Claros Mortgage Trust, Inc. (NYSE:CMTG) CEO Richard Mack Purchases 44,000 Shares

Claros Mortgage Trust, Inc. (NYSE:CMTGGet Free Report) CEO Richard Mack purchased 44,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $7.25 per share, for a total transaction of $319,000.00. Following the completion of the transaction, the chief executive officer now owns 2,435,853 shares in the company, valued at $17,659,934.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Tuesday, May 28th, Richard Mack purchased 116,000 shares of Claros Mortgage Trust stock. The shares were acquired at an average price of $7.18 per share, for a total transaction of $832,880.00.

Claros Mortgage Trust Price Performance

NYSE:CMTG opened at $6.99 on Thursday. Claros Mortgage Trust, Inc. has a 12-month low of $6.80 and a 12-month high of $15.25. The company has a debt-to-equity ratio of 2.07, a quick ratio of 26.27 and a current ratio of 26.27. The stock’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $10.71.

Claros Mortgage Trust (NYSE:CMTGGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. Claros Mortgage Trust had a positive return on equity of 1.51% and a negative net margin of 28.16%. The business had revenue of $58.83 million for the quarter, compared to analyst estimates of $63.64 million. On average, equities analysts predict that Claros Mortgage Trust, Inc. will post 0.27 EPS for the current fiscal year.

Claros Mortgage Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 14.32%. Claros Mortgage Trust’s dividend payout ratio is currently -161.29%.

Analysts Set New Price Targets

A number of research firms recently commented on CMTG. JPMorgan Chase & Co. decreased their price target on Claros Mortgage Trust from $11.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. UBS Group decreased their price objective on Claros Mortgage Trust from $11.50 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods decreased their price objective on Claros Mortgage Trust from $9.75 to $9.50 and set an “underperform” rating on the stock in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company decreased their price objective on Claros Mortgage Trust from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 8th.

Get Our Latest Research Report on CMTG

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in Claros Mortgage Trust by 9.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 81,059 shares of the company’s stock worth $792,000 after buying an additional 7,062 shares during the period. Lazard Asset Management LLC acquired a new stake in Claros Mortgage Trust during the 1st quarter worth $140,000. MQS Management LLC acquired a new stake in Claros Mortgage Trust during the 1st quarter worth $128,000. Covestor Ltd raised its stake in Claros Mortgage Trust by 349.4% during the 1st quarter. Covestor Ltd now owns 10,897 shares of the company’s stock worth $106,000 after buying an additional 8,472 shares during the period. Finally, Vanguard Group Inc. raised its stake in Claros Mortgage Trust by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 11,455,904 shares of the company’s stock worth $111,810,000 after buying an additional 30,377 shares during the period. 89.53% of the stock is currently owned by institutional investors.

About Claros Mortgage Trust

(Get Free Report)

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.

Further Reading

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