage Trust
Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Claros Mortgage Trust by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 393,169 shares of the company’s stock worth $4,356,000 after acquiring an additional 15,895 shares in the last quarter. Principal Financial Group Inc. bought a new position in Claros Mortgage Trust in the 3rd quarter worth about $149,000. New York State Common Retirement Fund grew its stake in Claros Mortgage Trust by 28.9% in the 3rd quarter. New York State Common Retirement Fund now owns 74,041 shares of the company’s stock worth $820,000 after acquiring an additional 16,602 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Claros Mortgage Trust by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 857,991 shares of the company’s stock worth $9,507,000 after acquiring an additional 18,609 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in Claros Mortgage Trust by 10.5% in the 3rd quarter. Van ECK Associates Corp now owns 316,708 shares of the company’s stock worth $3,509,000 after acquiring an additional 30,106 shares in the last quarter. 89.53% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have commented on CMTG shares. JPMorgan Chase & Co. decreased their price target on shares of Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their target price on shares of Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 8th. UBS Group reduced their target price on shares of Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating on the stock in a report on Wednesday, April 10th.
Check Out Our Latest Stock Analysis on Claros Mortgage Trust
Claros Mortgage Trust Company Profile
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.
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