Claros Mortgage Trust (NYSE:CMTG) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Claros Mortgage Trust (NYSE:CMTG) announced its quarterly earnings results on Wednesday. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.15, FiscalAI reports. The firm had revenue of $46.75 million for the quarter, compared to analyst estimates of $48.01 million. Claros Mortgage Trust had a negative net margin of 184.07% and a negative return on equity of 7.99%.

Claros Mortgage Trust Trading Down 3.0%

Shares of NYSE:CMTG traded down $0.08 during trading on Wednesday, reaching $2.45. 496,308 shares of the stock were exchanged, compared to its average volume of 390,566. The firm’s 50-day moving average price is $2.96 and its 200 day moving average price is $3.23. The firm has a market cap of $342.84 million, a price-to-earnings ratio of -0.92 and a beta of 1.20. Claros Mortgage Trust has a 12-month low of $2.13 and a 12-month high of $4.30. The company has a debt-to-equity ratio of 1.79, a quick ratio of 26.00 and a current ratio of 26.00.

Analysts Set New Price Targets

CMTG has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Claros Mortgage Trust in a research note on Monday, December 29th. Keefe, Bruyette & Woods dropped their target price on shares of Claros Mortgage Trust from $3.25 to $3.00 and set an “underperform” rating for the company in a report on Thursday, January 8th. UBS Group dropped their price target on Claros Mortgage Trust from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, November 14th. Finally, Wall Street Zen raised shares of Claros Mortgage Trust from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Claros Mortgage Trust has a consensus rating of “Reduce” and an average price target of $3.33.

Institutional Investors Weigh In On Claros Mortgage Trust

Several institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new stake in Claros Mortgage Trust during the 1st quarter worth $78,000. Jane Street Group LLC lifted its stake in shares of Claros Mortgage Trust by 620.9% during the first quarter. Jane Street Group LLC now owns 185,147 shares of the company’s stock worth $691,000 after purchasing an additional 159,465 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Claros Mortgage Trust in the first quarter worth about $126,000. Strs Ohio acquired a new stake in shares of Claros Mortgage Trust in the first quarter valued at about $61,000. Finally, Rhumbline Advisers grew its stake in shares of Claros Mortgage Trust by 5.6% in the second quarter. Rhumbline Advisers now owns 138,276 shares of the company’s stock valued at $394,000 after buying an additional 7,301 shares in the last quarter. 89.53% of the stock is currently owned by hedge funds and other institutional investors.

About Claros Mortgage Trust

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.