Claros Mortgage Trust (NYSE:CMTG) Shares Cross Above 50-Day Moving Average – Here’s Why

Shares of Claros Mortgage Trust, Inc. (NYSE:CMTG) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $1.35 and traded as high as $1.9550. Claros Mortgage Trust shares last traded at $1.8470, with a volume of 21,874,004 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on CMTG. Wells Fargo & Company reduced their price target on shares of Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating on the stock in a research report on Wednesday, August 5th. Wall Street Zen lowered Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods decreased 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 initiated coverage on shares of Claros Mortgage Trust in a research note on Thursday, July 16th. They set a “neutral” rating and a $2.75 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Claros Mortgage Trust in a research report on Friday, October 30th. One investment 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 stock currently has a consensus rating of “Strong Sell” and a consensus price target of $2.08.

Claros Mortgage Trust Stock Down 3.6%

The company’s 50 day simple moving average is $1.35 and its 200 day simple moving average is $2.10.

Claros Mortgage Trust (NYSE:CMTG) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.31. Claros Mortgage Trust had a negative net margin of 354.13% and a negative return on equity of 19.70%. The business had revenue of $32.64 million during the quarter, compared to the consensus estimate of $24.25 million. As a group, equities research analysts anticipate that Claros Mortgage Trust, Inc. will post -2.50 EPS for the current fiscal year.

Insider Activity

In related news, CEO Richard Mack bought 20,603 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was bought at an average price of $1.59 per share, with a total value of $32,758.77. Following the purchase, the chief executive officer directly owned 3,110,911 shares of the company’s stock, valued at approximately $4,946,348.49. This represents a 0.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC purchased a new stake in Claros Mortgage Trust in the 2nd quarter worth approximately $53,000. Gallagher Fiduciary Advisors LLC purchased a new stake in Claros Mortgage Trust during the second quarter valued at approximately $79,000. Empowered Funds LLC purchased a new position in Claros Mortgage Trust in the 1st quarter worth $212,000. Bank of America Corp DE raised its stake in shares of Claros Mortgage Trust by 41.0% during the 1st quarter. Bank of America Corp DE now owns 108,263 shares of the company’s stock valued at $258,000 after buying an additional 31,494 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Claros Mortgage Trust by 81.4% during the 1st quarter. Renaissance Technologies LLC now owns 48,800 shares of the company’s stock valued at $116,000 after acquiring an additional 21,900 shares during the period. 89.53% of the stock is owned by institutional investors.

About Claros Mortgage Trust

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.