Mike Mcgillis Acquires 25,000 Shares of Claros Mortgage Trust (NYSE:CMTG) Stock

Key Points

• CFO Mike McGillis bought 25,000 Claros Mortgage Trust shares at an average price of $1.71, increasing his direct stake by 3.45% to 749,000 shares.
• CMTG shares fell 8.2% to $1.78, near their 52-week low, after the company reported a quarterly loss of $0.63 per share—well below the $0.25 consensus estimate—and lower-than-expected revenue.
• Analyst sentiment is strongly negative: Claros Mortgage Trust carries an average “Strong Sell” rating, with three Sell ratings and one Hold rating and an average price target of $2.22.

Claros Mortgage Trust, Inc. (NYSE:CMTG - Get Free Report) CFO Mike Mcgillis purchased 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average cost of $1.71 per share, with a total value 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. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Claros Mortgage Trust Trading Down 8.2%

CMTG stock traded down $0.16 during trading on Monday, reaching $1.78. 456,696 shares of the stock traded hands, compared to its average volume of 569,022. The company has a debt-to-equity ratio of 1.81, a current ratio of 21.44 and a quick ratio of 21.44. Claros Mortgage Trust, Inc. has a 52-week low of $1.66 and a 52-week high of $3.99. The firm has a market capitalization of $251.12 million, a PE ratio of -0.46 and a beta of 1.16. The business's 50 day moving average price is $2.30 and its 200-day moving average price is $2.42.

Claros Mortgage Trust (NYSE:CMTG - Get Free Report) last posted 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). The business had revenue of $30.00 million during the quarter, compared to analysts' expectations of $33.55 million. Claros Mortgage Trust had a negative net margin of 354.13% and a negative return on equity of 19.70%. As a group, sell-side analysts forecast that Claros Mortgage Trust, Inc. will post -2.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Claros Mortgage Trust from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, August 3rd. UBS Group initiated coverage on Claros Mortgage Trust in a research report on Thursday, July 16th. They issued a "neutral" rating and a $2.75 target price on the stock. Wells Fargo & Company decreased 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 report on Wednesday, August 5th. Wall Street Zen lowered Claros Mortgage Trust from a "hold" rating to a "strong sell" rating in a report on Saturday, August 1st. Finally, Keefe, Bruyette & Woods dropped their price target on Claros Mortgage Trust from $2.50 to $2.15 and set an "underperform" rating on the stock in a report on Tuesday, August 4th. One research 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, Claros Mortgage Trust presently has an average rating of "Strong Sell" and an average price target of $2.22.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of Claros Mortgage Trust by 41.0% in the 1st quarter. Bank of America Corp DE now owns 108,263 shares of the company's stock worth $258,000 after acquiring an additional 31,494 shares in the last quarter. Mariner LLC acquired a new stake in Claros Mortgage Trust in the fourth quarter worth about $38,000. CIBC Asset Management Inc acquired a new position in Claros Mortgage Trust in the fourth quarter valued at approximately $48,000. Focus Partners Wealth bought a new stake in shares of Claros Mortgage Trust during the 3rd quarter valued at $34,000. Finally, Tower Research Capital LLC TRC lifted its stake in Claros Mortgage Trust by 53.3% in the second quarter. Tower Research Capital LLC TRC now owns 17,193 shares of the company's stock valued at $49,000 after buying an additional 5,976 shares during the period. Institutional investors own 89.53% of the company's stock.

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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