Claros Mortgage Trust (NYSE:CMTG) Announces Earnings Results, Misses Expectations By $0.14 EPS

Claros Mortgage Trust (NYSE:CMTG) announced its earnings results on Wednesday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.14), FiscalAI reports. Claros Mortgage Trust had a negative net margin of 184.07% and a negative return on equity of 7.84%. The company had revenue of $46.07 million during the quarter, compared to analysts’ expectations of $49.40 million.

Claros Mortgage Trust Stock Down 5.9%

Shares of NYSE CMTG traded down $0.21 on Friday, reaching $3.28. 369,527 shares of the company’s stock traded hands, compared to its average volume of 859,557. The business’s 50 day simple moving average is $3.49 and its two-hundred day simple moving average is $3.12. Claros Mortgage Trust has a 12 month low of $2.13 and a 12 month high of $7.72. The company has a market cap of $457.91 million, a price-to-earnings ratio of -1.24 and a beta of 1.20. The company has a quick ratio of 30.23, a current ratio of 30.23 and a debt-to-equity ratio of 1.92.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CMTG. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Claros Mortgage Trust in a report on Tuesday, October 14th. Keefe, Bruyette & Woods lifted their price target on Claros Mortgage Trust from $2.75 to $3.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Buy rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Claros Mortgage Trust has a consensus rating of “Reduce” and an average target price of $3.33.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 149,944 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Claros Mortgage Trust by 9.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 463,799 shares of the company’s stock worth $1,540,000 after purchasing an additional 41,409 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Claros Mortgage Trust by 53.3% during 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 last quarter. Gallagher Fiduciary Advisors LLC boosted its position in shares of Claros Mortgage Trust by 27.1% during the second quarter. Gallagher Fiduciary Advisors LLC now owns 32,549 shares of the company’s stock worth $93,000 after acquiring an additional 6,939 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Claros Mortgage Trust by 75.8% during the second quarter. BNP Paribas Financial Markets now owns 8,938 shares of the company’s stock valued at $25,000 after acquiring an additional 3,854 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

About Claros Mortgage Trust

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.