Claros Mortgage Trust (NYSE:CMTG) CEO Purchases 200,000 Shares of Stock

Key Points

• CEO Richard Mack bought 200,000 Claros Mortgage Trust shares at an average price of $1.59, investing $318,000 and increasing his direct ownership by 6.92% to 3.09 million shares. He also purchased an additional 20,603 shares the following day.
• Claros Mortgage Trust reported weak quarterly results, with a loss of $0.63 per share versus the $0.25 consensus estimate and revenue of $30 million below expectations.
• Analyst sentiment remains strongly negative: the stock carries a “Strong Sell” consensus, with one Hold and three Sell ratings and an average price target of $2.22. Shares recently traded at $1.54, near their 12-month low of $1.44.

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) CEO Richard Mack acquired 200,000 shares of the firm's stock in a transaction on Thursday, September 3rd. The shares were bought at an average cost of $1.59 per share, for a total transaction of $318,000.00. Following the completion of the acquisition, the chief executive officer directly owned 3,090,308 shares of the company's stock, valued at approximately $4,913,589.72. This represents a 6.92% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Richard Mack also recently made the following trade(s):

• On Friday, September 4th, Richard Mack acquired 20,603 shares of Claros Mortgage Trust stock. The stock was bought at an average price of $1.59 per share, for a total transaction of $32,758.77.

Claros Mortgage Trust Price Performance

Shares of CMTG traded down $0.07 during mid-day trading on Tuesday, reaching $1.54. The company had a trading volume of 263,335 shares, compared to its average volume of 577,886. The company has a debt-to-equity ratio of 1.81, a current ratio of 21.44 and a quick ratio of 21.44. The company has a market capitalization of $217.97 million, a P/E ratio of -0.40 and a beta of 1.14. Claros Mortgage Trust, Inc. has a twelve month low of $1.44 and a twelve month high of $3.99. The company's 50-day moving average is $1.96 and its 200-day moving average is $2.26.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.38). Claros Mortgage Trust had a negative net margin of 354.13% and a negative return on equity of 19.70%. The company had revenue of $30.00 million during the quarter, compared to analyst estimates of $33.55 million. On average, equities analysts anticipate that Claros Mortgage Trust, Inc. will post -2.67 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Claros Mortgage Trust from $2.50 to $2.15 and set an "underperform" rating for the company in a research report on Tuesday, August 4th. UBS Group initiated coverage on Claros Mortgage Trust in a research report on Thursday, July 16th. They set a "neutral" rating and a $2.75 price target on the stock. Wall Street Zen cut Claros Mortgage Trust from a "hold" rating to a "strong sell" rating in a report on Saturday, August 1st. Weiss Ratings downgraded Claros Mortgage Trust from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company reduced their price objective on Claros Mortgage Trust from $2.50 to $1.75 and set an "underweight" rating on the stock in a research note on Wednesday, August 5th. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Sell" and an average price target of $2.22.

Hedge Funds Weigh In On Claros Mortgage Trust

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Claros Mortgage Trust by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,616,998 shares of the company's stock worth $21,968,000 after buying an additional 149,944 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Claros Mortgage Trust by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,621,983 shares of the company's stock worth $11,083,000 after acquiring an additional 383,859 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Claros Mortgage Trust by 22.9% during the second quarter. Balyasny Asset Management L.P. now owns 1,946,597 shares of the company's stock worth $5,548,000 after acquiring an additional 362,130 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Claros Mortgage Trust by 53.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,805,395 shares of the company's stock valued at $5,994,000 after acquiring an additional 632,105 shares during the period. Finally, LM Asset Management Inc. bought a new position in Claros Mortgage Trust in the fourth quarter valued at about $1,634,000. 89.53% of the stock is owned by institutional investors.

Claros Mortgage Trust Company Profile

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.

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