Claros Mortgage Trust (NYSE:CMTG) Share Price Breaks Above 50-Day Moving Average – Should You Sell?

Claros Mortgage Trust, Inc. (NYSE:CMTG – Get Free Report) shares crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty 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.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CMTG shares. Wells Fargo & Company reduced their price objective on Claros Mortgage Trust from $2.50 to $1.75 and set an “underweight” rating for the company in a research note on Wednesday, August 5th. UBS Group began coverage on shares of Claros Mortgage Trust in a research report on Thursday, July 16th. They set a “neutral” rating and a $2.75 target price on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Claros Mortgage Trust in a report on Friday, October 30th. Keefe, Bruyette & Woods cut their target price on shares of Claros Mortgage Trust from $2.15 to $1.75 and set an “underperform” rating on the stock in a report on Friday, October 9th. Finally, Wall Street Zen downgraded shares of Claros Mortgage Trust from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Sell” and a consensus target price of $2.08.

Check Out Our Latest Research Report on CMTG

Claros Mortgage Trust Stock Up 66.4%

The stock has a fifty day moving average of $1.35 and a 200-day moving average of $2.11. The stock has a market cap of $260.58 million, a PE ratio of -0.50 and a beta of 1.17.

Claros Mortgage Trust (NYSE:CMTG – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.31. Claros Mortgage Trust had a negative return on equity of 20.14% and a negative net margin of 371.29%. The firm had revenue of $32.64 million during the quarter, compared to the consensus estimate of $24.25 million. Equities research analysts forecast that Claros Mortgage Trust, Inc. will post -2.50 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Richard Mack purchased 200,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was acquired at an average price of $1.59 per share, for a total transaction of $318,000.00. Following the completion of the purchase, the chief executive officer directly owned 3,090,308 shares of the company’s stock, valued at $4,913,589.72. This trade represents a 6.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Claros Mortgage Trust

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. raised its holdings in Claros Mortgage Trust by 152.3% during the first quarter. Sei Investments Co. now owns 158,724 shares of the company’s stock worth $378,000 after purchasing an additional 95,805 shares in the last quarter. Empowered Funds LLC purchased a new position in Claros Mortgage Trust in the first quarter worth $212,000. FNY Investment Advisers LLC purchased a new position in Claros Mortgage Trust in the second quarter worth $205,000. Gallagher Fiduciary Advisors LLC purchased a new position in Claros Mortgage Trust in the second quarter worth $79,000. Finally, Bank of America Corp DE lifted its holdings in Claros Mortgage Trust by 41.0% in the first quarter. Bank of America Corp DE now owns 108,263 shares of the company’s stock valued at $258,000 after acquiring an additional 31,494 shares during the period. 89.53% of the stock is owned by institutional investors and hedge funds.

Claros Mortgage Trust Company Profile

(Get Free Report)

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.

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